Several prominent players in Canada’s pension industry have signed onto the BlackNorth Initiative, pledging to take specific actions within their organizations to tackle anti-Black systemic racism.

“The persistent inequities across our country underscore our urgent, national need to address and alleviate racial, ethnic and other tensions and to promote the elimination of anti-Black systemic racism wherever it exists,” read part of the pledge.

“As leaders of some of Canada’s largest corporations, we manage hundreds of thousands of employees and play a critical role in ensuring that inclusion is core to our workplace culture and that our businesses are representative of the communities we serve. Moreover, we know that true diversity is good for the economy; it improves corporate performance, drives growth and enhances employee engagement.”

The Canada Pension Plan Investment Board, the Healthcare of Ontario Pension Plan, the Ontario Pension Board and the Ontario Teachers’ Pension Plan were among the more than 200 organizations that signed the pledge.

Of note, 30 per cent of TSX 60 companies signed and the total market cap of all committed organizations is more than $1 trillion.