SEC blocks Inc’s move to stop non-binding racial equity audit

In a significant development, the SEC turned down an exemption sought by Inc to stop its investors from considering a shareholder proposal related to racial equity at its upcoming annual general meeting (AGM).

The SEC’s decision comes in the wake of an appeal from Amazon to block the non-binding proposal from being voted on at its AGM.

The proposal was first filed by New York State Comptroller Thomas DiNapoli on behalf of New York State Common Retirement Fund in December 2020; it sought an independent audit of the company’s policies and practices on civil rights and racial discrimination.

“An independent examination of just how Amazon is addressing racial injustice in its workplace, in the wages it pays and in the products it sells, will help ensure the company is confronting institutionalized inequality and the impact on its business,” said DiNapoli. Amazon did not immediately respond to requests for comments.

Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: