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TMX Group and the Institute of Corporate Directors have joined forces to launch a new committee specializing in corporate governance.

The Committee on the Future of Corporate Governance in Canada comprises 12 Canadian public company directors from across the country, according to a release.

The committee will aim to provide updated guidance on corporate governance matters such as diversity and inclusion, sustainable performance and the role of the corporation in society.

“The goal of the Committee is to develop inclusive and flexible guidance that can help boards and directors navigate relevant risks and opportunities in the modern business landscape,” Cheryl Graden, co-chair of the committee and senior vice president, group head of legal and business affairs and corporate secretary of TMX Group, said in a statement.

The release indicated that the committee plans to consult with a “broad range” of stakeholders, including investors, regulators and self-regulators, academics and business leaders.

The launch of the new committee comes more than 25 years after the Toronto Stock Exchange Committee on Corporate Governance — commonly known as The Dey Report — published its guidelines on corporate governance.