[Superflyer]

So on the topic of Wokeness, Jamil Jivani: The Conservative MP who's fed up with the menace of woke corporations

Canadians have had reasons to worry about woke capital for years: ESG (environmental, social and governance) investment policies have undercut our oil and gas industry; businesses have embraced Black Lives Matter, despite serious concerns about the group’s ethics; and multinational corporations have imported American culture wars into our country.

At last, a Canadian MP is pushing back. Conservative Tom Kmiec, who has represented the riding of Calgary Shepard since 2015, is proposing a new bill designed to hold powerful officers and directors accountable.

Kmiec is currently drafting a private member’s bill to amend Section 122 of the Canada Business Corporations Act (CBCA), which is focused on the duty of care that officers and directors owe to their shareholders. If passed, it would ensure that officers and directors prioritize the interests of shareholders above political agendas that are unrelated to the company’s business purpose.

A summary of Kmiec’s bill, which was obtained by the National Post, explains that it would be “considered a breach in the duty of care owed to shareholders when directors and officers of a large distributing corporation (a company with a total market value of shares above $100 million) make activist statements, including in relation to public policy or social issues, that is not directly related to the business the corporation carries out and that could reasonably be expected to reduce the value of shares.”