Citigroup, Wells Fargo, Bank of America, Goldman Sachs, JP Morgan urge Why Are Goldman Sachs And JPMorgan Looking To Avoid Racial Equity Audits? What Makes Patagonia A World Leader in Sustainability, Medium, Tom & Jerry, January 13, 2021, available at https://medium.com/climate-conscious/what-makes-patagonia-a-world-leader-in-sustainability-486073f0daa. Citi's Action for Racial Equity Initiative Invests $1 Billion to Wells Fargo agrees to racial equity audit | American Banker (go back), 73As You Sow: Racial Justice, available at https://www.asyousow.org/our-work/social-justice/racial-justice. At Morgan Stanley, giving back is a core valuea central part of our culture globally. [132] However, as Racial Equity Audits become more commonplace and enter the cultural norm, these proposals may begin to resonate with more stakeholders and be approved by shareholders as early as the next proxy season. 16, 1992)). BlackRock breaks Wall Street ranks with planned racial audit The two leading proxy advisory firms, ISS and Glass Lewis & Co. LLC (Glass Lewis), have generally taken opposing views on Racial Equity Audits. Racial Equity Audits can focus on various aspects of a companys business, including the treatment of customers at a companys physical locations, the diversity of senior management, the targeting of products, and even political contributions. An example of a project with high-impact priority elements is The Villages of East River. https://www.sec.gov/news/public-statement/lee-statement-review-climate-related-disclosure.

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