By Jamil Jivani, September 9, 2022
Up until now, the backlash against woke corporations has mostly come from south of the border. But that’s about to change, as one courageous Conservative MP is set to propose a uniquely Canadian solution to the problem of “woke capital.”
Corporations are generally considered woke when they engage in social activism that is beyond the scope of their business purpose. It is controversial because it is inherently undemocratic when wealthy officers and directors exploit the unique legal status of a corporation in order to marshal significant resources toward their preferred political agendas.
Canadians have had reasons to worry about woke capital for years: ESG (environmental, social and governance) investment policies have undercut our oil and gas industry; businesses have embraced Black Lives Matter, despite serious concerns about the group’s ethics; and multinational corporations have imported American culture wars into our country.