Teck Resources has been named one of the ‘Best 50 Corporate Citizens in Canada’ for the 16th consecutive year by Toronto-based research company, Corporate Knights.
The list is published annually, and overall the ‘Best 50 Corporate Citizens’ score higher than the average large Canadian companies in metrics like CEO-worker pay ratios, board gender and racial diversity, earnings for shareholders and clean revenue and investment.
“This acknowledgment is really a reflection of the dedication and passion of Teck’s employees, who are focused on caring for people, communities and the environment in every aspect of their work,” said Don Lindsay, President and CEO.
“Teck is committed to being a positive corporate citizen while responsibly producing the materials needed to build a better quality of life for people around the world and support the low-carbon transition.”
Teck ranked 33rd out of the 50 companies on the list, having risen one place since last year’s list was published, and was the second-best scoring mining company listed, behind Yamana Gold. Other companies that scored higher were companies such as BC Hydro (27th), CP Rail (17th) and Telus (7th). The top-scoring company was Hydro-Quebec, which came first last year as well.
According to Corporate Knights criteria for finding the best corporate citizens, companies are evaluated on environmental, social and governance indicators such as board diversity, resource efficiency, financial management and clean revenue.
Their ranking is based on analysis of publicly-disclosed data, and companies that have a gross revenue of at least $1 billion are considered. They must be publicly traded, privately owned or crown corporations within Canada.
One metric of analysis is CEO to average worker pay ratio, with Teck scoring 85:8 on that metric – or to express in words: CEO Don Lindsay made roughly ten times what the average Teck worker made in 2021, going home with $13.21 million.
Meanwhile, the CEO of Telus made 236 times the amount the average Telus worker made in the same year. CEO of Telus, Darren Entwistle earned over $19 million in 2021.
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