Ensuring Good Governance and Accountability
We believe that strong governance improves corporate performance and benefits all stakeholders. Honesty and integrity are vital to ensuring good corporate governance.
Having an independent Board is critical to effective oversight and good governance. Our Board of Directors provides oversight to ensure we are living up to our obligations. Its members offer a diverse wealth of industry and business experience – two of the nine members are women and eight are independent.
Board members participate in four committees:
- Corporate Governance & Nominating
- Environment & Safety
- Management Resources & Compensation
We require that our directors, officers, employees and contractors conduct business in an ethical manner, and act in accordance with our Code of Conduct & Ethics. Directors, officers and employees must review the Code at least annually. We have a Whistleblower Policy and confidential hotline, and encourage employees, contractors, vendors and the general public to report concerns about potential violations of the Code.
As a public company, we comply with corporate governance guidelines that apply to Canadian companies listed on the Toronto Stock Exchange.
Our corporate governance practices also meet or exceed the guidelines adopted by the Canadian Securities Administrators.
We monitor regulatory developments and governance best practices as they evolve. We adopt regulatory changes which apply to us and incorporate best practices in governance which are appropriate to our circumstances.
We regularly review our governance structure
- Board and Committee Terms of Reference
- Board stewardship responsibilities
- Director orientation and continuing education
- Board size, composition, independence, skills and experience
- Board renewal and composition of Board committees
Internal and external oversight
- Board of Directors committees:
- Interfor governing documents and policies include:
- Interfor Management Information Circular:
- Includes a section that discusses governance policies and practices.
- Lists committees and functions.
- Canadian legal and regulatory oversight:
- Business Corporations Act (British Columbia) regulates companies incorporated in BC – includes powers and duties of directors and officers, conflicts of interest, corporate and financial records, shareholder meetings, proposals and dissent rights.
- Canadian and British Columbia Securities laws, regulations and policies – includes extensive governance and disclosure requirements and guidelines.
- Toronto Stock Exchange Company Manual – includes standards and requirements for listed companies.