Fresh Off of Win with Mastercard, Leading U.S. Proponent of Gender Pay Equity Shareholder Resolutions Provides 2020 Forecast
Mastercard Decision Today on Gender Pay Gap Disclosure Makes It 22nd Company to Respond to Arjuna Capital Resolution Since 2016; Coming Up: 17 Companies – Including Adobe, Amazon, American Express, Facebook, Twitter, and Wells Fargo – Face Arjuna Capital Resolutions.
BOSTON–(BUSINESS WIRE)–NEWS ADVISORY – With the announcement today by Mastercard that it will comply with requests to release detailed gender pay equity data (including its global median pay gap), Arjuna Capital will hold a media briefing at 1:30 p.m. ET Wednesday (March 4th) to outline its 2020 shareholder season featuring 19 resolutions at 17 companies. Of these resolutions, roughly two thirds (13) focus on gender/racial pay equity.
Commenting on today’s decision by Mastercard, Arjuna Capital managing partner Natasha Lamb said: “We are pleased to see another victory in what has been a very successful shareholder advocacy effort unfolding over the last five years. This is the third year we have filed a shareholder proposal with Mastercard on our investors’ behalf, and the company and board has chosen to step into leadership rather than oppose our request. Nearly two dozen companies have now responded proactively to the Arjuna-led pay equity campaign, and companies like Citi, Starbucks, and now Mastercard are beginning to present more detailed information, including global median pay gap data, that we think constitutes a fulsome, honest accounting of the gender pay gap. Mastercard is among those creating best-practice disclosure, underlining the importance of transparency as a driver of greater equality, and putting more pressure on its peers to step up their own company disclosures.”
WHAT/WHY?:
Arjuna Capital is an investor champion of workplace concerns for women and minorities, touting the business case for equity and diversity in corporate ranks. In 2019 and 2018, Arjuna persuaded Starbucks, Citibank, J.P. Morgan, Wells Fargo, Bank of America, Bank of New York Mellon, American Express, Mastercard, Reinsurance Group and Progressive to publish their gender and racial pay gaps on an equal pay for equal work basis. Since 2016, Arjuna Capital has compelled disclosures from 22 companies, including leading U.S. tech and retail firms Apple, Amazon, Intel, Microsoft, Google, Facebook, eBay, Adobe, Expedia, and Nike. Now, Arjuna Capital is returning in the 2020 shareholder season with 13 new shareholder resolutions promoting more detailed gender/racial pay equity disclosure.
In addition to the pending gender/racial pay equity proxy measures, the Arjuna Capital 2020 shareholder season forecast also will cover climate risk resolutions (Chevron and ExxonMobil), the need for human/civil rights board experts (Twitter, Facebook and Alphabet/Google), and workplace sexual harassment (NBC/Comcast).
WHO:
Natasha Lamb, managing partner, Arjuna Capital; and
David Cohen, co-chair and co-founder, The Institute for Workplace Equality.
WHEN:
1:30 p.m. ET, March 4 (Wednesday).
WHERE:
Members of the news media may dial 1-877-418-4267 by no later than 1:25 p.m. EST on March 4th. Ask for the “Arjuna 2020 shareholder season overview” news event call.
Arjuna Capital is a sustainable and impact investment firm that works with high-net-worth individuals, families, and institutions to invest with a lens toward Environmental, Social, and Governance (ESG) risk and opportunity. Natasha Lamb and Arjuna Capital have been recognized for using shareholder resolutions to promote gender and racial pay equity in the tech, banking, and retail sectors. Natasha Lamb was named to the “Bloomberg 50” list of influencers who defined global business in 2017. For more information, visit www.arjuna-capital.com.
Contacts
Alexander Frank | 703-276-3264 | afrank@hastingsgroup.com