Half of the world’s largest companies fail when it comes to paying women equally to men, a new report says.
The report, released Monday, ranked 46 of the world’s largest companies on gender and racial pay equity and failed a whopping 23 of them, including Goldman Sachs, McDonald’s, Walmart, Colgate and Oracle.
Just one company — Citigroup — got an “A” grade, according to the report by investment advisory firm Arjuna Capital and shareholder advisory firm Proxy Impact.
It is the second annual Arjuna/Proxy Impact report, known as the “Gender Pay Scorecard,” and it saw fit to give nine of the 46 companies a “B” for their efforts to disclose and act on their gender pay gaps.
That group consists of American Express, Apple, Bank of New York Mellon, Intel, JPMorgan, Nike, Pfizer, Starbucks and Wells Fargo.
Natasha Lamb, the Arjuna managing partner who served as the report’s lead author, said her firm has gotten commitments from 22 US companies to disclose and take steps to close their pay gaps on an equal-pay-for-equal-work basis.
She called it an important first step before adding, “It’s time for Silicon Valley and Wall Street to step up their game.”