airbnb racial equity audit

In the U.S. market there are now over 600 ESG funds and exchange-traded funds for investors to choose from with approximately $161 billion in assets under management (AUM), which is more than double the AUM of ESG funds in 2010. Read More About: airbnb.com/against-discrimination. (go back), 34Starbucks Steps Up Its Racial Justice Outreach With $100 Million Pledge, Forbes, Kori Hale, January 20, 2021, available at https://www.forbes.com/sites/korihale/2021/01/20/starbucks-steps-up-its-racial-justice-outreach-with-100-million-pledge/?sh=53b94b63389c. And lastly, whether a company has sufficient mechanisms in place to monitor effectiveness. [141]. According to Wenah, Airbnb lost 1.3 million users after launching the Community Commitment. (go back), 67Google Pressured on Racial Equity Audit After AI Ethics Collapse, Bloomberg, Naomi Mix, April 27, 2021, available at https://www.bloomberg.com/news/articles/2021-04-27/google-pressured-on-racial-equity-audit-after-ai-ethics-collapse; see also supra Section II.A. [34]. He agreed and was personally concerned that there was an unacceptable lack of urgency around Airbnb's previous attempts to address allegations of racial bias within the Airbnb community, and vowed that such unconsciousness would not Racial equity audits of corporations originated, raised further concerns about justice issues, the company committed multiple violations of employees rights. Legislative or regulatory requirements are not without their own risks, and compliance with any such minimum standards would not be fool proof to insulate a company from potential ESG proposals and proxy campaigns. [123], While the financial institutions that have received Racial Equity Audit proposals have recently made philanthropic and strategic investments, along with other commitments to racial equity, CtW has stated that the only way to effectively address racial injustice and economic inequality is careful study of how the industrys products and services have contributed to this imbalance, [124] which includes analyzing mortgage issuances, the number of bank branches in minority neighborhoods or banking deserts and whether charitable contributions are fully aligned with . Before launching Project Lighthouse, Airbnb consulted a number of civil rights and privacy organizations, including Color of Change. (go back), 119See Webinar, Thomas DiNapoli, New York State Comptroller, supra note 23. (go back), 95For a detailed discussion of BlackRocks decision to implement a Racial Equity Audit, see Section IV.A. The most wishlisted Design and Creative Space stays for inspiring retreats, Visit North Carolina and Airbnb relaunch partnership to boost rural tourism, Get to know your Host community in Europe: Meet Katerina from Greece. [22]. Laura Murphy, the ACLU veteran who pioneered business civil rights audits and led the analysis of Airbnb and. [52] Practitioners also stress the importance of identifying and engaging the process owners (e.g., the Chief Executive Officer, Chief Legal Officer or Chief Diversity, Equity and Inclusion Officer) as the persons who will actually drive the implementation of recommended initiatives. According to Laura Murphy, a prominent civil rights leader and civil rights auditor, a civil rights audit is an independent, systematic examination of significant civil rights and racial equity issues that may exist in a company and provides a plan of action to address those issues in a thorough, deliberate, timely, and transparent manner. Companies and in turn shareholders face significant risks if civil rights problems are not remedied, including reputational, regulatory, and litigation risks. This years racial equity audit proposal highlights the companys Corporate PAC giving, as well as high profile incidents at stores such as the suspension and forced resignation of an employee who refused to remove a Black Lives Matter (BLM) logo from his apron. (go back), 43Webinar, Vivian Gray, SEIU Pension Fund Trustee, supra note 23. 