Senators Chris Van Hollen and Bob Menendez Reintroduce Bill Promoting Corporate Diversity

Total Page:16

File Type:pdf, Size:1020Kb

Senators Chris Van Hollen and Bob Menendez Reintroduce Bill Promoting Corporate Diversity Senators Chris Van Hollen And Bob Menendez Reintroduce Bill Promoting Corporate Diversity Posted by Zach Hill On 02/26/2021 WASHINGTON – U.S. Senator Chris Van Hollen (D-Md.) joined Senator Bob Menendez (D-N.J.) in reintroducing legislation that would require public companies to disclose information related to the racial, gender, ethnic makeup, and veteran status of corporate boards and senior management. The Improving Corporate Governance Through Diversity Act of 2021 addresses shortcomings in the U.S. Securities and Exchange Commission’s (SEC) diversity disclosure rule. Congressman Gregory Meeks (N.Y.-05) is introducing companion legislation in the House. “Our corporate boardrooms must reflect our nation’s diversity. To fully achieve inclusivity as a nation, we need transparency on the racial, ethnic, and gender make-up of boards and senior management for public companies,” said Senator Van Hollen. “This legislation marks an important step forward to increase the diversity of corporate leadership and decision-makers so that we can take advantage of America’s full economic potential.” “For too long corporate America has fallen short in racial, ethnic and gender diversity. Without greater diversity in top corporate positions, the U.S. will fail to compete with other leading economies and stall our nation’s progress towards full inclusivity,” said Senator Menendez. “This bill will ensure transparency in corporate America, while highlighting the need for further accountability for public companies. It’s time corporate boardrooms mirror the rich diversity of our country.” “Last Congress, the House passed the Improving Corporate Governance Through Diversity Act. Now, I urge my colleagues in the Senate to review and pass the companion bill Senator Menendez is reintroducing today,” said Representative Meeks. “Diversity is proven to have a positive impact on business performance and we want to ensure an equitable and fair future for everyone. Disclosing the gender, racial, ethnic and veteran makeup of these corporate boardrooms will not only shed light on the value of diversity, but hopefully encourage corporate shareholders to increase diversity in the highest ranks of their corporations.” In addition to requiring public companies to report demographic information, the bill would also require the Director of the Office of Minority and Women Inclusion to publish a best practices and compliance report to the SEC every three years. The bill would also establish a Diversity Advisory Group, which would study the status of corporate diversity and submit annual reports to Congress. Sens. Sherrod Brown (D-Ohio), Elizabeth Warren (D-Mass.), Cory Booker (D-N.J.), Dianne Feinstein (D-Calif.), Alex Padilla (D-Calif.), Kirsten Gillibrand (D-N.Y.), Catherine Cortez Masto (D-Nev.) and Raphael Warnock (D-Ga.) are cosponsoring the bill. “Corporate America has done little to increase diversity in their board rooms and among their management,” said Senator Brown. “Companies must take diversity seriously and set the tone from the top. This bill will provide more transparency and lead to greater diversity to help create a more inclusive economy.” “At every level of every organization and in every sector, we must do more to ensure that leadership is reflective of the rich diversity of our country,” said Senator Booker. “This bill will create much needed transparency and accountability measures that will empower consumers and the public with information about who is making decisions at public companies and the extent to which those boardrooms and C-suites are representative of the diversity of the American people.” “California’s culture of inclusivity and diversity has helped foster some of the most innovative companies in the world,” said Senator Padilla. “Unfortunately, far too many talented, qualified Americans have been shut out from reaching corporate leadership in our largest companies. We need an honest and transparent look at the racial, ethnic, and gender diversity of public corporations to help build a more inclusive economy. Greater corporate diversity will unlock opportunity for our most underrepresented communities—making our whole economy stronger.” “To this day, corporate America has failed to reflect our country’s growing diversity in its board rooms and executive suites,” said Senator Cortez Masto. “I’ve long fought to ensure that underrepresented groups have a seat at the table, because when we embrace our country’s diversity, our economy and businesses are better off for it. I’ll continue working in Congress to increase transparency and promote diversity across all sectors.” A 2017 Corporate Diversity Survey found that although most Fortune 100 companies believe in the idea of increasing diversity among their senior leadership, few are making tangible progress on the matter. The survey found that despite diversity and inclusion having made their way into the everyday lexicon of America’s top performing companies, many companies “talk the talk,” without “walking the walk.” The vast majority of companies do not set tangible targets to deliver on their self-professed commitment to diversity, with only 37.7% of the surveyed companies including numeric targets for diversity at the executive team levels and only 11.5% of companies setting specific targets for diverse recruitment among their Board of Directors. The National Urban League, Nareit, Financial Services Forum, American Bankers Association, International Council of Shopping Centers, Bank Policy Institute, American Council of Life Insurers, NAIOP the Commercial Real Estate Development Association and Real Estate Roundtable also support the legislation. Copyright © 2021 thebaynet.com. All rights reserved. Page 1.
