Investors are calling on 82 companies to stop funding voter suppression
A group of state treasurers, public pension funds and foundations challenged the boards of directors of Facebook Inc., Exxon Mobil Corp. and other companies to stop donations to elected officials who supported voter suppression efforts or who voted against certification for the 2020 presidential election.
The group, which includes the California Public Employee Pension Scheme and the Rhode Island Treasury, posted a letter on Wednesday to the boards of directors of more than 80 companies, including major banks, retailers, and tech companies like Citigroup Inc., Walmart Inc. and Microsoft Corp.
According to a statement released Thursday, the coalition called on companies to change their policies to ban contributions from candidates or campaign committees who have supported efforts to restrict voting rights or otherwise promote the civil rights of people of color. The group, organized by Majority Action, a nonprofit shareholder advocacy group, and the Service Employees International Union, also urged its target individuals to disclose all political donations.
“As state treasurer, I am fully committed to ensuring that all citizens exercise their constitutional right to vote,” said
After the deadly riot in the US Capitol in January, many companies have
“The time of half measures is over,” said Eli Kasargod-Staub, co-founder of Majority Action. “Systemic racism creates significant specific risks for long-term shareholders.”
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