BOSTON–(BUSINESS WIRE)–Of 57 companies examined in the “Racial and Gender Pay Scorecard” released today to mark Equal Pay Day on March 15th, only seven — Pfizer, Mastercard, Bank of New York Mellon, Starbucks, Adobe, American Express, and Citigroup – get an “A,” while twenty-four companies receive an “F.”
The fifth edition of the Scorecard is being released today by the investment management firm Arjuna Capital and shareholder advocacy firm Proxy Impact. The grades are based on quantitative disclosures (versus qualitative assurances) by companies taking concrete steps to close racial and gender pay gaps. The 57 companies in the ranking have all been engaged by investors through the shareholder proposal process and asked to improve their public pay equity disclosures.
Natasha Lamb, managing partner, Arjuna Capital, said: “The pandemic has been a one-two punch for women and people of color who disproportionately suffered from the 2020 job losses. It’s no surprise that racial and gender pay equity has become a key area of focus for investors, who are demanding more from companies. Just last week, nearly 60% of shareholders voted in favor of an investor proposal asking Disney to disclose racial and gender pay gaps, underlining the material importance of pay equity to institutional investors.”
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