Recommended publications
  • March 2, 2021 the Honorable Michael Khouri Chairman Federal Maritime
    March 2, 2021 The Honorable Michael Khouri Chairman Federal Maritime Commission 800 North Capitol Street, N.W. Washington, D.C. 20573 Dear Chairman Khouri, We write to express concern with the reported practices of certain vessel-operating common carriers (VOCCs) related to the denial of carriage for agricultural commodities. If the reports are true, such practices would be unreasonable and would hurt millions of producers across the nation by preventing them from competing in overseas markets. We support the Federal Maritime Commission’s current efforts to investigate these reports, and call on the Commission to quickly resolve this critical issue. As you know, ports across the United States are experiencing unprecedented congestion and record container volumes, which alone pose significant challenges for agricultural exporters seeking to deliver their products affordably and dependably to foreign markets. In the midst of this challenge, reports that certain VOCCs are returning to their origin with empty containers rather than accepting U.S. agriculture and forestry exports not only greatly exacerbates the problem, but potentially violates the Shipping Act as an unjust and unreasonable practice.1 We understand that the Commission in March 2020 initiated Fact Finding No. 29 – led by Commissioner Rebecca Dye – which was expanded in November 2020 to investigate reports of potentially unjust and unreasonable practices by certain VOCCs discussed above. We support this investigative effort, and – in the event that unjust or unreasonable practices by certain VOCCs are discovered – urge the Commission to take appropriate enforcement actions under the Shipping Act to put an end to such practices. The need is urgent, especially with record container volumes at the nation’s major ports.
    [Show full text]
  • Presidential Results on November 7, 2020, Several Media Organizations
    Presidential Results On November 7, 2020, several media organizations declared that Joseph Biden and Kamala Harris won the election for the President and Vice President of the United States. Biden and Harris will take office on January 20, 2021. Currently, President-elect Biden is leading in the electoral college and popular vote. Votes are still being counted so final electoral college and popular vote counts are not available. NASTAD will provide transition documents to the incoming Administration, highlighting agency-specific recommendations that pertain to health department HIV and hepatitis programs. Additionally, the Federal AIDS Policy Partnership (FAPP) and the Hepatitis Appropriations Partnership (HAP), two coalitions that NASTAD leads, will also submit transition documents stressing actions the next Administration can take relating to the HIV and hepatitis epidemics, respectively. House and Senate Results Several House races are still undecided, but Democrats have kept control of the chamber. Republicans picked up several House districts but did not net the 17 seats they needed to gain the majority. Control of the Senate is still unknown with two uncalled seats (Alaska and North Carolina) and two runoffs in Georgia. The runoff races in Georgia will take place on January 5, 2021, so the Senate make up will not be final until then. While it remains likely that Republicans will remain in control of the Senate, if Democrats win both run off races, they will gain control of the Senate with Vice- President-elect Harris serving as tiebreaker. Pre- Post- Party election election Democrats 45 46 Senate*** Republicans 53 50 Independent 2* 2** Democrats 232 219 House**** Republicans 197 203 Independent 0 0 * Angus King (ME) and Bernie Sanders (VT) caucused with the Democrats.
