International

Investors urge companies to address racial equity

February 5, 2021
hands of different skin tones intertwined

In the summer of 2020, the death of George Floyd brought resounding calls for racial justice. Recognizing the importance of using our voice to advocate for systemic change, Mercy Investment Services expanded our dialogues with companies across all sectors, asking several questions to determine companies’ stance on anti-racism. During the current shareholder advocacy season, Mercy Investment Services filed resolutions specifically related to racial equity at two companies:

  • Alphabet (Google’s parent company): Shareholders requested a report assessing the feasibility of integrating sustainability metrics, including metrics regarding diversity among senior executives, into performance measures that apply to executives’ compensation.
  • Amazon: Shareholders requested that the Board of Directors commission a racial equity audit analyzing Amazon’s impacts on civil rights, equity, diversity and inclusion, and their impact on Amazon’s business. A second resolution asked for the board to commission an independent study of Rekognition, Amazon’s facial recognition software, and report to shareholders on a number of human rights issues. Studies have repeatedly shown facial recognition software is biased against people of color.

 

Mercy Investment Services will continue to address racial equity through our investments and with the companies we engage.