Mr. Speaker, thank you for the opportunity to voice my concerns about Bill C-473. Before I start, I want to correct the record and indicate that funds at Status of Women are actually at their highest level ever.
The bill put forward by the hon. member opposite would use legislated quotas to force the government to balance the representation of women and men on the boards of directors of crown corporations.
The government agrees that the presence of women on corporate boards brings a different perspective and an important voice to crown corporations. However, legislated quotas come with many potential problems, and that is why we cannot support the bill. For example, there are rigid and arbitrary thresholds that could get in the way of appointing people who reflect Canada's diversity in terms of linguistic, regional and employment equity representation, including women.
Legislated quotas could also result in the potential disruption of commercial operations and good corporate governance. For instance, gender quotas could restrict or limit the pool of potential candidates for a vacant position, leaving the board unable to meet quorum while the minister searches for an appropriate person. In short, the problems with imposed quotas far outweigh the benefits.
However, no one should doubt our government's commitment to women having a voice in Canada's public and private sector boardrooms. We know that women contribute in every respect to corporate enterprises throughout Canada, but we believe that a more competitive corporate Canada requires that appointments to boards are based on merit and excellence. That is why we support a voluntary approach. The voluntary approach is a more flexible way of meeting the government's objectives of appointing the most suitable candidate, based on a number of requirements and competencies.
At the same time, we believe in taking concrete action to advance more women into leadership roles across the country and our economy. For example, working in partnership with private sector firms, we supported the work of the Canadian Board Diversity Council. This group is educating the business community on the value of board diversity. It is also equipping a diversity of board-ready, high-potential candidates, including women, with the tools to pursue board positions.
In addition, in economic action plan 2012, we announced the creation of an advisory council to increase opportunities for women's leadership on corporate boards and to keep our economy strong. Its members were announced by the Minister of Status of Women in April.
The advisory council is comprised of women and men representing a wide range of experience within the corporate sector. All have distinguished themselves as inspired, forward-thinking leaders and decision-makers, committed to the principles of equality, diversity and excellence in our country's boardrooms. These prominent Canadians include John Manley, president of the Canadian Council of Chief Executives; Monique Leroux, head of Desjardins; and Charles Winograd, chair of the TMX Group.
The role of the advisory council is to advise the minister on how businesses in the private sector can increase the number of women on their corporate boards. The council is also being asked to suggest how industry and government can track and measure progress under this initiative, and what tools, if any, the government should employ to achieve this goal. It will suggest ways of recognizing or rewarding companies that meet their targets for increasing the representation of women on their boards. Finally, the advisory council will report back with its recommendations this fall, and we look forward to its input and ideas.
Another example of actions that our government has taken to empower women is in economic action plan 2013. Economic action plan 2013 includes a number of measures to better connect Canadians with job opportunities, which will help increase the representation of women in all types of careers.
In addition, since 2007, more than $46 million has been approved through the women's program at Status of Women Canada for projects that promote women's economic security and prosperity. This past July we announced that, through Status of Women Canada, we were providing $266,630 in funding for a 36-month project called Roots/Routes to Women's Leadership and Empowerment: Best Practices.
The project promotes leadership through economic empowerment for women in Toronto. Participants receive leadership training and mentorship to help strengthen their skills and confidence and assist them in taking on leadership roles in their communities. Our support for this project reflects our government's desire to empower women, by putting in place the building blocks of success for more women and girls to prosper in their own lives.
We understand that Canada is better off when the talents and skills of women and girls are represented in every sector of society, in government at every level, and from the grassroots all the way to the boardroom. We know that the more we break down barriers and inspire young women and girls to pursue a wide variety of career options, the stronger Canada will be.
Where we differ from the hon. member opposite is that we believe in creating sustainable pathways to success rather than legislating them. That is why we do not support Bill C-473 with its legislated quotas as the best way to achieve gender balance on the boards of crown corporations.
The voluntary way is the more effective way, and we believe it is the better way for Canadian women, crown corporations and Canada's economy to succeed.