Johnson & Johnson – Racial Justice Audit
To combat systemic racism, corporations should recognize and remedy industry- and company-specific barriers to everyone’s full inclusion in societal and economic participation. Racial gaps cost the U.S. economy an estimated $16 trillion over the past twenty years. Closing the Black- and Hispanic-white wealth gaps could add 4-6% to U.S. GDP by 2028. More than one year after many companies made commitments to racial justice, the practical outcomes remain unclear. Fifty corporate pledges totaling $49.5 billion were characterized as falling short of addressing systemic racism after an August 2021 analysis. Shareholders lack independent assessments that racial equity strategies are impactful, address …
NIKE, Inc. – Human Rights (2021)
RESOLVED: Shareholders request that Nike, Inc. (“Nike” or “the Company”) publish a Human Rights Impact Assessment, at reasonable cost and omitting proprietary/confidential information, examining the actual and potential human rights impacts of its cotton sourcing practices, throughout the full supply chain. SUPPORTING STATEMENT: Nike has demonstrated leadership in supply chain transparency since it first disclosed its independent factories, contracted to make NIKE products since 2005. It has become increasingly clear, however, that some of companies’ most significant and adverse social impacts occur at the very end of the supply chain, often related to the sourcing of raw materials. Recent events have …
BJ’s Wholesale Club – Diversity Report (2021)
RESOLVED: Shareholders request that the Board of Directors adopt a policy requiring BJ’s Wholesale Club Holdings Inc. (“BJ’s”) to disclose on its website BJ’s Consolidated EEO-1 Report, a comprehensive breakdown of its workforce by race, ethnicity and gender that BJ’s is required to submit annually to the U.S. Equal Employment Opportunity Commission (EEOC).The Company shall annually disclose its EEO-1 Report within 60 days of submission. The business case for workforce diversity is compelling. McKinsey & Company, for example, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings …
Alphabet – Whistleblower Protection (2021)
WHEREAS: Alphabet may face business risks related to employee morale and user trust due to insufficient protection for employees voicing ethical and human rights concerns. Whistleblower protections are vital to a well-functioning company. The Department of Labor has reported a major problem with whistleblower protections is the “lack of resources and proper tracking of complaints.” According to the Organisation for Economic Co-operation and Development, “A non- retaliation policy alone, without a system to ensure its respect (such as disciplinary action against those who retaliate), is unlikely to encourage reporting.” For years, Alphabet has faced controversies about retaliating against workers. In December …
Home Depot – EEO-1 Disclosure (2021)
WHEREAS: We believe equal employment opportunity (EEO) is both a fair employment practice and an investment issue since diversity affects shareholder value. We believe companies with good EEO records have a competitive advantage in recruiting/retaining employees. The Home Depot customers are increasingly diverse; a diverse work force can anticipate and respond effectively to consumer demand. The Home Depot annually files an EEO-1 report with the Equal Employment Opportunity Commission. Information could be made available to shareholders at minimal additional cost. In 2001, The Home Depot provided EEO information to investors upon request but, since then, reversed policy on its EEO …
CVS Health – Paid Sick Leave (2021)
RESOLVED: That shareholders of CVS Health ask the board to analyze and report on the feasibility of including the paid sick leave policy adopted in response to COVID-19 and made effective on March 22, 2020 as a standard employee benefit not limited to the duration of the pandemic. SUPPORTING STATEMENT: The COVID-19 pandemic and the economic crisis it precipitated have drawn the attention of the public and policy makers to the importance of paid sick leave (PSL) for workers and public health. Substantial media attention has focused on U.S. workers’ lack of access to PSL, especially in sectors with significant …
KeyCorp – Racial Impact of Overdraft Policies and Practices (2021)
WHEREAS: KeyBank charges a flat $33 fee when it pays a customer’s check, ATM withdrawal, or certain other electronic transactions, even though the customer’s account lacks sufficient funds to cover the charges (if the customer opts-in). In 2019, this resulted in KeyBank collecting over $148 million in overdraft/NSF fees. This represented over 7% of its non-interest income and 44% of its service charge income. According to 2018 and 2020 Center for Responsible Lending reports: account holders incurring large numbers of overdraft fees are more often low-income, single, non-white, and renters; customers often pay more in overdraft fees than the overage …
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