Published to coincide with International Equal Pay Day, the first edition of a new annual scorecard ranking 33 of the world's largest financial, technology, and retail companies on their current gender pay disclosures, performance, and commitments shows Apple, Nike, Starbucks, Wells Fargo and JP Morgan with the highest grade (A-).
Facebook, Goldman Sachs and Walmart are among 11 companies that share the lowest grade (F). In general, the Arjuna Capital/Proxy Impact Gender Pay Scorecard (GPS) found — to no one’s surprise — that there’s more work to be done to disclose gender pay risks and opportunities to investors.
Apple tops the 2018 GPS list with a grade of A-, illustrating strong performance with 100% equal and racial adjusted pay equity including base, bonus and equity components, annual disclosure, and 100% global coverage. Median U.K. pay of 86% and 64% for hourly and bonus pay are above average and average compared to the peer list respectively, yet continue to reflect a structural deficit in the ranks, where men hold more of the higher paying leadership roles. However, Apple, like its peers, receives a sub- category score of 0 for lack of a global median pay gap disclosure.
The report published by Arjuna Capital and Proxy Impact takes a quantitative accounting of current disclosures and goals to help investors navigate best practices on pay equity. GPS ranks companies on quantitative pay disclosures (not qualitative assurances), commitments to report annually, coverage, and goals.
Arjuna Capital is an investment firm focused on sustainable and impact investing. Proxy Impact provides shareholder engagement and proxy voting services that promote sustainable and responsible business practices.