Of the 173 companies in the S&P/TSX Composite Index that held Say on Pay votes last year, only four failed to pass.

March 14, 2022

Season Snapshots: Canada S&P/TSX

Below is an excerpt from ISS Corporate Solution’s recently released paper “Season Snapshots: Canada S&P/TSX”. The full paper is available for download from the ISS Corporate Solutions (ICS) online library.

With the 2022 proxy season underway, ISS Corporate Solutions (ICS) looks back at key governance factors that defined 2021 and examines the increasing focus on ESG and sustainable investment issues among the 235 companies in Canada’s S&P/TSX Composite Index.

The third in our Season Snapshots series looks at shareholder proposals, director elections, Say on Pay results, and changes in CEO remuneration among Canada’s biggest publicly traded companies. The second in the series covered the S&P 500 and the first focused on Korea’s KOSPI index.

Key Takeaways

  • The financial sector was the target of most shareholder resolutions
  • Most shareholder resolutions addressed the issue of climate change
  • Directors received very high levels of voting support
  • Barely a handful of Say on Pay votes failed to pass
  • Almost half of all CEOs received a pay freeze or a pay cut

By Paul Hodgson, Senior Editor, ISS Corporate Solutions

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