(Bloomberg) -- The New York State Common Retirement Fund is asking shareholders of Amazon.com Inc., Chipotle Mexican Grill Inc., Match Group Inc. and two retailers to support independent studies of how the businesses may contribute to racial inequities.
State Comptroller Thomas DiNapoli, who oversees the fund’s $267.8 billion in assets for government employees, filed proposals seeking third-party reviews of the companies’ policies. Shareholders increasingly are seeking so-called racial equity audits following widespread protests for racial justice after the 2020 murder of George Floyd.
In the case of Amazon, the world’s fifth-most valuable company with a market capitalization of more than $1.6 trillion, DiNapoli is refiling a request after the company didn’t conduct an audit despite 44.2% of shareholders who voted supporting the proposal last year.
Chipotle is being asked for information regarding its workplace practices as they relate to employees of color. Match, the online dating service, is asked how its product may be reinforcing or contributing to racial bias. For retailers Dollar Tree Inc. and Dollar General Corp., the pension fund is asking for more information on the stores’ impact in low-income and minority communities, as well as their workplace practices.
“Companies are responsible for their business practices and must ensure that they do not harm their bottom line,” DiNapoli said in a statement. “Our state’s pension fund is committed to ensuring the companies we invest in address racial equity. Research shows that ensuring equal treatment and opportunities benefits performance.”
Spokespeople for the companies didn’t immediately return requests for comment.
In December, Tyson Foods Inc. agreed to conduct a racial audit, heading off a shareholder proposal from the American Baptist Home Mission Societies. The meatpacking giant will commission a study looking at its workplace practices and how they impact employees of color. BlackRock Inc. and Citigroup Inc. also agreed to conduct such an audit last year.
Read more: Tyson Agrees to Perform Racial Audit After Outcry Over Workers
Starbucks Corp. and Airbnb Inc. held studies of their own, without shareholder resolutions, several years ago. The audit resulted in Airbnb asking users of their short-term rental housing service to accept a nondiscrimination agreement, eliminating those users who refused.
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Amazon and Match Are Among Firms Asked by New York Pension for Racial Audit - BNN
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