BCE INC. | Become a benefit company at BCE INC.

Status
2.24% votes in favour
AGM date
Previous AGM date
Proposal number
2
Resolution details
Company ticker
BCE
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Corporate purpose
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Telecom
Company HQ country
Canada
Resolved clause
It is proposed that the corporation analyze the possibility of becoming a benefit company and report on this to the shareholders at the next annual meeting.
Supporting statement
Since 2002, corporations are accountable for their contribution to society in terms not only of economic performance, but also social and environmental performance. Twenty years later, corporations must push further their commitment to inclusive, ecological and sustainable prosperity by analyzing the possibility of becoming a benefit company, as the Business Development Bank of Canada (BDC) has already done by adjusting its internal by-laws. “Introduced in the State of Maryland in 2010, and now adopted in 36 U.S. states,” in British Columbia and provided for by Bill 797, the benefit company is characterized by the following: (1) The purpose of the Company shall include, […] the creation of a positive impact on society and the environment, taken as a whole, from the business and operations of the Company […] (2) The Directors shall, when deciding what is in the best interests of the corporation, consider the short-term and the long-term interests of the corporation and the interests of the corporation’s shareholders, employees, suppliers, creditors and consumers, as well as the government, the environment, and the community and society in which the corporation operates (the “Stakeholders”), to inform their decisions. (3) In discharging his or her duties, and in determining what is in the best interests of the corporation, each director shall consider all of the Stakeholders (defined above) but shall not be required to regard the interests of any particular Stakeholder as determinative. Professor Henry Mintzberg (McGill) said that “Successful corporate social responsibility initiatives will never match or remedy the effects of corporate social irresponsibility.” (5) The benefit company makes it possible to enshrine, in the corporation’s statutes, its commitment to working in the general interest of the public and to report on the impact of its actions on all stakeholders.

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