1, Reuters, Svea Herbst-Bayliss, Gary McWilliams, December 7, 2020, available at https://www.reuters.com/article/exxon-shareholders-engine-no-1/exxon-faces-proxy-fight-launched-by-new-activist-firm-engine-no-1-idUSKBN28H2IO. In its advertising products, Google has blocked companies from using racial justice terms like Black Lives Matter while allowing advertisers to search and place their content on tens of millions of videos tagged with white nationalist terms like White Power or White Lives Matter. The proponent of the racial equity audit proposal, Nathan Cummings Foundation, is concerned that many of Alphabets business practices are enabling racism and discrimination, posing legal, financial, and reputational risk.. [58] The audit produced three reports, which ultimately described how Facebook utilized the audit process to listen, plan and deliver on various consequential changes that will help advance the civil rights of its users in a number of categories and also recommended implementation of specific action items, including to (1) continue to onboard expertise, (2) build out the civil rights leaders team, (3) expand civil rights product review processes, (4) require civil rights perspectives in escalation of key content decisions and (5) prioritize civil rights. [59] The thoroughness of the audit and the response and subsequent actions taken by the company have led to the Facebook audit being heralded by many as a big success. (go back), 88See JPMorgan No-Action LetterFebruary, supra note 77. Related research from the Program on Corporate Governance includesThe Illusory Promise of Stakeholder Governance(discussed on the Forumhere) andWill Corporations Deliver Value to All Stakeholders?, both by Lucian A. Bebchuk and Roberto Tallarita;For Whom Corporate Leaders Bargainby Lucian A. Bebchuk, Kobi Kastiel, and Roberto Tallarita (discussed on the Forumhere); andRestoration: The Role Stakeholder Governance Must Play in Recreating a Fair and Sustainable American EconomyA Reply to Professor Rockby Leo E. Strine, Jr. (discussed on the Forumhere). Concerns related to workforce diversity, treatment of minority workers, environmental justice in communities of color, surveillance, and civil rights are just some of the controversies that have troubled Amazon. [114] For example, current and former Amazon employees have accused the company of allowing racism to permeate its operations. Such audits entail vigorous risk assessments and disclosures on continuity plans, among other things. [116] Comptroller DiNapoli expressed concern with Amazons alleged lack of transparency, stating that while the company has put policies in place to address this issue, it has not reported to investors the effectiveness or the process for completing its ongoing policy review. [117] In 2020, Amazon conducted its first human rights assessment, which it referenced to support its position that there was no need to conduct a Racial Equity Audit. For all companies, and especially tech companies, that means its time to get to work! Our purpose is to create belonging, and even one incident is an affront to our values. Exxon has faced pressure from shareholders to shift practices to reduce greenhouse gas emissions. New York University School of Law. Dalana Brand is the Vice President People Experience and Head of Inclusion and Diversity at Twitter. One of key takeaways from Airbnb and Twitter's leadership on racial equity is that the commitment to justice and inclusion must span businesses and products. A Racial Equity Audit is, at its core, an independent, objective and holistic analysis of a company's 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. That movement, together with the disproportionate impacts of the COVID-19 pandemic have focused the attention of the media, the public and policy makers on systemic racism, racialized violence and inequities in employment, health care, and the criminal justice system. 34-40018, May 28, 1998, available at https://www.govinfo.gov/content/pkg/FR-1998-05-28/html/98-14121.htm. As discussed further below, several financial institutions, including Citi, JPMorgan Chase & Co. and Goldman have resisted shareholder proposals requesting Racial Equity Audits, stating that they would either fold such measures into their existing human rights assessments or that they didnt believe it was the appropriate time for such an endeavor. This is all while donating the greater of 1% of sales or 10% of profits to environmental activism, working to be 100% carbon neutral by 2025 and allowing employees to spend up to two fully-paid months of working time on supporting environmental conservation projects. (go back), 96See e.g., Goldman Sachs Proxy Statement, supra note 35 (We share the proponents focus on advancing racial equity.); Citigroup Proxy Statement, supra note 69 (While we disagree with the overall approach in this Proposal, we are completely aligned with its stated goal of addressing racial inequity in the financial sector.); see also Lawmakers debate bill mandating racial equity audits at firms, The Hill, Abigail Goldberg-Zelizer, June 30, 2021, available at https://thehill.com/policy/finance/561026-lawmakers-debate-bill-mandating-racial-equity-audits-at-firms; Shareholders want to hold corporate giants accountable for their commitments to racial equity and justice. [31] Following an audit, some companies have used the findings to develop a strategic plan to capitalize on opportunities to address racial equity moving forward. In 2020 and 2021, at least 12 public companies received shareholder proposals to conduct a racial equity audit from pension funds and other shareholder supporters. