Calvert Raises Board Diversity Standards

By Randi Morrison posted 04-12-2021 07:10 PM

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According to its recent post: “Why we raised our standards for proxy voting on board diversity,” Calvert Research and Management has upped the ante on board diversity, indicating the fund will vote against nominating committees of companies that have fewer than two women on the board (global policy) and against the nominating committee at companies that have fewer than two people of color or are less than 40% diverse (US and other select markets). US companies must therefore have at least two women, two people of color, and be at least 40% diverse to garner the fund’s support. Calvert formerly required at least one woman (global policy) and one person of color and at least 30% diversity (US and other select markets) to avoid a “no” vote. See its updated proxy voting guidelines.

This post first appeared in the weekly Society Alert!

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