    [Show full text]
  • Untitled Spreadsheet
    Advertising Information Member State Ad 1 Ad 2 Ad 3 Ad 4 Ad 5 Ad 6 https://www.youtube.com/watch? https://www.youtube.com/watch? v=9WcNndBISw4&ab_channel=EndCitizen v=2moiC05yntw&ab_channel=EndCitizens S.1 Bob Casey Pennsylvania sUnited United https://www.youtube.com/watch? https://www.youtube.com/watch? v=jpR1QsUjtuw&ab_channel=EndCitizens v=_fuqLjm- Digital Raphael Warnock Georgia United _KA&ab_channel=EndCitizensUnited https://www.youtube.com/watch? https://www.youtube.com/watch? v=JIbTcvCj5u4&ab_channel=EndCitizensU v=1bdD47oTM9E&ab_channel=EndCitizen Running March 18-April 30 Jon Ossoff Georgia nited sUnited https://www.youtube.com/watch? https://www.youtube.com/watch? v=mn2md4LGTAs&ab_channel=EndCitizen v=zcYK4bW2- $1.2 million Angus King Maine sUnited v4&ab_channel=EndCitizensUnited https://www.youtube.com/watch? https://www.youtube.com/watch? v=XW5TtsTGcCg&ab_channel=EndCitizens v=Gwac2mhKA0g&ab_channel=EndCitizen Mark Kelly Arizona United sUnited https://www.youtube.com/watch? https://www.youtube.com/watch? v=R_O8ObieJmY&ab_channel=EndCitizens v=BrlzXDUzVYQ&ab_channel=EndCitizens Kyrsten Sinema Arizona United United https://www.youtube.com/watch?v=- https://www.youtube.com/watch? https://www.youtube.com/watch? https://www.youtube.com/watch? 5LU352MEz8&ab_channel=EndCitizensU v=srOQEyaBTnI&ab_channel=EndCitizens v=02Szc2pZ7Ng&feature=youtu. v=3LBV4PdGZj8&ab_channel=EndCitizensUni Susan Collins Maine nited United be&ab_channel=EndCitizensUnited ted https://www.youtube.com/watch?v=- https://www.youtube.com/watch? https://www.youtube.com/watch? https://www.youtube.com/watch? 5LU352MEz8&ab_channel=EndCitizensU v=srOQEyaBTnI&ab_channel=EndCitizens v=02Szc2pZ7Ng&feature=youtu. v=3LBV4PdGZj8&ab_channel=EndCitizensUni Pat Toomey Pennsylvania nited United be&ab_channel=EndCitizensUnited ted https://www.youtube.com/watch?v=- https://www.youtube.com/watch? https://www.youtube.com/watch? https://www.youtube.com/watch? 5LU352MEz8&ab_channel=EndCitizensU v=srOQEyaBTnI&ab_channel=EndCitizens v=02Szc2pZ7Ng&feature=youtu.
    [Show full text]
  • Talking About Climate Change in the Georgia U.S. Senate Races
    Talking About Climate In The Georgia U.S. Senate Races Why Georgia Voters Need To Hear About Climate Download this research in MS Word format here: https://drive.google.com/open?id=17hKqDq_dnSwv2o9Shxhj2XaRBykq5sMZ CONTENTS TL/DR: ................................................................. ERROR! BOOKMARK NOT DEFINED. CONTENTS .................................................................................................................... 1 WHY CLIMATE ACTION IS A WINNING ISSUE IN GEORGIA ..................................... 2 CANDIDATE BACKGROUNDS ...................................................................................... 3 CLIMATE CHANGE TOUCHES EVERY ISSUE IN 2020 ................................................. 5 CONFRONTING THE CRISIS ........................................................................................ 9 GLOBAL LEADERSHIP ................................................................................................ 13 CLEAN ENERGY JOBS ................................................................................................. 16 COST OF DOING NOTHING ......................................................................................... 19 Climate Power 2020 Talking About Climate In The Georgia U.S. Senate Races 1 WHY CLIMATE ACTION IS A WINNING ISSUE IN GEORGIA The politics of climate have changed and embracing bold climate action is a winning message. Climate change is a defining issue for key voting blocs – younger voters, voters of color, and suburban women strongly believe
    [Show full text]
  • GUIDE to the 117Th CONGRESS
    GUIDE TO THE 117th CONGRESS Table of Contents Health Professionals Serving in the 117th Congress ................................................................ 2 Congressional Schedule ......................................................................................................... 3 Office of Personnel Management (OPM) 2021 Federal Holidays ............................................. 4 Senate Balance of Power ....................................................................................................... 5 Senate Leadership ................................................................................................................. 6 Senate Committee Leadership ............................................................................................... 