Massachusetts Pension Board To Consider Diversity Proposal
BOSTON (AP) — Massachusetts' pension board is considering a plan to use its shareholder muscle to press companies to include more women and racial minorities on corporate boards.
A board vote on the plan is expected Tuesday.
A committee of the Pension Reserves Investment Management Board oversees the state's $61 billion pension fund and has recommended the board adopt the guidelines. Under them, the board would use its shareholder status in a company to vote against all corporate board nominees unless at least a quarter of them are women and racial minorities.
The rule was proposed by Democratic state Treasurer Deb Goldberg, who chairs the nine-member board.
It also seeks to use the board's proxy voting to push companies to adopt wage equality, renewable energy and human rights standards.
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