The shift to social purpose business continues to accelerate, with more companies adopting a social purpose as their core reason to exist. The TSX 60 Social Purpose Report Card explores how this shift is playing out in Canada.
It builds on the world’s first social purpose rating, conducted by Corporate Knights (CK) in 2022. That landmark study evaluated companies with headquarters or significant operations in Canada, finding that 17% of the initial sample of 197 businesses met the criteria of having a stated purpose that creates value for society rather than solely for shareholders or customers. These 34 companies were further evaluated for their governance and implementation practices, setting a benchmark for social purpose leadership as summarized in CK’s seminal report: The Social Purpose Transition Pathway: Helping Companies Move from “Say” to “Do”.
Expanding on this analysis, the TSX 60 Social Purpose Report Card evaluates whether the 60 public companies in this index have a social purpose as their reason for being, a different purpose or no declared purpose. The findings shed light on the state of social purpose in corporate Canada. This evaluation provides insights for stakeholders—investors, policymakers, business leaders and civil society—seeking to understand the emergence of social purpose business in Canada’s economic landscape.
As the purpose economy continues to gain momentum, the TSX 60 Social Purpose Report Card serves as a critical benchmark for understanding corporate Canada’s shift to social purpose – and away from a business models focused solely on profit. For companies navigating this transition, the TSX 60 Social Purpose Report Card provides a timely and authoritative reference point, highlighting emerging trends and best practices in purpose adoption.
