NY State Comptroller Seeks Corporate Action on DEI Issues

New York State Comptroller Thomas DiNapoli has announced a series of shareholder proposals and other initiatives to increase corporate accountability and ensure progress on diversity, equity and inclusion-related (DEI) issues across the New York State Common Retirement Fund’s portfolio. DiNapoli and the state pension fund refiled a shareholder proposal at US-based restaurant chain Chipotle, seeking an independent audit of the company’s practices related to civil rights, racial equity, diversity and inclusion, and how these affect the company’s business. Shareholder proposals have also been filed at Universal Health Services and Brinker International, requesting the companies disclose progress on improving DEI in their workplaces. DiNapoli and the state pension fund have also filed shareholder proposals with investee companies on issues related to discrimination and harassment disclosure at Activision Blizzard, Pinterest and Wells Fargo, as well as two initiatives focused on health care equity filed at Humana and Elevance Health that seek analysis of racial and ethnic disparities in healthcare outcomes. “We encourage the fund’s portfolio companies to ensure DEI throughout their businesses not just because it is the right thing to do, but because they will be better positioned to prosper in the long-term,” DiNapoli said in a statement. “As a major investor, focused on safeguarding our pension fund’s long-term value, we call on portfolio companies to adopt best practices that benefit their bottom line. More and more companies are making real progress, but more work needs to be done.

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