New York State Comptroller Thomas P. DiNapoli and Victor Calise, Commissioner, NYC Mayor’s Office for People with Disabilities, joined AAPD and Disability:IN to advocate for “disability” to be included in the Nasdaq’s definition of “diverse” for its listing rules. This was prompted by Nasdaq’s “Notice of Filing of Proposed Rule Change to Adopt Listing Rules Related to Board Diversity,” which only included gender, race and sexual orientation in its definition of “diverse.”
“Companies succeed when their workforces reflect the diversity of America and when they develop a corporate culture that embraces equity and inclusion. Many companies are taking meaningful steps towards achieving diversity, equity and inclusion, but it’s clear more is needed.”
-Thomas P. DiNapoli, New York State Comptroller
This a part of DiNapoli’s larger inclusion initiatives. The New York State Common Retirement Fund (Fund) has launched a multi-faceted initiative to hold publicly-traded corporations and their top executives accountable for their diversity, equity and inclusion policies and practices. The Fund’s Proxy Voting Guidelines state that the Fund will scrutinize boards that are not sufficiently diverse, including diversity of age, race, gender, ethnicity, sexual orientation and gender identity, geography, and disability. The Fund will also encourage its portfolio companies to disclose whether directors identify themselves as LGBTQ+ or a person with a disability, with the goal of further expanding the Fund’s voting policy during the coming years.
About the New York State Common Retirement Fund: The New York State Common Retirement Fund is the third largest public pension fund in the United States with an estimated value of $247.7 billion as of Dec. 31, 2020. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. The Fund’s fiscal year ends March 31.
