Disney Shareholders Reject Proposal to Withdraw from Human Rights Campaign’s Corporate Equality Index
In a recent shareholder meeting, Disney shareholders voted against an investor proposal to withdraw the company’s participation in the Human Rights Campaign’s (HRC) Corporate Equality Index. This index rates workplaces on their policies and practices related to lesbian, gay, bisexual, transgender, and queer (LGBTQ) equality.
Background on the Corporate Equality Index
The Corporate Equality Index (CEI) is an annual survey conducted by the Human Rights Campaign Foundation. The CEI rates companies based on their non-discrimination policies, benefits, and practices related to LGBTQ employees. A company that receives a perfect score of 100 on the CEI is considered a “Best Place to Work for LGBTQ Equality.”
The Investor Proposal
The investor proposal, which was put forth by the shareholder group As You Sow, urged Disney to withdraw from the CEI and focus on “core business issues rather than social and political causes.” The proposal gained the support of some large institutional investors, including the California State Teachers’ Retirement System (CalSTRS) and the Florida State Board of Administration.
The Vote
Despite the support of some major investors, the proposal was rejected by a majority of Disney shareholders. The final tally was 41.2% in favor of the proposal and 58.8% against it.
Impact on Disney
The rejection of the proposal is a strong signal that Disney shareholders value the company’s commitment to LGBTQ equality. Disney has long been a leader in this area, with policies such as offering benefits to same-sex spouses and partners, providing gender identity transition benefits, and having a strong anti-discrimination policy. By continuing to participate in the CEI, Disney is demonstrating its commitment to creating a welcoming and inclusive workplace for all employees.
Impact on the World
The outcome of the Disney shareholder vote is significant beyond just the company itself. It sends a message to other businesses that investing in LGBTQ equality is not only the right thing to do, but also a smart business decision. A company that is known for its inclusive policies and practices is more likely to attract and retain top talent, as well as build a loyal customer base. Additionally, the rejection of the proposal shows that investors are increasingly focusing on a company’s social and environmental impact, and not just its financial performance.
Conclusion
The rejection of the proposal to withdraw from the Human Rights Campaign’s Corporate Equality Index by Disney shareholders is a clear indication that companies that prioritize LGBTQ equality are not only doing the right thing, but also making smart business decisions. This trend is not only beneficial for Disney, but also for the world as a whole, as more and more companies recognize the importance of creating a welcoming and inclusive workplace for all employees.
- Disney shareholders rejected an investor proposal to withdraw from the Human Rights Campaign’s Corporate Equality Index
- The CEI rates workplaces on policies and practices related to LGBTQ equality
- The investor proposal urged Disney to focus on core business issues
- Despite support from major institutional investors, the proposal was rejected by a majority of shareholders
- The rejection of the proposal demonstrates Disney’s commitment to LGBTQ equality
- The outcome sends a message to other businesses that investing in LGBTQ equality is a smart business decision
