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Apple receives a ‘B’ in new Racial and Gender Pay Scorecard’

Arjuna Capital and Proxy Impact has released their 6th annual “Racial and Gender Pay Scorecard” to mark Equal Pay Day on March 14. Apple received a “B” grade on the report.

Of the 68 companies examined, 13 — Target, Starbucks, Mastercard, Microsoft, Pfizer, Bank of New York Mellon, Citigroup, Adobe, American Express, Visa, Lowe’s, Best Buy, and Home Depot — received an “A,” while 25 companies received an “F.” Target is the first company in the history of the scorecard to earn a perfect score — A+.

The grades are based on quantitative disclosures (versus qualitative assurances). The 68 companies in the ranking have all been engaged by investors through shareholder proposals and asked to improve their pay equity disclosures.

In addition to Apple, other companies receiving a “B” score are: thermo Fisher, Chipotle, Nike, Progressive Insurance, Key Corp., McDonald’s, Wells Fargo, Amalgamated Bank, Marsh & McLennan, Bank of American, Verizon Communication, and the Walt Disney Company.

Target receives the 1st perfect score of A+ on the “Racial and Gender Pay Scorecard,” with Starbucks close behind. Both companies report 100% racial and gender pay equity on both an adjusted and unadjusted median basis for 100% of their employee population, assessed on all components of compensation — base, bonus, and equity. 

The “Racial and Gender Pay Scorecard” assesses companies’ pay equity data against best-practice pay equity reporting standards, which consist of two important elements: (1) unadjusted median pay gaps, assessing how jobs are distributed by race and gender and which groups hold the high-paying jobs, and (2) statistically adjusted gaps, assessing pay between minorities and non-minorities, men and women, performing similar roles. 

Arjuna Capital is an investment service. a private firm that consults with left-leaning organizations on how to conduct shareholder proxy vote campaigns.




Article provided with permission from AppleWorld.Today
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