In this edition:
- A diverse workplace is better for people and profit
- Close to half of Canadians “very concerned” about ability to meet daily expenses
- Grimsby to do away with committee of the whole structure
- Ontario connecting more people to care at home
- COVID-19 caused GDP contributions of multinational enterprises to drop almost 10% in 2020
A diverse workplace is better for people and profit
As a country, Canada prides itself on diversity. As the backbone of our economy, small and mid-sized businesses (SMEs) can benefit from diversity to find new customers and build more business. Made stronger by our greatest asset, we can assemble teams from all ethnicities, genders, ages and preferences. And when we do, we get the kind of exceptional thinking and results that come from building an unbiased, unprejudiced workplace.
The link between diversity, inclusion, and success in business is becoming clearer. Companies that stay committed to a diverse and welcoming workplace are being rewarded with top job applicants, greater employee retention, better work process and results, and higher profits. Here are 4 key reasons for why a focus on diversity in the workplace can help you gain a competitive edge by being more agile, dynamic, productive, and profitable.
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Close to half of Canadians “very concerned” about ability to meet daily expenses
In the face of rising consumer prices, close to half (44%) of Canadians in 2022 were very concerned about their ability to meet day-to-day expenses.
Feeling worried about the impacts of inflation on food, housing and other expenses was greatest among the lowest income Canadians, where more than 6 in 10 (63%) in the bottom household income quintile were very concerned. This proportion was over three times higher than those in the top income quintile (19%).
Released today, these findings are from a new study, “Rising prices and the impact on the most financially vulnerable: A profile of those in the bottom family income quintile.”
Grimsby to do away with committee of the whole structure
The previous term of Grimsby council had changed the town’s governance structure in January of 2020 away from standing committees, in favour of trying committee of the whole. Under the committee of the whole format, council meets and goes over everything itself, without smaller groups or public members.
When the new term started in November, most council members openly expressed a desire to switch back to the standing committees.
There will be a board and committee open house on Feb. 15 where members of the public can learn about the roles, obligations, and time commitments associated with volunteering to participate on these standing committees.
Ontario connecting more people to care at home
As part of Your Health: A Plan for Connected and Convenient Care, Ontario has taken new steps towards connecting people to convenient care at home and in their community so more Ontarians can choose to stay in their homes for longer as they age or are able to receive care closer to home. Delivering convenient care at home provides a better experience for people and frees up more space in hospitals, long-term care homes and doctors’ offices.
Last year, the government invested $1 billion to expand the delivery of home and community care services to help more people connect to the care they need in the comfort of their own home.
Ontario is also expanding palliative care services by adding 23 new hospice beds to the 500 beds already available across the province to connect Ontarians with comfortable and dignified end-of-life care near their communities and loved ones.
COVID-19 caused GDP contributions of multinational enterprises to drop almost 10% in 2020
Activities of multinational enterprises (MNEs) in Canada were significantly affected by the COVID-19 pandemic in 2020, new data from Statistics Canada revealed today. Many of their activities declined, notably sales (-9.2%), employment (-6.6%), and their contribution to gross domestic product (GDP) (-9.8%). On the other hand, MNEs accumulated more assets (+8.7%) and performed more research and development (R&D).
Outside of Canada, affiliates of Canadian MNEs continued to grow their assets and sales, although their employment decreased.
Focus on Climate
Single-use plastic production still on the rise; threatens to push society further from net-zero climate goals, report shows
Minderoo Foundation’s Plastic Waste Makers Index (PWMI) 2023 shows the planet’s plastic pollution problem is worsening, and new estimates of lifecycle greenhouse gas emissions from single-use plastics demonstrate how single-use plastics producers also contribute to the climate crisis.
Among the report’s key recommendations is a stark call for investors and financial institutions to use engagement, proxy voting and divestment strategies to pressure petrochemical companies building new fossil fuel-based polymer production facilities.
“This comprehensive report provides a useful benchmark for embarking on plastic and climate-related research and shareholder engagement efforts,” said Casey Clark, President and Chief Investment Officer of Rockefeller Asset Management. “Investors, regulatory bodies, and civil society have emphasised the need to reduce plastic consumption, increase waste management efforts, and transition to ‘circular’ modes of living. Even with that backdrop, the global intake of raw virgin materials and single-use plastics continues to rise.”
What you need to know for your next hybrid or electric vehicle purchase
As part of its goal to achieve net-zero emissions by 2050, Canada has introduced new regulations to mandate one-fifth of all vehicles sold in Canada be electric by 2026.
With the price of gasoline being projected to rise again, and consumers worrying about the legacy of fossil fuel emissions, now is the perfect time for Canadians to shift toward hybrid and battery-powered electric vehicles.
But making an informed choice can be daunting. There are many different new forms of propulsion systems and energy-storage methods among hybrid and battery-powered electric vehicles — all of them different from conventional gas-burning cars.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.