Press release

Arjuna Capital, TIME’S UP Take Fight for Median Gender/Racial Pay Reporting to Alphabet/Google Annual Meeting

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When Alphabet, Inc. (Google) board members hear from investors on a
shareholder proposal filed by Arjuna Capital and co-filer Proxy Impact,
asking the company to publicly disclose its global median gender and
racial pay gaps, including the risks inequity poses to recruiting and
retaining top female talent, that message will come from TIME’S UP.

Speaking on behalf of Arjuna Capital and Proxy Impact, Sky Kelley,
member of TIME’S UP, founder & CEO of Avisare and one of the first
African American women ever to raise more than $1 million in VC funding,
will challenge Google’s obfuscation of the importance of median gender
pay gap disclosures in the tech sector.

The Arjuna Capital and Proxy Impact pay equity shareholder proposal on
the ballot at Alphabet, Inc.’s annual meeting for the fourth time is
available for download at:

Sky Kelley, representing TIME’S UP and speaking on behalf of the
proposal filers Arjuna Capital and Proxy Impact, said: “Google is
doing an injustice to its employees and its investors by refusing to
release data about both equal pay and equal opportunity, which is what
the ‘median pay gap’ is. Women who work full time in the US make 80
cents on the dollar versus men, black women make 60 cents on the dollar
and Latinas only 55 cents. It’s time Alphabet do what they are already
doing in the UK and release their global data about median pay for women
and people of color so they can finally do the important work of closing
this gap once and for all.”

To view Sky Kelley’s remarks today at the Alphabet, Inc. annual
shareholder meeting, go to:

Alphabet, Inc. is streaming its shareholder meeting here:

Arjuna Capital Managing Partner Natasha Lamb said: “The obfuscation
that men make less than women at Google is disturbing to smart
investors, as we know men are holding a disproportionate number of high
paying jobs. That’s why we’re back at the annual meeting for the fourth
year in a row asking for more. Investors need more than simply equal pay
for equal work data we need transparent median pay gap disclosures.
Google is one of the world’s largest publicly-traded companies,
employing more than 30,000 women. Its motto is ‘do the right thing.’ So,
it’s time Google put its money where its mouth is. There is a business
imperative for tech giants to recruit and retain women, and they can’t
do that with lip service. Google should take a proactive approach to
address the full extent of gender and racial pay inequity across the
company and hiring problems at the very top. It’s time Google follow the
lead of Citigroup and disclose its global median gender and racial pay
gaps now.”

Michael Passoff, CEO, Proxy Impact and median pay gap resolution
co-filer, said: “Global median pay is the most commonly used way to
measure the gender pay gap in the workplace.
Annual disclosures
allow investors a base line for measuring how companies are progressing
in their efforts to recruit, promote, and retain female talent.
Ultimately, it is both equal pay and equal opportunity that will
eliminate the gender pay gap.”

Median pay is an unadjusted raw measure used by the Organization for
Economic Cooperation and Development (OECD) to assess not only equal pay
but equal opportunity. While median pay is the definition of the gender
pay gap, that’s not how many of the US companies approached by Arjuna
Capital this year are positioning it.

In March, Google’s corporate communications took preemptive steps to
rebut gender pay shareholder activists like Arjuna Capital and Proxy
Impact, issuing a pay equity analysis that claimed they were underpaying
men, not women. Reporting by The New
York Times
immediately poked holes in Google’s report, which omitted
key factors and showed why median pay reporting is critical as a
baseline metric for understanding the scope of gender pay inequity.
Google’s report narrowly compared people in the same job categories,
despite reports from women employees that they are often hired into
lower-tier and lower-pay positions, while men start in higher-level jobs
with higher pay brackets.

Contrary to the counter narrative US companies have crafted to avoid
company-wide wage data reporting, global median pay is a remarkably
accurate way to measure gender equality in the workplace. Annual
disclosures allow investors a base line for measuring how companies are
progressing in their efforts to recruit, promote, and retain female
talent. In no way does it provide misleading optics about the
opportunities available to employees.

Arjuna Capital has teamed up with TIME’S UP to highlight the importance
of median pay gap disclosures so companies tell the whole story of
gender and racial pay inequity. Their disclosures are already incenting
companies in Europe to close the gender pay gap. Transparency is
essential for investors to create accountability and drive change toward
more diverse companies and leadership, and therefore better performance.


In the last five years, at least 64 companies have faced more than 100
shareholder resolutions on the gender pay gap. In 2015, Arjuna Capital
launched the gender pay shareholder campaign when it filed a shareholder
proposal with technology firm, eBay. In 2016 Proxy Impact and other
investors joined this effort.

Arjuna Capital continues to lead this effort and has filed a total of 46
proposals at 23 companies in the tech, financial, and consumer sector.
Twenty-two of these companies have committed to disclose and close their
pay gaps on an adjusted equal pay for equal work basis, an
important first step. In 2019, Arjuna is requesting more comprehensive
reporting from the companies, and filed a new proposal with 12 companies
requesting unadjusted global median gender and U.S. racial pay
gap data. This evolution is important because while adjusted data shows
if there is equal pay for equal work, unadjusted median pay data shows
if there is equal opportunity to high-paying jobs.

A recent op-ed published by Lamb, describes the importance of this

View the Gender Pay Scorecard from Arjuna Capital and Proxy Impact:


 is an organization that insists on safe, fair and dignified work
for women of all kinds. We want women from the factory floor to the
floor of the Stock Exchange, from child care centers to C-suites, from
farm fields to the tech field, to be united by a shared sense of safety,
fairness and dignity as they work and as we all shift the paradigm of
workplace culture.