Bedford Group/TRANSEARCH Publishes Fifth Annual Executive Compensation Report for the Cleantech Industry

TORONTO, Nov. 13, 2025 /CNW/ - Bedford Group/TRANSEARCH has released its 2025 Report on Board and Executive Compensation in the Cleantech Industry, providing detailed analysis of pay and governance practices across 183 publicly traded companies in Canada and the United States, covering more than 850 Named Executive Officers (NEOs) and 1,300 board members.

This is Bedford's fifth annual industry-wide report on compensation awards and practices, offering a clear view into how companies are adapting to a year marked by policy shocks, capital constraints, and heightened expectations for leadership performance.

"The cleantech sector has reached an inflection point where compensation design is directly tied to execution," said Amrit Sandhu, Client Partner – Cleantech, AI & the Built World at Bedford Group/TRANSEARCH. "We're seeing a decisive move away from compensating for potential growth toward rewarding tangible progress, capital efficiency, and long-term value creation."

Key Highlights from the 2025 Report:

• Base Pay Rises, But Total Comp Slips in Some Tiers: While base salaries rose across most NEO categories, especially for CEOs and CFOs, median total compensation declined in several tiers due to reduced equity and bonus values. This disconnect reflects market volatility and shifts in how performance is rewarded.
• Board Pay: Less Complexity, More Retainers: Board compensation remains largely retainer-based, with equity scaling by company size. Meeting fees are increasingly rare, and audit roles continue to command the highest premiums among committee positions.
• Turnover Pressures Persist:
• CEO turnover eased slightly to 14.8%, but CFO turnover climbed to 28.4%, highlighting ongoing leadership instability.
• Legal Representatives were the only NEO group to see consistent compensation growth and had the lowest turnover (7%). They were also the most gender-diverse, with 33% identifying as female.
• Diversity: Mixed Signals
• Female board representation rose to 28.5%, up from 22% in Bedford's 2021 report.
• However, female representation among CEOs dropped to just 3.7%, and only 10.1% of board chairs identified as female in 2024. Executive diversity remains a critical challenge.
• Say on Pay Gains Ground:
• 56% of companies now include a Say on Pay vote in their proxy circulars, up from previous years, signaling growing shareholder scrutiny.

With cleantech contributing more than C$80 billion to Canada's GDP and supporting over 327,000 jobs, attracting and retaining executive talent remains critical to sustaining this growth. Bedford's analysis suggests continued upward pressure on key roles as companies compete for leaders who can manage capital discipline, regulatory complexity, and commercial scale in a rapidly shifting landscape.

The full 2025 Cleantech Executive and Board Compensation and Governance Report is available now at bedfordgroup.com. In addition to detailed benchmarks across market cap tiers, the report provides analysis of incentive design, governance, Say on Pay practices, and diversity progress. Boards and executives can use the study to test the competitiveness of their own programs – and, with Bedford's advisory expertise in compensation strategy, governance, and executive search, align pay and leadership with the long-term needs of the business.

Access the report here. | The Bedford Group/TRANSEARCH

About Bedford Group/TRANSEARCH
Bedford Group/TRANSEARCH is one of North America's leading privately held executive search and talent strategy firms, with offices in Toronto, Calgary, Montreal, Vancouver and Boston. Founded in 1980, Bedford Group is the North American partner of TRANSEARCH International and one of the Top 10 largest executive search firms in the world, with 60 offices in 40 countries.

SOURCE Bedford Group/TRANSEARCH