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Fidelity Investments is aregistered trademark of Fidelity Investments Canada ULC. 442679-v20201130 Contents 2 EDITOR’S NOTE 4 SEVEN THINGS The big surge in CHANGE MAKERS streaming services, Meet 50 emerging leaders working to find pragmatic increasing your sales solutions to the world’s most daunting problems, including by growing a beard climate change, racial injustice, gender inequity, Indigenous and the search for reconciliation and gaps in the education system. Because more complete ways of we could all use some signs of hope in these grim times. measuring workforce /By Rosemary Counter and Katie Underwood diversity 7 NEED TO KNOW Pantonium’s If employers really want Remi Desa is to increase women’s transforming public transit representation, the faster for the Uber they do it, the better age. Page 18 9 BIG IDEA 36 ESG investing is now OIL CHANGE all the rage, but does it Why a pandemic that actually pay off? The clobbered global oil answers aren’t clear yet prices is actually a good thing for Canada’s 11 ASK AN EXPERT Most people aren’t as oil sands producers bad at giving Zoom (or at least it could be). GG presentations as they /By Max Fawcett DA S think, but we could all use some pointers THOMA 12 THE EXCHANGE (RIGHT) Cynthia Garneau took 42 O; over as CEO of VIA Rail WORST YEAR EVER PINT only to see ridership Okay, maybe it’s not DE plunge by 95% because JA the worst ever, but A- of blockades and here’s what 10 leaders COVID-19. But she’s still KENY learned during the BY pushing hard for a high- frequency future chaos of the pandemic, from the personal GAZINE to the professional. MA 52 WEALTH B The price of silver RO R rocketed up in 2020 and FO Y Maria Smirnova runs the only silver equity fund USIVEL in North America. That 46 CL rewarded her for years EX THINK DIFFERENT of work—and then some In the global hunt for APHED tech-savvy workers, GR 56 TURNING POINT TO those diagnosed with Kevin Krausert quit oil PHO drilling to become a autism and other matchmaker for clean- neurological disorders RIGHT) energy innovators and can be a huge asset— ND deep-pocketed investors just ask Microsoft (A who are desperately and TD. /By Jennifer VER seeking projects Lewington CO MARCH 2021 / REPORT ON BUSINESS 1 Editor’s Note March 2021, Volume 37, No. 3 Editorial Editor JAMES COWAN Assistant Editor DAWN CALLEJA Senior Editor JOHN DALY Copy Editors LISA FIELDING, SUSAN NERBERG Research CATHERINE DOWLING, ANNA-KAISA WALKER Art Art Director DOMENIC MACRI Associate Art Director BRENNAN HIGGINBOTHAM Director of Photography CLARE VANDER MEERSCH Contributors DEBORAH AARTS, LIZA AGRBA, JOE CASTALDO, TREVOR COLE, ROSEMARY COUNTER, TIM KILADZE, JASON KIRBY, ALEX MLYNEK, JOANNA PACHNER, JUDITH PEREIRA, KATIE UNDERWOOD Advertising Chief Revenue Officer ANDREW SAUNDERS Managing Director, Creative Studios and Ad Innovation TRACY DAY Senior Manager, Special Products ANDREA D’ANDRADE Product Manager Amateurs vs. professionals RYAN HYSTEAD Production Robert Barrow was a U.S. Marine for 41 years, serving in the Second World War Vice President, Print Operations and the Korean and Vietnam wars. While he received awards for heroism in SALLY PIRRI Production Co-ordinator combat, his most significant achievements came later, when he overhauled the ISABELLE CABRAL service’s often brutal training regimen. Appointed to lead the Marines in 1979, Publisher he was an individual with vast experience in not only accomplishing difficult PHILLIP CRAWLEY tasks but also teaching others to do the same. Late in his career, Barrow gave an Editor-in-Chief, The Globe and Mail DAVID WALMSLEY interview on the merits of a pending arms treaty. “A mateurs talk about strategy Managing Director, Business and tactics,” he observed. “Professionals talk about logistics and sustainability.” and Financial Products Barrow had led troops into deadly confrontations and reformed a sprawling GARTH THOMAS Editor, Report on Business organization that was resistant to change. Those experiences led to this insight: GARY SALEWICZ It’s easy to craft a brilliant-sounding plan. Real leadership is demonstrated through the execution. Report on Business magazine is published 7 times a year by The Globe Barrow’s observation—often truncated or misattributed—has been reprinted and Mail Inc., 351 King Street E., Toronto many times on motivational posters and repeated by management consultants. M5A 0N1. Telephone 416-585-5000. It came to mind recently when, skimming through LinkedIn, I noticed the large Letters to the Editor: [email protected]. number of my connections who describe themselves