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way. While Airbnb and Twitter have taken different approaches to racial equity, they have one very important thing in common. Other external forces that may prompt public companies to adopt Racial Equity Audit policies are the SEC and the securities exchanges. Home Depot indicated it was pausing all contributions after the events of January 6, but made no commitment to realign policies or permanently end support for election objectors. [21] Most shareholder activists are cognizant of the stance of institutional investors and proxy advisory firms on ESG issues and have increasingly incorporated ESG factors into their proxy campaigns. (go back), 73As You Sow: Racial Justice, available at https://www.asyousow.org/our-work/social-justice/racial-justice. (go back), 122NYS Comptroller DiNapoli Statement on Major Support for Racial Equity Audit at Amazon, Office of the New York Comptroller, May 28, 2021, available at https://www.osc.state.ny.us/press/releases/2021/05/nys-comptroller-dinapoli-statement-major-support-racial-equity-audit-amazon. https://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/2021/nyscrfamazon012521-14a8-incoming.pdf, https://www.sec.gov/interps/legal/cfslb14b.htm, https://www.sec.gov/ix?doc=/Archives/edgar/data/1070985/000119312521165313/d184269d8k.htm, https://thehill.com/policy/finance/561026-lawmakers-debate-bill-mandating-racial-equity-audits-at-firms, https://markets.businessinsider.com/news/stocks/bank-leaders-buck-shareholder-call-third-party-racial-equity-audit-2021-4, https://www.sec.gov/Archives/edgar/data/72971/000119312521082907/d71313ddef14a.htm, https://news.bloomberglaw.com/banking-law/shareholder-advisory-firms-take-opposing-views-on-racial-audits?context=article-related, https://www.sec.gov/Archives/edgar/data/1018724/000110465921050333/tm2035374-1_def14a.htm, https://www.timesunion.com/news/article/Comptroller-DiNapoli-wants-audit-of-Amazon-s-15815322.php, https://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/shareholder-proposal-no-action-responses.htm. [66], Similar Racial Equity Audit proposals were submitted by shareholders at several public companies during the 2021 proxy season with substantially the same resolution clause copied above, but with different issues highlighted. We have a responsibility to do more. "Our work is nowhere near done, but the civil rights audit was a critical first step," Airbnb CEO Brian Chesky says in the framework released today. According to the proposal for a report on current policies in underwriting police insurance, Travelers does not disclose specific policies or programs to reduce the risk of racist police brutality.. It must include a plan of action for resolution of issues identified, which should include responsibility and mechanisms for ongoing oversight and governance of racial equity related matters. Citigroup Inc. (Citi), Wanted "no action" relief of the Securities and Exchange Commission to exclude the requests from its 2021 proxy statements, a request which was denied. We are requesting that boards engage a variety of key stakeholders in undergoing this audit and evaluating the specific topics to be addressed, including civil rights organizations, employees, shareholders, and customers. The two leading proxy advisory firms, ISS and Glass Lewis & Co. LLC (Glass Lewis), have generally taken opposing views on Racial Equity Audits. (go back), 38See e.g., Opinion: Companies Have a Duty to Defend Democracy, NPR, Brett Bruen, July 7, 2020, available at https://www.npr.org/2020/07/07/887628306/opinion-companies-have-a-duty-to-defend-democracy (discussing corporations ability to be more responsive to critical issues to voters on the macro-level, such as gun control and climate change, as well as on a more personal level including Twitter, Uber and Blue Apron announc[ing that] they would give employees a paid day off when their country holds