Progress Vs. Performance: A Baseline Analysis of Issuers in the S&P / TSX Composite Index

This report presents the first comprehensive, company-level review of how constituents in the TSX Composite Index disclose their relationships with Indigenous Peoples. The analysis assesses disclosures across key areas including education, governance, employment, procurement, partnerships, and land-related commitments.

While 70% of companies disclose some activity relating to Indigenous Peoples, the findings reveal significant variation in depth and consistency, with many disclosures remaining symbolic rather than structurally embedded in governance or business strategy. The report establishes a baseline for Canadian capital markets and highlights emerging investor expectations that Indigenous rights be addressed as matters of governance, legal risk, and long-term value creation.

Our goal is to provide issuers with a practical tool to help guide their disclosure journeys and make their engagements with Indigenous priorities increasingly meaningful. By highlighting current trends and rights-based frameworks, this report serves as a resource for issuers looking to align their corporate transparency with emerging best practices and long-term accountability.

Progress or Performance? Indigenous Rights in Corporate Disclosures: A Baseline Analysis of Issuers in the S&P / TSX Composite Index