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 …
Apple, Inc – Human Rights (2021)
RESOLVED: Shareholders of Apple Inc. (“Apple” or the “Company”) request that the Board of Directors report annually to shareholders, at reasonable expense and excluding confidential and proprietary information, on Apple’s management systems and processes for implementing its human rights policy commitments regarding freedom of expression and access to information; the oversight mechanisms for administering such policy commitments; and a description of the actions Apple has taken in response to government or other third-party demands that were reasonably likely to limit free expression or access to information. SUPPORTING STATEMENT: Apple sells products and services in countries whose governments limit free expression …
Johnson & Johnson – Civil Rights Audit (2021)
WHEREAS : The Black Lives Matter protests of 2020 brought the significant policy issue of systemic racism to the forefront of a widespread public discussion and reckoning in America. It is clear that business as usual in the healthcare sector can result in disparate outcomes for Black Americans. For example, a recent Eli Lilly op-ed notes “Minorities make up nearly 40 percent of the U.S. population but less than 20 percent of participants in the key clinical trials…. [t]his low participation is itself a health disparity.” Further, the mortality rate for black women diagnosed with breast cancer is 42 percent higher …
Alphabet, Inc. – Whistleblower Protection (2020)
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 regarding company practices. Resourcing whistleblower protections is vital to a well-functioning system. For example, the U.S. Department of Labor has reported a major problem with whistleblower protections is the “lack of resources and proper tracking of complaints, as well as a complicated patchwork of regulations that aim to protect whistleblowers.” And 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 …
Home Depot – Workforce Diversity (2020)
WHEREAS: Equal employment opportunity (EEO) is a fair employment practice and an investment issue. We believe companies with good EEO records have a competitive advantage in recruiting/retaining employees. We believe Home Depot customers are increasingly diverse. A diverse work force is more likely to anticipate and respond effectively to consumer demand. EEO practices have economic relevance. Home Depot annually files an EEO-1 report with the Equal Employment Opportunity Commission. This information could be available to shareholders at a minimal additional cost. In 2001, Home Depot provided EEO information to investors upon request. Since then, Home Depot reversed policy on its …
Marriott International – Workforce Diversity (2020)
WHEREAS: 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 performance than those with low diversity. Companies in the top quartile for gender diversity on executive teams were 21 percent more likely to have industry-leading profitability. Companies in the top quartile for ethnic/cultural diversity were 33 percent more likely to have industry-leading profitability. In 2019, Marriott’s CEO signed the Business Roundtable’s “Statement on the Purpose of a Corporation,” joining 180 chief executives who publicly …
Travelers Companies – Workforce Diversity (2020)
WHEREAS: Travelers Companies states that “diversity and inclusion is a business imperative for us” and “We are committed to not only increasing diversity in our hiring at all levels but also fostering an inclusive environment where all employees can develop and thrive.” However, all six of Travelers named executive officers are white males. Women represent only 24% of the 26 member executive team, but comprise 55% of the company’s total workforce. Beyond this, Travelers Companies does not disclose comprehensive workforce data, or disclose results of diversity initiatives. As a result, shareholders have insufficient information to determine if Travelers Companies has …
Hanesbrands, Inc. – Workforce Diversity (2020)
WHEREAS: The business case for workforce diversity is compelling. A growing body of empirical research indicates a significant positive relationship between firm value and the percentage of women and people of color in senior leadership roles. McKinsey & Company, for example, found companies in the top quartile for gender or racial ethnicity are more likely to financially outperform national industry medians. Specifically, companies with greater ethnic diversity were 35 percent more likely to outperform. For every 10 percent increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes rise 0.8 percent. In a study released …
Marathon Petroleum – Community Impacts (2020)
Whereas: Marathon Petroleum states that “the well-being of our employees, contractors and neighboring communities is our highest priority…[and] minimizing our environmental impact is a serious priority.” Marathon has one of the largest inventory of toxic hydrogen fluoride among US refiners subjecting the company to myriad risks. According to the EPA, Marathon’s Garyville, Louisiana facility handles 445 tons on site – the most hydrogen fluoride of any of the 48 U.S. refineries reporting inventories. Its Texas City, Texas facility reported storing 180 tons to the EPA. In June 2019, an explosion of hydrogen fluoride at a Philadelphia oil refinery, which stores …
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