7 Senate Health-Related Committee Rosters ............................................................................. 8 House Balance of Power ...................................................................................................... 11 House Committee Leadership .............................................................................................. 12 House Leadership ................................................................................................................ 13 House Health-Related Committee Rosters ............................................................................ 14 Caucus Leadership and Membership .................................................................................... 18 New Members of the 117th
    [Show full text]
  • 1 May 5, 2021 the Honorable Jack Reed the Honorable Jon Tester
    WASHINGTON, DC 20510 May 5, 2021 The Honorable Jack Reed The Honorable Jon Tester Chairman Chairman Senate Armed Services Committee Senate Defense Appropriations Subcommittee 228 Russell Senate Office Building S-128, The Capitol Washington, DC 20510 Washington, DC 20510 The Honorable James Inhofe The Honorable Richard Shelby Ranking Member Ranking Member Senate Armed Services Committee Senate Defense Appropriations Subcommittee 228 Russell Senate Office Building S-128, The Capitol Washington, DC 20510 Washington, DC 20510 Dear Chairmen and Ranking Members: As you consider the Fiscal Year (FY) 2022 defense authorization and appropriations bills, we strongly urge your continued support for the F-35 Lightning II program. We would urge the committee to support investments in relevance (modernization), readiness (sustainment) and rate (any service unfunded requirement). Today, the United States Navy, Marine Corps, and Air Force, together with our allies, are flying more than 620+ aircraft operating from 27 locations around the world. The F-35 strengthens national security, enhances global partnerships, and powers economic growth. The program leverages economies of scale, both in production and sustainment, to drive down cost and increase efficiencies while improving interoperability with our partners around the world. As you know, near-peer adversaries like China and Russia continue to advance their air defense systems, develop their own 5th generation fighters, and invest heavily in emerging technologies that threaten America’s military edge. It is with this in mind that we urge the committee to ensure that a robust modernization plan is supported to continue to insert advanced technologies and capabilities into the F-35. This may require additional funds to restore previous funding reductions, address performance challenges tied to TR-3, and support critical capabilities tied to Block 4 modernization to keep the F-35 ahead of our adversaries.
    [Show full text]
  • April 19, 2021 the Honorable Mitt Romney United States Senate
    April 19, 2021 The Honorable Mitt Romney United States Senate Washington, D.C. 20510 The Honorable Kyrsten Sinema United States Senate Washington, D.C. 20510 As an organization of small business owners and entrepreneurs representing over 500,000 members, we oppose your proposal to increase the federal minimum wage. Small businesses are already suffering from the worst pandemic in a century and raising the minimum wage will cause even more damage. According to Facebook’s Global State of Small Business report, almost one-third of small businesses have reduced their workforces due to the pandemic and 51 percent of small businesses reported year-over-year sales declines in January. The states you represent, Utah and Arizona, have experienced the toll. At its peak, Arizona lost 295,000 jobs and only 69% of those jobs have returned. In Utah, 16% of women have withdrawn from the workforce. Major corporations like Amazon support raising the minimum wage because they know it will harm their small business competitors. In March of this year, the Senate rightfully rejected an amendment that would raise the federal minimum wage to $15 per hour. According to the non-partisan Congressional Budget Office, a $15 minimum wage would destroy up to 2.7 million jobs nationwide. According to an October 2020 study by the Employment Policies Institute, a $15 minimum wage would cost Arizona and Utah a combined 40,000 jobs. Instead of raising the minimum wage, Congress should expand the Earned Income Tax Credit (EITC). The EITC supplements low-income wages through the tax code, rewarding work without punishing small businesses.
