Meeting Summary

Governance Committee - February 21, 2017

2017 Governance Committee Work Plan

The Governance Committee mandate requires the Committee to establish its Work Plan annually. The Work Plan describes how the Committee will meet its mandate obligations.

The Committee considered its work plan for 2017. One item of particular note was the Committee’s intent to arrange a number of joint sessions with the Sponsors Corporation Corporate Governance Committee to discuss common issues.

Following discussion, the Governance Committee approved its 2017 Work Plan, which was prepared to comply with the Governance Committee Mandate, as approved by the OAC Board at its meeting held on December 15, 2016.

2016 Enterprise Political Donations and 2017 Plan

The Enterprise Political Donations Policy that was in effect until December 31, 2016 set out guidance for political donations to facilitate OAC participation in the political process in the jurisdictions where it has commercial interests.

At its meeting in November 2016, the Governance Committee approved a new Political Donations Policy which took effect on January 1, 2017. Under that Policy as provided in new legislation, corporate donations, including those by OMERS, are no longer legally permitted at the federal level in Canada, the provincial level in Ontario and the municipal/school board level in Ontario.

The Committee considered the annual report on political donations made in 2016 and a request to approve the donation plans for 2017. It was noted that a summary report on donations made in 2016 would be published on omers.com to promote transparency with plan members.

Following discussion, the Governance Committee approved the 2017 Enterprise Political Donations Plan.