Re: The Goldman Sachs Group, Inc. BOSTON, November 9, 2021 State Street fully embraces the importance and value of diversity, equity and inclusion and is committed to playing a significant role in promoting and achieving each. "Investors want a better sense of what companies are doing to address racial equity." Racial equity audits are on the rise. At Goldman Sachs Group Inc., 29% of shareholders voted for an audit at the companys annual meeting Thursday. Conducting a racial equity audit at this point in time would not provide us with useful additional information, states the JPMorgan proxy statement. Goldman Sachs is one of a number of banks urging shareholders to vote against a proposal for a third-party racial audit. Nationwide, employees in the lucrative securities industry are 80.5 percent white, 5.8 percent Black, 11.5 percent Asian, and 8.1 percent Latino. In 2020, we created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity. ICCR-member proposal filings on racial justice issues continue to grow and are the second-most frequently filed category of resolutions for 2022, largely because of 32 resolutions that ask for racial equity audits (REAs) and civil rights audits (CRAs). SEIU, a North American labor union representing 2 million workers, has introduced We believe our shareholders would be better served by the Firms vigilant focus on building on current momentum to maintain a culture of respect and inclusion and advance racial equity. The companies won: A majority of investors voted against proposals requiring racial audits and more disclosures. Racial Equity Audit In light of the protests sparked by the murder of George Floyd in June 2020, the CtW Investment Group has requested systemically important financial institutions to conduct The bank enlisted Washington-based law firm Covington & Burling for the assessment, which will include input from internal and external stakeholders. 11/09/2021. In Internal Audit, we ensure that Goldman Sachs maintains effective controls by assessing the reliability of financial reports, monitoring the firms compliance with laws and The $10 At Goldman Sachs Group Inc., 29% of shareholders voted for an audit at the companys annual meeting Thursday. Citigroup, Wells Fargo, Bank of America, Goldman Sachs, JP Morgan urge shareholders to vote against racial-equity audits Published: March 17, 2021 at 8:21 p.m. The board of directors of Goldman recommended that shareholders vote against the shareholder proposal on a Racial Equity Audit, saying it has taken additional steps toward racial Conducting a racial equity audit at this point in time would not provide us with useful additional information, states the JPMorgan proxy statement. Shareholder proposals for independent racial audits filed at Johnson & Johnson and Citigroup Inc. received backing from more than a third of shareholders at annual meetings Shareholder proposals for independent racial audits filed at Johnson & Johnson and Citigroup Inc. received backing from more than a third of shareholders at annual meetings this month. Goldman investors voted no on three other shareholder proposals, including one requesting a racial equity audit report. Dive Brief: Wells Fargo commissioned a third-party racial-equity audit meant to examine Wells Fargos ties to diverse communities and support of diversity in its workforce, the bank said Tuesday. The Goldman Sachs Group, Inc. Capital Markets 4/29/2021 Report on Racial Equity Audit Diversity and Inclusion Against For We generally support shareholder resolutions seeking reasonable disclosure of the environmental or social impact of a companys policies, operations or products. Despite this, CtW Investment Group , a company holding corporations accountable, calls for financial institutions to perform racial equity audits, according to Forbes. That shareholders of Goldman Sachs Group Inc. (Goldman) urge the Board of Directors to oversee an independent racial equity audit analyzing Goldmans impacts on nonwhite stakeholders and Goldman Sachs and JPMorgan shareholders have turned away from racial equity audits in a Forbes report. As David Solomon, our Chairman and CEO, What We Do. The $10 million Fund for Racial Equity builds upon more than $200 million Goldman Sachs has granted over the last decade to organizations serving communities of color. Most recently, as part of the Goldman Sachs COVID-19 Relief Fund, the firm deployed $17 million to organizations supporting relief efforts in communities of color. The fund Yes, but: Companies including J&J, Citi and Goldman Sachs recommended shareholders vote against the proposals noting they are already taking steps on this front. In this edition of SIFMAs Diversity, Equity & Inclusion (DEI) podcast series, SIFMAs Amena Ross, Managing Director of Advocacy, sat down with Erika Brown, Chief Diversity Officer at Goldman Sachs, about Goldman Sachs commitment to diversity and inclusion, and the efforts they are making towards achieving racial equity. Goldman Sachs is focused on creating a workforce from the widest range of experiences, ethnicities, cultures and backgrounds. No major proxy advisory firm has issued official voting guidance on the implementation of Racial Equity Auditsand the two largest advisory firms, ISS and Glass Lewis, have been split on their support for shareholder proposals requesting such audits. [133] The investors recommendations called for a deep-dive Shareholder Proposal of James McRitchie and Myra K. Young Ladies and Gentlemen: By letter dated March 16, 2021, The Shareholder Commons, on behalf of James McRitchie and Myra K.Young (the Proponents), requested (i) that the staff of the Division of Corporation Finance (the This proxy season, shareholders will have the opportunity to vote on a new proposal calling for racial equity audits at major companies including Amazon, Johnson & Johnson, Bank of Goldman Sachs and JPMorgan shareholders have turned away from racial equity audits in a Forbes report. NEW YORK, June 3, 2020 Goldman Sachs today announced it has created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations In the latest episode of Exchanges at Goldman Sachs, Goldman Sachs Researchs Hui Shan, chief China Leslie Odom Jr. discusses the role that the arts play in the current We created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity. In 2020, we created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity. The audits are aimed at determining whether corporate policies cause, reinforce or perpetuate racial discrimination. Here's what the trend could mean for your business. Goldman investors voted no on three other shareholder proposals, including one requesting a racial equity audit report. Civil Rights Audit Statement. Despite this, CtW Investment Group, a company holding corporations accountable, calls for financial institutions to perform racial equity audits, according to Forbes. Large banks have been busy this proxy season repelling efforts by activist shareholders to require outside examinations of whether their businesses are contributing to ET The $10 A. What Are Racial Equity Audits? A Racial Equity Audit is, at its core, an independent, objective and holistic analysis of a companys policies, practices, products, services and efforts to combat systemic racism in order to end discrimination within or exhibited by the company with respect to its customers, suppliers or other stakeholders. In recent days, they have all officially opposed shareholder groups calls for them to conduct and publicize racial-equity audits and other changes, saying they are already doing enough to address equity issues. 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