Global fintech and funding innovation ecosystem

Board Diversity and Inclusion: 50-30 Challenge

Global Compact Network Canada | May 2, 2022

50 30 challenge - Board Diversity and Inclusion: 50-30 Challenge

Beginning of February 2022, the UN Global Compact Network Canada received funding through the Department of Innovation, Science and Economic Development Canada (ISED) as an Ecosystem Partner supporting the 50-30 Challenge. The 50-30 Challenge addresses the need to implement effective diversity and inclusion strategies to help organizations expand their talent pool, retain staff, and overcome skills gaps in a changing economy. Challenge participants have committed to the following representation goals for board and executive positions: 50% women and 30% diverse representation with particular attention on racialized people, Indigenous peoples, those with disabilities, and members of the LGBTQI2S+ community.

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As an Ecosystem Partner, the UN Global Compact Network Canada is implementing a three-year project to support organizations in meeting the 50-30 Challenge representation goals. This project is designed to provide all Canadian participants of the 50-30 Challenge with the tools, training, resources, knowledge and networking opportunities to achieve ambitious targets as well as foster greater capacity for diversity, equity, and inclusion efforts in the future. To cultivate long-term growth, the UN Global Compact Network Canada will be employing a framework in accordance with the Sustainable Development Goals (SDGs) – specifically SDG 5 and SDG 10 – which focus on achieving gender equality and reducing inequality within and between countries.

This project builds on the 2018 amendments to the Canadian Business Corporation Act that requires distributing corporations to report on their boards and senior management.

Activities and Timeline

Beginning in February 2022, the UN Global Compact Network Canada’s project, “The Future is Equal: Enabling Ecosystems of Support in Canada” will run until March 2024, when the final project deliverables and resources will be made publicly available. The project is divided into the following phases and activities:

Phase I: Series of Capacity Building Workshops: Summer 2022 – December 2023
Phase II: Development of Case Studies: April 2023- October 2023
Phase III: Multi-stakeholder Event: March 2024

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Who can participate?

The 50-30 Challenge is open to large companies, small and medium enterprises, post-secondary institutions, not-for-profit organizations (including hospitals), charities and agencies boards and commissions. Access to the UN Global Compact Network Canada’s project activities will be available to all Challenge participants and organizations interested in learning about meeting representation targets.
For more information on the 50-30 Challenge, visit the 50-30 Challenge website.

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