A group of state treasurers, public pension plans and foundations called on the boards of Facebook Inc., Exxon Mobil Corp. and other companies to halt donations to elected officials who backed voter suppression efforts or voted against the certification of the 2020 Presidential election.
The group, which includes California Public Employees’ Retirement System and the Rhode Island State Treasury, Wednesday sent a letter to the boards of more than 80 companies, which included major banks, retailers, and technology companies, such as Citigroup Inc., Walmart Inc. and Microsoft Corp.
The coalition called on companies to change their policies to ban contributions to candidates or campaign committees that have supported efforts to restrict voting rights or otherwise limit the civil rights of people of color, according to a statement released Thursday. The group, organized by Majority Action, a non-profit shareholder advocacy group, and Service Employees International Union, also asked its targets to publicly disclose all political donations.
“As a state treasurer, I am fully invested in seeing all citizens exercise their constitutional right to vote,” said
After the deadly riot at the U.S. Capitol in January, many companies
“The time for half measures is over,” said Eli Kasargod-Staub, co-founder of Majority Action. “Systemic racism creates material specific risks for long-term shareholders.”
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