Key Takeaways
- • NYC Comptroller Brad Lander and trustees of three New York City pension systems reached agreements with Dollar Tree, Grocery Outlet Holding, and Mattel to disclose annual workforce diversity data through the EEO-1 report.
- • The Systems filed a shareowner proposal at DICK'S Sporting Goods requesting that it follow suit with annual EEO-1 disclosure.
- • The Systems' holdings as of December 31, 2023 were $28 million in Dollar Tree, $26.9 million in DICK'S Sporting Goods, $2.4 million in Mattel, and $445,694 in Grocery Outlet Holding.
- • Since the Diversity Disclosure Initiative launched in 2020, nearly all S&P 100 companies now disclose their EEO-1 reports, up from about 14 in July 2020, according to the Comptroller's office.
Summary
New York City Comptroller Brad Lander and the trustees of the New York City Employees' Retirement System (NYCERS), the New York City Teachers' Retirement System (TRS), and the New York City Board of Education Retirement System (BERS), collectively the Systems, announced on March 18, 2024 that they reached agreements with the boards of Dollar Tree, Grocery Outlet Holding and Mattel to disclose annual workforce diversity data following shareowner engagements. The Systems also filed a proposal at DICK'S Sporting Goods requesting the same disclosure.
The disclosures concern the Consolidated EEO-1 report, which is submitted annually to the U.S. Equal Employment Opportunity Commission and breaks a company's workforce down by race, ethnicity and gender across ten employment categories, including senior management. According to the Comptroller's office, the data is standardized, comparable across companies and industries, and allows investors to assess representation of employees of color and women at various levels and to make year-over-year comparisons for specific groups within job categories.
Lander said that EEO-1 data gives investors a means to hold companies accountable for their stated commitments to equity and inclusion. The announcement builds on the Diversity Disclosure Initiative the Systems launched in 2020. According to the release, nearly all S&P 100 companies now disclose their EEO-1 reports, up from about 14 in July 2020, and agreements have been reached with companies including The Home Depot, McDonald's, Netflix, Nike and Verizon.
As of December 31, 2023, the three Systems held positions valued at $26.9 million in DICK'S Sporting Goods, $28 million in Dollar Tree, $2.4 million in Mattel and $445,694 in Grocery Outlet Holding Corp. The trustee lists in the release include Mayoral appointees, borough presidents, the Public Advocate, and representatives of unions including DC 37, the Transport Workers Union Local 100 and the Teamsters Local 237.
The disclosures concern the Consolidated EEO-1 report, which is submitted annually to the U.S. Equal Employment Opportunity Commission and breaks a company's workforce down by race, ethnicity and gender across ten employment categories, including senior management. According to the Comptroller's office, the data is standardized, comparable across companies and industries, and allows investors to assess representation of employees of color and women at various levels and to make year-over-year comparisons for specific groups within job categories.
Lander said that EEO-1 data gives investors a means to hold companies accountable for their stated commitments to equity and inclusion. The announcement builds on the Diversity Disclosure Initiative the Systems launched in 2020. According to the release, nearly all S&P 100 companies now disclose their EEO-1 reports, up from about 14 in July 2020, and agreements have been reached with companies including The Home Depot, McDonald's, Netflix, Nike and Verizon.
As of December 31, 2023, the three Systems held positions valued at $26.9 million in DICK'S Sporting Goods, $28 million in Dollar Tree, $2.4 million in Mattel and $445,694 in Grocery Outlet Holding Corp. The trustee lists in the release include Mayoral appointees, borough presidents, the Public Advocate, and representatives of unions including DC 37, the Transport Workers Union Local 100 and the Teamsters Local 237.
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