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Shareholders Score Records on Corporate Diversity Push in 2021

A turnabout at IBM adds to pressure from investors to keep diversity promises

Nine out of 10 investors backed a call last month for IBM to produce an annual diversity report.

Nine out of 10 investors backed a call last month for IBM to produce an annual diversity report.

Photographer: Andreas Arnold/Bloomberg

The year 2021 is shaping up to set records for diversity proposals at U.S. company annual meetings.

Nine out of 10 investors backed a call last month for International Business Machines Corp. to produce an annual diversity report. Five other companies, including renewable energy firm First Solar Inc. and chemical giant DuPont de Nemours Inc., saw more than 80% of shareholders backing diversity proposals.

A year after the death of George Floyd galvanized protests against racial injustice, the same cultural pressures that prompted hundreds of the largest companies to pledge changes in their business operations to support racial equity are now fueling  an unprecedented number of boardroom proposals designed to ensure they keep their word.