as a “strategist” of some The next issue will be on March 27. sort (logisticians were much harder to find). Strategic plans, reviews and pivots Copyright 2021, The Globe and Mail. are all very beguiling. The tricky task of implementation rarely is. Indexed in the Canadian Periodical Index. Advertising Offices This was a top consideration in assembling our inaugural list of changemak- Head Office, The Globe and Mail, ers, which you’ll find in this issue. Given the unrelenting bad news of the past 351 King Street E., Toronto M5A 0N1 year, it felt valuable to honour emerging leaders who are working to create an Telephone 416-585-5111 or toll-free 1-866-999-9237 economy that’s more sustainable, inclusive and innovative. Our call for nomi- Branch Offices nations yielded hundreds of names. Each nominee was evaluated on not just Montreal 514-982-3050 their ambitions but also their accomplishments and, perhaps most importantly, Vancouver 604-685-0308 Calgary 403-245-4987 their impact within their industries and communities. Our research team inter- Email: [email protected] viewed each candidate and contacted mentors, colleagues or other references. United States and countries outside of The result is a list of 50 individuals who are in the early stages of their careers North America: AJR Media Group, but already making a real difference in the world. 212-426-5932, ajrmediagroup@ globeandmail.com There is a fable about a group of mice terrorized by a cat. After years of hard- Publications mail registration No. 7418. ship, the rodents gather together to find a solution. Following considerable The publisher accepts no responsibility debate, a young mouse declares: “A ll we have to do is hang a bell from around for unsolicited manuscripts, SHIRI KE the cat’s neck!” The animals erupt in celebration, until an old mouse poses a transparencies or other material. H Printed in Canada by Transcontinental OS question: “Who will put the bell on the cat?” The moral of that story, according Printing Inc. UR to a century-old children’s book: “It is one thing to say that something should be Report on Business magazine is electronically KO available through subscription to Factiva.com done, but quite a different matter to do it.” from Factiva, at factiva.com/factiva APH Send feedback to GR Our changemakers haven’t just said something needs to be done about cli- or 416-306-2003. robmagletters@ TO globeandmail.com mate change, gender equity or reconcilliation. They’re doing it. /James Cowan tgam.ca/r PHO 2 MARCH 2021 / REPORT ON BUSINESS Advisory Board Forever changed THE MOST events, including CES, have In our last issue, we celebrated Canada’s best chief SIGNIFICANT had to pivot, allowing millions executives and their ability to find opportunities CHANGE of people anywhere in the amid a pandemic. Now we’ve invited executives WE’VE MADE IS world to attend a virtual DOUBLING DOWN conference. In-person events from the Report on Business list of Canada’s Top ON CREATING AND will be back, but now people Growing Companies to share how the pandemic DISTRIBUTING will have a choice. has permanently changed their businesses THOUGHT LEADERSHIP RAJ SINGH MORGAN BROWNE online and digital information CONTENT FOR PRESIDENT AND CEO, FUELLED PRESIDENT, OAKWYN REALTY is a permanent outcome of OUR INDUSTRY. BY Runs an online marketplace Brokers real estate for PROVIDING OUR for buying and selling the past year and will only oil and gas equipment homebuyers and investors continue to grow as we’re CUSTOMERS WITH In the past year, the real moving forward. INFORMATION In the past year, we have estate industry has seen the AND DATA TO found that customers who emergence of virtual methods EREZ ZEVULUNOV MAKE BETTER were hesitant about change to reach buyers. From live- PRESIDENT, M.I.T. CONSULTING DECISIONS, are now comfortable buying streaming open houses to Provides managed IT and WE HAVE technical and high-dollar-value cybersecurity services ramping up our social media BEEN ABLE TO items from across the world. At presence, we’re adapting Today, I could never imagine STRENGTHEN OUR home, these consumers were regularly to new forms of driving across town for a RELATIONSHIPS. forced to use Amazon and technology. These services 30-minute meeting. Now, I JASON LEONARD other online shopping services. PRESIDENT, RENTSYNC help to showcase a home can also attend conferences Provides marketing So they are now comfortable virtually and reach a new that I missed due to time software and services buying B2B products and group of buyers. Reliance on restrictions. The biggest for rental properties services online, as well.