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Amazon Investors Urged by ISS to Vote in Favor of Racial Audit

  • Firm had previously advised against similar audits at banks
  • Online-retailing giant is holding its annual meeting on May 26
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Photographer: Gabby Jones/Bloomberg Inc. investors should vote in favor of an independent racial audit at the world’s largest online retailer, said Institutional Shareholder Services Inc., a proxy firm that previously advised stockholders to vote against similar resolutions at large U.S. banks.

The New York State Common Retirement Fund filed the proposal with the company, asking it to undergo an independent audit of its impacts on civil rights, equity, diversity and inclusion, and how those issues affect Amazon’s business. ISS said in a report that, in light of discrimination lawsuits, an audit would help shareholders better assess the retailer’s efforts to address racial inequality.