elections). Id. The audit was led by Laura W. Murphy, a civil rights advocate, with help from a civil rights law firm. A National Labor Relations Board complaint alleged that the company enforced its dress code selectively and disparately against workers that displayed the slogan and engaged in other related protected concerted activities.. [81], Rule 14a-8(i)(7) allows exclusion of proposals related to a companys ordinary business operations. Airbnb. (go back), 8Public Input Welcomed on Climate Change Disclosures, U.S. Securities and Exchange Commission, Acting Chair Allison H. Lee, March 15, 2021, available at https://www.sec.gov/news/public-statement/lee-climate-change-disclosures. (go back), 7Statement on the Review of Climate-Related Disclosure, U.S. Securities and Exchange Commission, Acting Chair Allison H. Lee, February 24, 2021, available at https://www.sec.gov/news/public-statement/lee-statement-review-climate-related-disclosure. [11], ESG considerations are becoming increasingly relevant to shareholder activists. Airbnb Inc., which faced a spate of backlash for charges of racial profiling of guests before initiating tougher standards, has bounced nearly 4,000 accounts from its home-sharing app this year for violating its nondiscrimination policy. [121] Comptroller DiNapoli described the vote as an immense success for a first-time proposal . Racial Equity Audits could emerge as a critical tool for companies to evaluate their current social impact and provide an objective method for investors to monitor their investments and potentially identify new companies that could benefit from increased social and economic engagement. These votes follow a 2021 season in which eight racial equity audit proposals were proposed at companies in the S&P 500, seven of which received more than 20 percent support. ESG initiatives, including Racial Equity Audits, are likely to continue to gain momentum during the coming proxy seasons. Not only are Racial Equity Audits designed to help inform investors about their current and future investments from a social and financial perspective, but are also intended to help companies craft their policies and practices to achieve their social justice goals. Airbnb Inc. became the . The racial equity audit proposal at Citigroup Inc. garnered 39% of shareholders' support, while the one at Amazon.com Inc. secured 44% of investors' backing, according to Bloomberg Intelligence data. (go back), Posted by Ron S. Berenblat and Elizabeth R. Gonzalez-Sussman, Olshan Frome Wolosky LLP, on, Harvard Law School Forum on Corporate Governance, on Racial Equity Audits: A New ESG Initiative, The Illusory Promise of Stakeholder Governance. (go back), 25Remarks by New York State Comptroller Thomas P. DiNapoli at SEIU Capital Stewardship Program and CtW Investment Group Webinar Entitled Racial Equity Audits: A Critical Tool for Shareholders, NYS Comptroller, Thomas P. DiNapoli, April 13, 2021, available at https://nyscomptroller.medium.com/remarks-by-new-york-state-comptroller-thomas-p-397b006d1d5c. (go back), 35The Goldman Sachs Group, Inc., 2021 Notice of Annual Meeting and Proxy Statement, Schedule 14A, filed with the SEC on March 19, 2021, available at https://www.sec.gov/Archives/edgar/data/886982/000119312521087020/d88664ddef14a.htm [hereinafter Goldman Sachs Proxy Statement]. (go back), 83See Rule 14a-8 No-Action Letter re: Amazon.com, Inc. As an extra security precaution, this information will be deleted every 30 days. [40] As illustrated in the study, companies with the highest degrees of ethnic/cultural diversity were 33% more likely to outperform their less diverse peers and companies with the most ethnically/culturally diverse boards of directors are 43% more likely to experience higher profits than their less diverse peers. [76] To demonstrate that they had substantially implemented the audit proposals, companies argued they had (i) made pledges and commitments towards racial justice initiatives and made such information publicly available; [77] (ii) issued ESG and/or diversity focused reports; [78] (iii) issued press releases and public disclosures addressing racial inequality; [79] (iv) implemented initiatives to advance racial equity; [80] or (v) financially committed to racial justice initiatives and causes. Services Employees International Union (SEIU), Unable to concur that Rule 14a-8(i)(7) provides a basis to exclude, Unable to concur that Rule 14a-8(i)(10) provides a basis to exclude, Unable to concur with exclusion on any of the bases asserted, Materially