Comptroller Thomas DiNapoli
Shareholder resolutions haven’t worked, so after the U.S. Supreme Court’s ruling striking down the Defense of Marriage Act, New York state Comptroller Thomas DiNapoli is trying a new tactic to force the ExxonMobil to adopt an LGBT-inclusive nondiscrimination policy.
In the past, DiNapoli has filed shareholder resolutions with ExxonMobil. As the sole trustee of the state’s $160 billion pension fund, he has some clout among many companies whose stock is in the fund. He has successfully negotiated changes in policies at about 30 of them.
As head of the pension fund, he uses the business argument. If ExxonMobil discriminates by not offering benefits to same-sex married couples, while Shell, Chevron and BP offer the benefits, then the company is shrinking its employee pool and hurting the value of the stock the state owns. New York controls more than $1 billion in ExxonMobil stock.
But ExxonMobil has refused to talk. Had the a shareholder resolution adding LGBT employees to the company’s EEO policy passed, Exxon’s rating on the Human Rights Campaign’s Corporate Equality Index would have gone from a minus-25. But this year, 70 percent of Exxon shareholders voted down the resolution.
With the DOMA ruling, DiNapoli, who sees himself as upholding the laws of the state he serves, is trying a new tactic, according to the Associated Press.
DiNapoli is writing a letter to President Barack Obama asking him to order federal agencies and others to recognize all marriage licenses issued by New York. The executive order would recognize place of celebration rather than state of residence in deciding eligibility for benefits.
Companies wouldn’t be able to choose which marriage licenses issued by New York and other equality states to honor. Benefits given to straight couples married in New York would have to go to same-sex couples married in New York. As a result a number of federal benefits would be realized that same-sex couples may or may not be entitled to receive.
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