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NEWS from the Office of the New York State Comptroller
Contact: Press Office 518-474-4015

NYS Comptroller DiNapoli Statement on Major Support for Racial Equity Audit at Amazon

Proposal From New York State’s Pension Fund Received Support From 44.18 Percent of Shareholders

May 28, 2021

New York State Comptroller Thomas P. DiNapoli released the following statement in response to Amazon’s disclosure of vote results from its annual meeting on Wednesday. DiNapoli and the New York State Common Retirement Fund’s request for an independent review of the company’s policies and practices related to racial diversity, equity and inclusion won support from 44.18% of Amazon shareholders, an immense success for a first-time proposal. If CEO Jeff Bezos’ shares (70,616,270 shares, 14%) were to be removed from those voting "against” it, the proposal received majority support.

“Shareholders sent a loud message to Amazon that they want the company to do more to address racial diversity, equity and inclusion. It's time for Amazon to listen to its investors and take steps to address these issues. Amazon needs to ensure that it is effectively addressing inequality and protecting the company’s long-term success. The call for racial equity is not going away and neither are Amazon's shareholders. We will continue to press Amazon to take an independent look at how it is addressing racial justice and equity, just as other major corporations have done.”

About the New York State Common Retirement Fund

The New York State Common Retirement Fund is the third largest public pension fund in the United States with estimated assets of $254.8 billion as of March 31, 2021. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. The Fund's fiscal year ends March 31.