Black Representation in Alberta and British Columbia’s Banking and Finance Sector

Increasing representation is important for sustainable growth and innovation. However, significant disparities in representation persist for Black and racialized individuals within Alberta and British Columbia’s banking and finance sectors.

While there were slight gains in Black representation from 2016 to 2021, the attainment rate for Black individuals in the sector remained below 100%, trailing behind other minority groups in Alberta and B.C. 

Underrepresentation in banking and finance can have wide-ranging impacts, as a lack of diversity stifles creativity and innovation, ultimately hindering progress and corporate growth.

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Improving the representation of Black individuals in the sector is beyond equity, diversity, and inclusion considerations—it is crucial for sustainable growth and innovation while reducing societal inequalities.

Our report urges a collective effort, policy reforms, and an unwavering commitment to equity and inclusion to unlock the sector’s full potential, promote innovation, and support economic growth.

Black Representation in Alberta and British Columbia’s Tech Sector

In today’s rapidly evolving world, the tech sector is a driving force behind innovation and economic growth. Despite this, data reveals a significant underrepresentation of Black individuals within the tech industry in Alberta and B.C., spanning entry-level positions, professional management, and the C-suite.

Between 2016 and 2021, the Black population in Alberta and B.C. grew by 37.5% and 42% respectively, surpassing the overall population growth. However, this increase in population has not been reflected in the tech sector, where Black representation remains disproportionately low.

Our research indicates that this underrepresentation is largely due to systemic barriers embedded in policies, practices, and societal structures, which hinder equal access and opportunities for minority groups.

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Diverse perspectives fuel innovation and enhance industry competitiveness, playing a critical role in the growth potential of both the tech sector and the broader economy.

Although current representation statistics are discouraging, collaborative efforts from the government, tech organizations, equity-seeking groups, and other stakeholders can significantly improve Black representation in the tech industry.

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