The only effect this will have is to diminish the perception of competence in those occupants of Canada Research Chairs who are not white males.  It will simply be assumed that all of the others were affirmative action appointments who could not secure their positions on academic merit.  The only criteria for these appointments should be an objective assessment of merit based on a person's contributions to scientific research.  One hopes that university presidents will have the courage to tell the federal government to keep their funding, and to terminate their university's participation in the program.  But that is probably too much to ask of them.