Trillium Commends Governor Baker and the Massachusetts Legislature on Approval of Equal Pay Bill
Boston, MA // August 11, 2016: At Trillium, we believe that the gender wage gap deserves significant attention by today’s policymakers. While we’ve found that shareholder advocacy can have a positive impact on company policies, legislation is the most effective means of leading change and eliminating differences in pay between genders.
Governor Charlie Baker recently signed a bipartisan bill, sponsored by Senator Pat Jehlen and Representatives Jay Livingstone and Ellen Story, which will ensure equal pay for comparable work in the state of Massachusetts. The bill will prevent pay discrimination based on gender and will go into effect on July 1, 2018 for Massachusetts employers and employees. Trillium believes that companies and employees benefit from corporate-wide efforts to prevent discrimination in the workplace.
For over 30 years, Trillium has utilized shareholder advocacy to encourage companies to implement specific policies or actions. Whether engaging in direct dialogue with senior leadership or filing shareholder proposals, we’ve urged numerous companies to adopt policies that document compensation practices and eliminate pay disparities in the workplace.
Trillium recently conducted our own review of employee compensation to determine whether there is gender pay gap within our firm. After controlling for experience, role, training, and certification, our analysis found that gender has no impact on pay at our company.
We are confident that these types of changes to state-wide policies will encourage other policymakers to develop legislation that eliminates discriminatory practices in the workplace.
Read the press release here.
Trillium engages companies on environmental, social, and governance (ESG) issues and encourages them to establish policies and goals that are consistent with long-term company and shareholder interests.