    [Show full text]
  • Daily Digest
    Wednesday, January 20, 2021 Daily Digest HIGHLIGHTS The House and Senate met for the Inauguration of President Joseph Robinette Biden, Jr. and Vice President Kamala Devi Harris. Senator-elect Jon Ossoff, of Georgia, Senator-elect Raphael Warnock, of Georgia, and Senator-designate Alejandro Padilla, of California, were administered the oath of office by the Vice President. Senate agreed to S. Res. 6, to elect Patrick J. Leahy, a Senator from the State of Vermont, to be President pro tempore of the Senate of the United States. Senate confirmed the nomination of Avril Danica Haines, of New York, to be Director of National Intelligence. Senate Secretary for the Minority of the Senate: Senate Chamber Action agreed to S. Res. 11, electing Robert M. Duncan, of Routine Proceedings, pages S63–S74 the District of Columbia, as Secretary for the Minor- Measures Introduced: Six resolutions were intro- ity of the Senate. Page S65 duced, as follows: S. Res. 6–11. Page S72 Swearing In of Senator Ossoff: The Chair laid be- Measures Passed: fore the Senate the certificate of election of Senator- elect Jon Ossoff, of the State of Georgia, and the President Pro Tempore: Senate agreed to S. Res. oath of office was then administered as required by 6, to elect Patrick J. Leahy, a Senator from the State the U.S. Constitution and prescribed by law. of Vermont, to be President pro tempore of the Sen- Pages S63–64 ate of the United States. Page S64 Swearing In of Senator Warnock: The Chair laid President Pro Tempore Emeritus: Senate agreed before the Senate the certificate of election of Sen- to S.
    [Show full text]
  • Congressional Record—Senate S1923
    April 14, 2021 CONGRESSIONAL RECORD — SENATE S1923 An attack on one group in our coun- CLOTURE MOTION NAYS—6 try is truly an attack on all of us. By Cotton Hawley Paul The PRESIDING OFFICER. Pursuant passing the COVID–19 Hate Crimes Act, Cruz Marshall Tuberville to rule XXII, the Chair lays before the we can come together on a bipartisan Senate the pending cloture motion, NOT VOTING—2 basis to show that the U.S. Senate will which the clerk will state. Rounds Tillis not be a bystander to the wave of rac- The PRESIDING OFFICER. On this ist, anti-Asian violence in our country. The senior assistant legislative clerk vote, the yeas are 92, the nays are 6. So let’s get it done together. read as follows: Three-fifths of the Senators duly cho- I yield the floor. CLOTURE MOTION sen and sworn having voted in the af- VOTE ON MALLORY NOMINATION We, the undersigned Senators, in accord- firmative, the motion is agreed to. The PRESIDING OFFICER. Under ance with the provisions of rule XXII of the f the previous order, all postcloture time Standing Rules of the Senate, do hereby has expired. move to bring to a close debate on the mo- LEGISLATIVE SESSION The question is, Will the Senate ad- tion to proceed to Calendar No. 13, S. 937, a vise and consent to the Mallory nomi- bill to facilitate the expedited review of --- nation? COVID–19 hate crimes, and for other pur- COVID–19 HATE CRIMES ACT— poses. MOTION TO PROCEED Ms. HIRONO. Madam President, I ask Charles E.
    [Show full text]
  • 1 September 2, 2021 the Honorable Charles Schumer Majority Leader
    September 2, 2021 The Honorable Charles Schumer Majority Leader United States Senate Washington, DC 20510 The Honorable Sherrod Brown Chair Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building Washington, DC 20510 Dear Majority Leader Schumer and Chair Brown: As members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, representing an array of states with extensive transit needs, we are writing to ask that the Banking, Housing, and Urban Affairs Committee allocate at least $30 billion for transit in the upcoming reconciliation bill. While the Infrastructure Investment and Jobs Act was an important down payment on our nation’s public transportation systems, the legislation included $46 billion less for transit than President Biden proposed in his American Jobs Plan. Transit is vital for urban, suburban, and rural communities across our nation. Investments in transit are a matter of equity and racial and economic justice. Black Americans are three times less likely to own a car than white Americans. Among urban residents, Latino Americans are twice as likely compared to white Americans to regularly use public transit.1 Redlining and other discriminatory federal policies have disproportionally exposed Black and brown communities to environmental harms at unacceptably higher rates than in neighboring communities. Furthermore, Environmental Protection Agency (EPA) research on the health effects of particle pollution concluded that nonwhite populations faced higher risk from these pollutants and toxins.2 Transportation is a huge source of this pollution, especially combustion engines. Robust investment in electrified transit infrastructure is essential to tackling the climate crisis, and will be an important step forward to address the environmental injustice of past Federal policies.
