Two years after George Floyd’s killing, Big Tech shareholders continue racial-justice push

Exactly two years after George Floyd was killed by police, sparking widespread protests and prompting companies to declare their commitments to racial justice, investors in a couple of Big Tech companies will vote Wednesday on an array of shareholder proposals that either specifically mention racial justice or are tied to it.

The numbers show that’s true: Shareholder resolutions calling for civil-rights and racial-equity audits reached a record number, 34, this proxy season, according to Interfaith Center on Corporate Responsibility, a shareholder-advocacy organization. ICCR said its more than 300 institutional-investor member organizations filed a record-breaking 485 resolutions, 105 of which are related to racial justice, which also is a record.

The proposal also mentions that Alphabet has been accused of retaliating against employees who brought up issues of discrimination, and cites news reports that when employees reported racism, “they were told to ‘assume good intent,’ seek counseling, or take leave.” Meanwhile, Meta is facing a proposal, which includes racial-justice concerns, for more information about the effects of its much-touted metaverse, or immersive virtual world. In its resolution, Arjuna Capital said it is seeking a third-party audit because “the same issues Facebook is reckoning with — discrimination, human and civil rights violations, incitement to violence, and privacy violations — may be heightened in the metaverse.

Meta investors will also vote on a civil-rights and nondiscrimination audit proposal that alleges the Facebook parent company’s anti-racist policies are themselves racist and discriminatory against employees “deemed non-diverse.” The proposal, which suggests that Meta’s anti-racist and diversity policies mean pay and authority at the company are therefore not based on merit, was submitted by the National Center for Public Policy Research, a conservative think tank.

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