The British Columbia Investment Management Corp. is updating its code of ethics and personal conduct to include a section outlining its expectations from employees around diversity, equity and inclusion-related issues.
Following a review of the 2018 version of the code earlier this year, the BCI’s board put forward recommendations and a new version was published this month. The changes include an additional section that lays out new behavioural expectations for employees related to DEI.
“An inclusive culture where everyone feels valued, respected and supported is essential for diversity of thought to thrive,” stated the new code. “We are committed to creating an environment where everyone can bring their best self to work.”
Among the new duties by which each employee is expected to abide, they must now take personal responsibility for educating themselves about DEI-related issues. They’re also required to report instances when they feel others have been excluded within the organization.
From an investment perspective, the largest policy change set out in the new code relates to a new requirement that investors and other employees consciously solicit ideas and perspective from a diverse selection of stakeholders and consider these ideas in decision-making processes.
In a press release, Gordon Fyfe, the BCI’s chief executive officer, said the code plays a central role in defining the organization’s priorities. “Our continued success in delivering results for our clients and our ability to maintain our clients’ trust depends on our collective adherence to the code.”