Making Progress on Pay Equity for Women
Pax World Management moved five companies in the financial services, technology and telecom sectors -- Goldman Sachs, BNY Mellon, Verizon, AT&T and Qualcomm -- to address the gender ‘pay gap’ by enhancing their pay equity disclosure practices.
Equal Employment Opportunity
Responsible investors consider workplace diversity to be a core component of sound governance policy. This year they filed resolutions asking companies to publish charts identifying their employees according to gender and race in major EEOC-defined job categories, and to provide descriptions of policies/ programs focused on increasing gender and racial diversity in the workplace. A workplace diversity resolution filed at T. Rowe Price Associates won 36.80%, at Travelers, 36.4%, Home Depot 33.65%, and at First Republic Bank, 32.8%.
Committing to Board and Workforce Diversity
NorthStar Asset Management convinced eight companies -- Badger Meter, CVS Health, Costco, IDEX, IBM, Johnson & Johnson, A.O. Smith Corporation, and Whole Foods -- to step up their efforts to diversify their senior leadership and boards of directors, and set time-bound benchmarks to measure progress.
Trillium Asset Management persuaded an additonal four companies -- F5 Networks, Fifth Third Bancorp, Jones Lang LaSalle and Visa -- to commit to expanding their workplace diversity by moving towards setting targets.
Expanding LGBT Workplace Protections
Through the filing of shareholder resolutions, Trillium Asset Management raised enough pressure to convince Dentsply, EOG and Verisk Analytics to update their workplace non-discrimination policies to prohibit discrimination based on sexual orientation and gender identity and expression. NorthStar Asset Management also persuaded Johnson Outdoors to similarly prohibit workplace LGBT discrimination.