US Companies Make Progress on Diversity

Shareholder advocacy non-profit As You Sow has updated its racial justice and workplace equity scorecards, noting that the 1,000 largest publicly-traded US companies are taking positive steps towards increasing their transparency and accountability. The racial scorecard covers 27 KPIs, such as company policies and environmental racisms, whereas the workplace equity scorecard includes 31 KPIs, including diversity, equity and inclusion. Each company included in the scorecards are ranked against their peers, allowing investors to compare performance. Companies in the top ten across both scorecards include Lululemon and PayPal. Berkshire Hathaway featured in the bottom ten for both racial justice and workplace equity. Meredith Benton, As You Sow’s Workplace Equity Programme Manager and Founder of Whistle Stop Capital, said: “A company that refuses to provide diversity and inclusion data is at a competitive disadvantage. Shareholders see this as a material risk that is at odds with our current culture and the priorities of employees, consumers, and investors. We have spoken to hundreds of companies about the need to be open and transparent on workplace equity; not one has told us that this information is unimportant internally. The timeline for when, not if, the data will be released is most often the focus of our conversations.”  

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