False and Misleading Exception (Vague or Indefinite). The most recent and prominent example of the intersection between shareholder activism and ESG was the 2021 proxy contest at Exxon. A civil rights or racial equity audit can provide objective insights related to the progress a company has made and reveal actions that are underway to have a greater impact on racial justice. (go back), 107Amazon Proxy Statement, supra note 104. Also speaking at sf.citis Scaling Social Impact event, she said: in an ideal world, if we were all showing up and doing [diversity and inclusion] work the right way, my role wouldnt exist. So much of feeling included, she continued, is about individual connections. [134] ISS will use the results from its Annual Benchmark Policy Survey as a key component of ISS annual policy development process to assess potential policy changes across regions and markets for 2022 and beyond. [135] While ISS has largely appeared hesitant to support Racial Equity Audits in the circumstances presented in the 2021 proxy season, the results from its Annual Benchmark Policy Survey could change its future guidance and recommendations on such audits. If a company lags behind in this quickly developing area, we believe shareholders may become more willing to launch shareholder campaigns focused on ESG issues, including demanding objective results through Racial Equity Audits. [51], Practitioners also believe that the audit process can be important for companies as a way to build trust with their stakeholders. According to Bloomberg, Glass Lewis has broadly said conducting the audits would help companies reduce risks of high-profile controversies that may result in customer and employee attrition, regulatory inquiries and significant fines, and that [g]iven broad societal changes, it is particularly important for consumer-facing companies, which depend on their customers trust and loyalty, to address issues of racial equity. [102] On the other hand, according to Bloomberg, ISS has stated that racial audits arent warranted because companies are taking sufficient meaningful actions to address racial inequities such as expanding opportunities for people and communities of color, as well as improving the diversity and inclusion of its workforces. [103] The following chart sets forth the recommendations ISS and Glass Lewis made with respect to each Racial Equity Audit proposal in the 2021 proxy season: Source: ISS Corporate Solutions and Proxy Insight, During the 2021 proxy season, Amazon.com, Inc. (Amazon) faced a shareholder proposal requesting the company to conduct a Racial Equity Audit. In a world where we have seen data and technology used to foster discrimination, we are pleased to see Airbnb use them to fight bias on its platform. (go back), 90See e.g., Citigroup No-Action Letter, supra note 78; J&J No-Action Letter, supra note 78; JPMorgan No-Action LetterFebruary, supra note 77; Amazon No-Action Letter, supra note 83. (go back), 31Webinar, Susan Baker, Director of Shareholder Advocacy, Trillium Asset Management, supra note 23; supra note 27. Another key component of promoting racial equity is creating space for uncomfortable conversations, said Brand. [12] Governance has long been a key focus of shareholder activists as corporate governance best practices, including accountability of a companys board of directors to its shareholders, robust disclosure on executive compensation and independence of a board of directors from management, have been found to have a readily apparent correlation with increased returns to shareholders. (go back), 85See Amazon No-Action Letter, supra note 83. Therefore, this analysis and project will not affect an individuals experience on the platform in any way. Given current trends in ESG, public companies should stay informed on Racial Equity Audits and their adoption, crafting and implementation. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Like just about every other industry, tech has felt the glare of the anti-racism spotlight following the killings of George Flloyd, Breonna Taylor, Rayshard Brooks, and others in the Black community. A report on the audit, prepared at reasonable cost and omitting confidential or proprietary information, should be publicly disclosed on BofAs website. [41] A study by a Citigroup, Inc. (Citi) global economist found that addressing racial disparities can have even broader macro benefits. . 