In “Diversity, Equity, and Inclusion in the 2024 Proxy Season: A New Era of Scrutiny,” The Conference Board reveals the state of play of Russell 3000 DE&I-related shareholder proposals (i.e., workplace diversity, EEO-1 disclosure, and board diversity) for the period January through May 2024 as compared to the same time frame in 2023.
Notably, the number of proposals going to a vote this season is nearly double the number that went to a vote last season (25 proposals and 13 proposals, respectively), as shown here:
While average shareholder support for voted proposals has declined season over season, as-adjusted results excluding anti-DE&I proposals (which have garnered nominal support) for 2024 are generally on par with 2023 (22% and 23%, respectively), as shown here:
The post suggests considerations for companies wishing to pursue DE&I initiatives in a way that is responsive to last year’s Supreme Court’s decision invalidating the use of affirmative action in college admissions and associated implications (including anti-DE&I initiatives) on corporate workforce DE&I and affirmative action practices and programs.
This content first appeared in the Society Alert!