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Corporate Call to Action: Coalition for Equity & Opportunity (CEO)Announces Commitments to Disclose Workforce Data,Furthering Diversity, Equity and Inclusion Efforts
Disclosure of EEO-1 Data Will Provide New Transparency on Workforce
Demographics
HARTFORD, CT – Today, February 11, 2021, Today, members of the Corporate Call toAction: Coalition for Equity & Opportunity (CEO), a working group launched by theConnecticut Office of the Treasurer and the Ford Foundation, announced commitments topublicly disclose workforce demographic data that is currently reported to the U.S. Equal
Employment Opportunity Commission. Known generally as “EEO-1 data,” these disclosureswill, for the first time, allow investors, consumers and other stakeholders to assess thecomposition of the workforce of these companies, and to measure progress toward greater
diversity.
The Coalition, launched in September 2020, represents $26 trillion in assets. The purpose ofthe Coalition is to confront long-standing economic disparities based on race in the UnitedStates and their impact on the nation’s economy. Coalition members have committed toestablishing long-term, measurable efforts that address issues of racial justice and advanceeconomic prosperity for all.
Today’s announcement by Coalition partners declares their commitment to providing ademographic breakdown of their company’s workforce by race, ethnicity and gender, andencourages the companies they invest in to do the same.
Coalition members that have newly committed to disclose EEO-1 in 2021 are: AberdeenStandard Investments, AllianceBernstein, Bridgewater Associates, Franklin Templeton,Invesco Ltd., Schroder Investment Management North America Inc., The Hartford, TeachersInsurance and Annuity Association of America, Vista Equity Partners, and Wellington
Management. In addition, Coalition member UBS has agreed to disclose equivalent data
reflecting the gender and racial composition of their workforce.
These members join other Coalition members that are currently disclosing EEO-1 data: Bank

of America, BlackRock, Goldman Sachs, Morgan Stanley, State Street Global Advisors, andT. Rowe Price Group, Inc.
This effort in transparency is a reflection of a shared commitment to racial diversity, and isresponsive to growing investor interest in data regarding workforce diversity. According toBarron’s, just 4% of all public companies currently disclose their EEO-1 data. [1] The Coalition’scommitment sets a new standard for collective action and models a level of disclosure thatindustry leaders in financial services can follow. This commitment joins a drumbeat of related
commitments and proposals made by these and other individual companies as well as
NASDAQ and other market intermediaries.
“This collective leadership is an example of one of the many steps that corporations can taketo enact long-lasting change in our country through increased transparency of andaccountability for diversifying the corporate workforce,” said Connecticut State Treasurer,Shawn T. Wooden. “Closing racial economic disparities will benefit our country in the longterm, and this is a significant step in the right direction.”
All companies with more than 50 employees are already required to provide EEO-1 data to
the federal government, which allows for a standard reporting of diversity data. If a criticalmass of companies disclose their data publicly, companies can benchmark themselves
against peers and progress can be tracked over time. EEO-1 data can also be the foundation
for additional metrics, such as pay equity and promotion velocity.
“Corporate America plays a critical role in shifting industry norms and expectations,” said
Darren Walker, president of the Ford Foundation. “By disclosing this crucial data, these
corporations are holding a mirror to themselves and providing the transparency needed toidentify disparities in the workforce, with the ultimate goal of accelerating the hiring of diverse
talent that will help each company thrive.”
Members of the CEO Coalition will continue to develop and implement tangible, measurableactions to influence and improve conditions outside of their respective organizations.
The EEO-1 data disclosure proposal was brought to the working group by State Street GlobalAdvisors, which last August announced a robust set of corporate commitments to racial equity
and stated similar expectations of portfolio companies.
“As we have learned from our own engagement with companies on the issue of diversity,
disclosure leads to action — and action leads to change,” said Cyrus Taraporevala, Presidentand Chief Executive Officer of State Street Global Advisors. “Disclosing EEO-1 data is an
important step on our collective journeys — it will ensure more accountability to clients,
shareholders and the public writ large while driving greater performance over the long term.”“Wellington is proud to be a member of the Corporate Call to Action and to commit totransparency around our diversity, equity, and inclusion efforts,” said CEO Brendan J. Swords.
“A diverse workforce and inclusive culture are critical to the pursuit of our mission: to exceed
the investment and service expectations of our clients. We look forward to sharing ourdiversity data both to create accountability and to help pave a path for our firm and industry tochart progress.”
This is the first of many commitments that are expected to be announced this year as part ofthe CEO Coalition.
[1] Barron's: Only 4% of Companies Reveal the Racial Makeup of Their Employee Base. Investors Are Pushing to Change###The Office of the State Treasurer
Under the leadership of Connecticut’s State Treasurer Shawn T. Wooden, the Office of theTreasurer is dedicated to safeguarding the state’s financial resources and taxpayers’ dollars,
while maximizing returns and minimizing risks for pension beneficiaries and operating at thehighest professional and ethical standards. Through investments and cash management, theoffice continues to enhance the state’s fiscal stability, financial literacy, college and disability
savings, and its approach to leveraging business partnerships to combat social issues such as
gun violence, climate change, and equal opportunity for economic growth. Learn more about
the Office of the Treasurer here and follow along on on on Facebook, Instagram and Twitter.
The Ford Foundation
The Ford Foundation is an independent, nonprofit grant-making organization. For more than
80 years it has worked with courageous people on the frontlines of social change worldwide,
guided by its mission to strengthen democratic values, reduce poverty and injustice, promoteinternational cooperation, and advance human achievement. With headquarters in New York,the foundation has offices in Latin America, Africa, the Middle East, and Asia.

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