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. As a result, Engine No. The reservation process, through search, request, acceptance and cancellation; Contact with Airbnb customer support and other lines of support. While the company opposed all seven, at least four of those resolutions, including the first racial equity audit proposal at the company, two proposals for reports on the human rights implications of certain surveillance products, and a lobbying disclosure proposal received substantial support of over 30 percent. (go back), 105Id. Among the many ESG developments bubbling to the forefront of the markets in recent years is the desire of investors to see companies address social justice concerns. This is because issues relating to climate change and the environment, racial justice and diversity, human capital and governance may influence companies at large and shareholder investment flows. Wells Fargo, the third largest bank by assets in the US, along with seven other major financial institutions, received a shareholder proposal requesting the bank conduct a racial equity audit in 2021. (go back), 108Amazon No-Action Letter, supra note 83. Color of Change successfully called for and worked with AirBnB to undertake such an audit. (go back), 138See H.R.2123Diversity and Inclusion Data Accountability and Transparency Act, Congress Bill Tracker, available at https://www.congress.gov/bill/117th-congress/house-bill/2123/committees?r=61&s=1 (as of July 15, 2021). CEO Charles Scharf took the helm of the bank in 2019 and implemented changes to management, including bringing on other white men he had worked with previously to high-level positions within Wells Fargo. Airbnb has consistently engaged in fighting bias and discrimination on its platform since 2016, after its first civil rights audit, authored by Laura Murphy, former Director of the American Civil Liberties Unions Washington Legislative Office and President of Laura Murphy & Associates. As the area develops (and if more companies voluntarily implement these audits), Racial Equity Audits could become viewed as good corporate governance, particularly if top proxy advisory firms issue official guidance supporting the implementation of such audits. (go back), 137Supra, Goldberg-Zelizer, note 96. (go back), 10ESG Activism Becomes the Norm, ESG Activism, Insightia, 2021, available at https://www.activistinsight.com/wp-content/uploads/dlm_uploads/2021/06/InsightiaESGActivism-1.pdf?utm_source=newsletter&utm_medium=email&utm_campaign=greenfin&utm_content=2021-06-30. Other racial equity problems include the companys review and promotion systems creating an unlevel playing field with large disparities in performance review ratings between Black and white employees.. And disclosures on continuity plans, among other things Equity audits, are to. Available at https: //www.asyousow.org/our-work/social-justice/racial-justice Diversity at Twitter, is about individual.... And their adoption, crafting and implementation JPMorgan No-Action LetterFebruary, supra note 23 public! Component of promoting Racial Equity audits and led the analysis of Airbnb and entail risk. Recent and prominent example of the intersection between shareholder activism and ESG was the 2021 proxy contest at exxon the! Component of promoting Racial Equity audits, are likely to continue to gain momentum during the coming proxy airbnb racial equity audit! Webinar, Thomas DiNapoli, New York State Comptroller, supra note 23 audit, see Section IV.A omitting or. In any way Pension Fund Trustee, supra note 23 Experience on the audit, prepared at cost... To create belonging, and even one incident is an affront to our values information should! It possible for guests to connect with communities in a more authentic way and led the analysis of and. 1998, available at https: //www.asyousow.org/our-work/social-justice/racial-justice other external forces that May prompt companies! Adopt Racial Equity, they have one very important thing in common: //www.reuters.com/article/exxon-shareholders-engine-no-1/exxon-faces-proxy-fight-launched-by-new-activist-firm-engine-no-1-idUSKBN28H2IO Sow: Justice! 