    [Show full text]
  • For Immediate Release Contact
    For Immediate Release Contact: Terrance Hamm Associate Vice President, Communications and Marketing Council for Opportunity in Education [email protected] Mobile: (202) 230-0021 RECORD 56 BIPARTISAN SENATORS URGE CONGRESS TO PRIORITIZE ROBUST FUNDING FOR FEDERAL TRIO PROGRAMS Federal TRIO Programs assist low-income, first-generation students and students with disabilities as well as other marginalized groups prepare for and enter college. WASHINGTON, D.C. (July 7, 2021)—The non-profit Council for Opportunity in Education (COE) announced today that a record 56 Senators joined a bipartisan “sign-on” letter urging the leaders of the Senate Appropriations Committee to prioritize robust funding for the Federal TRIO Programs (TRIO) in Fiscal Year 2022. Rooted in the Civil Rights Movement of the 1960s and authorized by the Higher Education Act, TRIO programs provide academic support, personal mentoring and advising, as well as financial counseling to help first-generation and low-income students, as well as students with disabilities, military veterans, and other underrepresented students achieve their higher education goals. “Across the nation, TRIO programs help to ensure that underserved students have equal access to a college education and the support they need to prepare for, succeed in, and graduate from higher education,” said Senator Susan Collins (R-ME), Co-Chair of the Congressional TRIO Caucus. “I have long supported the TRIO programs and worked to ensure that they are reaching the students who need them most. The record number of bipartisan Senators who signed our letter in support of TRIO is an encouraging sign of the Senate’s continued commitment to these programs.
    [Show full text]
  • January 8, 2021 Volume 5, No
    This issue brought to you by 2022 Senate Ratings BATTLEGROUND Democratic-Held (4) Republican-Held (4) Cortez Masto (D-Nev.) NC Open (Burr, R) Hassan (D-N.H.) PA Open (Toomey, R) JANUARY 8, 2021 VOLUME 5, NO. 1 Kelly (D-Ariz.) Johnson (R-Wisc.) Warnock (D-Ga.) Rubio (R-Fl.) Solid Democratic (10) Solid Republican (16) Wrestling With the Mob Bennet (D-Colo.) Blunt (R-Mo.) Blumenthal (D-Conn.) Boozman (R-Ark.) By Nathan L. Gonzales & Jacob Rubashkin Duckworth (D-Ill.) Crapo (R-Idaho) Padilla (D-Calif.)* Grassley (R-Iowa) The invasion of the U.S. Capitol will live forever in America’s history. Leahy (D-Vt.) Hoeven (R-N.D.) One of the core problems is that the country is so divided that people do Murray (D-Wash.) Kennedy (R-La.) not agree on the size of the stain. Schatz (D-Hawaii) Lankford (R-Ok.) The violent attempt to prevent Congress from ratifying Joe Biden’s Schumer (D-N.Y.) Lee (R-Utah) presidential victory might not have been a surprise to President Donald Van Hollen (D-Md.) Moran (R-Kan.) Trump’s critics, but few people thought it would play out on such a Wyden (D-Ore.) Murkowski (R-Alaska) grand scale. Paul (R-Ky.) The worst time to evaluate the political fallout of an event is in the Portman (R-Ohio) middle of it. Sadly, it’s unclear whether this is the beginning, middle, or Scott (R-S.C.) end of this level of derision and division. Shelby (R-Ala.) While some Republican elected officials might try to back away from Thune (R-S.D.) Trump after years of supporting or justifying him, the president and his Young (R-Ind.) party have cultivated a group of voters who are not so easily persuaded.
    [Show full text]