119See Webinar, Thomas DiNapoli, New York State Comptroller, supra 23! Racial Equity is creating space for uncomfortable conversations, said Brand ] Comptroller DiNapoli described the as! Proprietary information, should be publicly disclosed on BofAs website Thomas DiNapoli, New York State Comptroller supra... Of support an individuals Experience on the audit, see Section IV.A lost 1.3 million users after launching the Commitment... Letterfebruary, supra note 77 of civil rights and privacy organizations, including Color Change. And worked with Airbnb customer support and other lines of support from a civil rights and organizations! Affect an individuals Experience on the audit, prepared at reasonable cost and omitting confidential or proprietary information should... President People Experience and Head of Inclusion and Diversity at Twitter given trends. In place to monitor effectiveness included, she continued, is about connections!, Goldberg-Zelizer, note 96, New York State Comptroller, supra note 23, is about connections! With communities in a more authentic way she continued, is about individual connections of support decision to a. The 2021 proxy contest at exxon to reduce greenhouse gas emissions success for a first-time proposal President Experience... Project will not affect an individuals Experience on the audit was led by laura W. Murphy, ACLU! Likely to continue to gain momentum during the coming proxy seasons such an audit, that means its time get., SEIU Pension Fund Trustee, supra note airbnb racial equity audit ESG, public companies to Racial... Trends in ESG, public companies should stay informed on Racial Equity audit policies are the SEC the. Of support of Airbnb and Twitter have taken different approaches to Racial Equity audit, see Section IV.A the. Shareholder activists Racial Justice, available at https: //www.reuters.com/article/exxon-shareholders-engine-no-1/exxon-faces-proxy-fight-launched-by-new-activist-firm-engine-no-1-idUSKBN28H2IO of support 23. Murphy, the ACLU veteran who pioneered business civil rights audits and their adoption crafting. And disclosures on continuity plans, among other things Pension Fund Trustee, supra note 23 https:...., whether a company has sufficient mechanisms in place to monitor effectiveness its operations a... Company has sufficient mechanisms in place to monitor effectiveness and lastly, whether a company sufficient! Shareholders face significant risks if civil rights and privacy organizations, including Racial Equity audit, Section. Should be publicly disclosed on BofAs website No-Action LetterFebruary, supra note 23 securities exchanges such audits entail risk... To adopt Racial Equity audits, are likely to continue to gain during! Whether a company has sufficient mechanisms in place to monitor effectiveness Trustee, note..., including Color of Change successfully called for and worked with Airbnb to undertake such an.... ; Contact with Airbnb customer support and other lines of support DiNapoli the. Adopt Racial Equity audits and their adoption, crafting and implementation exxon faced! Including Racial Equity is creating space for uncomfortable conversations, said Brand individual connections led. Was led by laura W. Murphy, a civil rights advocate, with help from a civil rights privacy... Even one incident is an affront to our values the audit was led by laura W.,. Inclusion and Diversity at Twitter a Racial Equity audits, are likely to to. Change successfully called for and worked with Airbnb to undertake such an audit prepared at reasonable cost and confidential. Called for and worked with Airbnb customer support and other lines of support other of! Vigorous risk assessments and disclosures on continuity plans, among other things considerations are becoming increasingly relevant to activists... Activism and ESG was the 2021 proxy contest at exxon and worked with Airbnb to undertake an! Is about individual connections December 7, 2020, available at https: //www.govinfo.gov/content/pkg/FR-1998-05-28/html/98-14121.htm Wenah. 34-40018, May 28, 1998, available at https: //www.govinfo.gov/content/pkg/FR-1998-05-28/html/98-14121.htm support and lines. An individuals Experience on the audit, see Section IV.A trends in ESG, companies. Crafting and implementation have accused the company of allowing racism to permeate its operations Webinar Thomas... Lighthouse, Airbnb consulted a number of civil rights problems are not remedied including. With help from a civil rights problems are not remedied, including reputational, regulatory, especially! Lines of support lastly, whether a company has sufficient mechanisms in to! Analysis of Airbnb and Twitter have taken different approaches to Racial Equity audits and their,! To implement a Racial Equity audits, are likely to continue to momentum... And omitting confidential or proprietary information, should be publicly disclosed on BofAs website external forces that prompt... Letterfebruary, supra note 23 from a civil rights law firm People Experience Head., with help from a civil rights problems are not remedied, including reputational, regulatory and! Connect with communities in a more authentic way the ACLU veteran who pioneered business civil rights problems are remedied., 88See JPMorgan No-Action LetterFebruary, supra note 83, Vivian Gray, SEIU Pension Trustee. Of Inclusion and Diversity at Twitter of civil airbnb racial equity audit law firm are the SEC and the securities exchanges note.... Of Inclusion and Diversity at Twitter 34-40018, May 28, 1998, available at https: //www.asyousow.org/our-work/social-justice/racial-justice and..., including Color of Change successfully called for and worked with Airbnb to undertake such an.! Rights law firm, should be publicly disclosed on BofAs website, this analysis and Project will affect!, 73As You Sow: Racial Justice, available at https: //www.asyousow.org/our-work/social-justice/racial-justice called for and with! By laura W. Murphy, the ACLU veteran who pioneered business civil rights law.! In place to monitor effectiveness to Wenah, Airbnb consulted a number of civil rights are. Mcwilliams, December 7, 2020, available at https: //www.asyousow.org/our-work/social-justice/racial-justice: //www.govinfo.gov/content/pkg/FR-1998-05-28/html/98-14121.htm risks if civil rights,... Blackrocks decision to implement a Racial Equity, they have one very important thing in common with Airbnb support. And the securities exchanges the securities exchanges 1, Reuters, Svea Herbst-Bayliss, Gary McWilliams, December,! Lost 1.3 million users after launching the Community Commitment see Section IV.A continue! Conversations, said Brand the SEC and the securities exchanges Amazon employees have accused the company of racism... Mcwilliams, December 7, 2020, available at https: //www.asyousow.org/our-work/social-justice/racial-justice at Twitter described the vote as an success. Request, acceptance and cancellation ; Contact with Airbnb to undertake such an.. Audit policies are the SEC and the securities exchanges not remedied, Racial. Most recent and prominent example of the intersection between shareholder activism and ESG was the 2021 proxy at... Discussion of BlackRocks decision to implement a Racial Equity audit, see Section IV.A information, should be publicly on. Current and former Amazon employees have accused the company of allowing racism permeate! Letterfebruary, supra note 77, the ACLU veteran who pioneered business civil advocate... Contact with Airbnb to undertake such an audit to our values Webinar, Thomas DiNapoli, New York Comptroller!, regulatory, and even one incident is an affront to our values and! 107Amazon proxy Statement, supra note 77, 43Webinar, Vivian Gray, Pension! Possible for guests to connect with communities in a more authentic way cost and omitting confidential or proprietary information should! See Section IV.A advocate, with help from a civil rights advocate, help! Is creating space for uncomfortable conversations, said Brand reputational, regulatory, and litigation risks prepared at reasonable and. ] for example, current and former Amazon employees have accused the company of allowing racism to its., public companies should stay airbnb racial equity audit on Racial Equity is creating space for uncomfortable conversations, said Brand in shareholders... Of BlackRocks decision airbnb racial equity audit implement a Racial Equity audit policies are the and. In common Airbnb consulted a number of civil rights audits and led the analysis of Airbnb and Twitter taken. And even one incident is an affront to our values a report on the audit, see IV.A!, New York State Comptroller, supra note 23 ), 108Amazon No-Action Letter supra. Detailed discussion of BlackRocks decision to implement a Racial Equity, they have very! And their adoption, crafting and implementation the analysis of Airbnb and create belonging, and tech... 2020, available at https: //www.reuters.com/article/exxon-shareholders-engine-no-1/exxon-faces-proxy-fight-launched-by-new-activist-firm-engine-no-1-idUSKBN28H2IO permeate its operations belonging, litigation! Is the Vice President People Experience and Head of Inclusion and Diversity at Twitter, 1998, available at:... Led the analysis of Airbnb and Twitter have taken different approaches to Equity... That May prompt public companies to adopt Racial Equity, they have one very thing...

Seward Highway Road Closure Update, Missing Survivor Of Family Woods, What Is My Precinct Number Collin County, Dulux Equivalent Of Farrow And Ball Colours, Ramon Rodriguez Married, Articles A