General Motors Named One of America's Most Just Companies by Forbes and JUST Capital
October 14, 2020 /3BL Media/ - Today, Forbes and JUST Capital published the annual Forbes JUST 100, showcasing the companies doing right by all their stakeholders. GM ranked number one in the automotive industry of America’s Most JUST Companies, making this the fourth year in row that GM has been recognized for its commitment to serving its workers, customers, communities, the environment, and shareholders. GM also ranked first for environment in the automobile and parts sector.
Through vigorous, objective analysis, the Forbes JUST 100 evaluates and celebrates U.S. corporations that outperform on the issues that matter most to the American public – like paying a fair wage, upholding human rights across the supply chain, investing in worker training, acting ethically and with integrity, cultivating a diverse and inclusive workplace, protecting worker health and safety, providing good benefits and work-life balance, and more. By striving to meet the needs of all stakeholders, JUST 100 leaders demonstrate that profits and purpose go hand in hand.
“We’re honored to be recognized as one of America’s Most JUST Companies by Forbes and JUST Capital for four years in a row as it demonstrates our commitment to serving our employees, customers, communities and the environment, through an unprecedented year,” said GM Chief Sustainability Officer, Dane Parker. “Being featured as an Industry leader in automotive confirms our belief that when we do right by all our company’s stakeholders, we deliver long-term success.”
The annual Rankings evaluate the 1,000 largest public U.S. companies across 19 issues, identified through the most comprehensive surveys ever conducted on public attitudes toward responsible corporate behavior, engaging 4,469 American respondents in 2020 and over 110,000 total participants over the past seven years.
JUST Capital expanded this year’s methodology to capture 38 COVID-19 specific data points from their COVID-19 Corporate Response Tracker. The new analysis includes hourly wages increases, paid sick leave, and healthcare benefits for furloughed employees (Workers); payment deferrals, price cuts, and services for vulnerable groups (Customers); cash or in-kind donations to support community relief (Communities); and CEO, or executive, pay cuts (Shareholders).
“Now more than ever, business leaders have the chance to spark lasting systemic change within their companies and across society,” said Forbes Senior Editor Steven Bertoni. “The companies in this year’s JUST 100 show that we can face the twin tragedies of the COVID-19 pandemic and racial inequality and continue to improve our actions and refocus our missions to do better, and be better, for all stakeholders.”
Compared to their Russell 1000 peers, companies in the JUST 100 on average:
- Pay their median workers 18% more.
- Are 4.3 times more likely to have conducted a gender or race/ethnicity pay equity analysis.
- Are 5.6 times more likely to have set diversity and inclusion targets for their workforces.
- Are 12 times more likely to disclose they have conducted a human rights audit within their supply chain.
- Gave 6 times more to charitable causes as a percentage of their pretax profit.
- Were 140% more likely to have offered price cuts to customers during the pandemic.
- Were 92% more likely to have shifted to or prioritized the production of products to support the fight against the pandemic.
- Use 123% more green energy.
- Emit 86% fewer tons of PM 2.5 emissions into the atmosphere.
- Had 56% higher total shareholder return over the past five years.
- Had a 7.2% higher return on equity.
“In the face of a global pandemic, economic recession, and national reckoning with racial injustice, the American public is demanding more from our corporate leaders than ever before,” said Martin Whittaker, CEO of JUST Capital. “The companies featured in the 2021 JUST 100 list have stepped up in service of their workers, customers, and communities this year while delivering long-term value to shareholders.”
Both the Forbes JUST 100 and the Industry Leader list will be featured in the November issue of Forbes, with additional stories at www.forbes.com/just100 and a comprehensive interactive ranking and benchmarking platform at www.justcapital.com.
General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
The defining voice of entrepreneurial capitalism, Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 160 million people worldwide through its trusted journalism, signature LIVE events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. For more information, visit the Forbes News Hub or Forbes Connect.
About JUST Capital
The mission of JUST Capital, an independent nonprofit, is to build an economy that works for all Americans by helping companies improve how they serve all their stakeholders – workers, customers, communities, the environment, and shareholders. We believe that business and markets can and must be a greater force for good, and that by shifting the resources of the $19 trillion private sector, we can address systemic issues at scale, including income inequality and lack of opportunity. Guided by the priorities of the public, our research, rankings, indexes, and data-driven tools help measure and improve corporate performance in the stakeholder economy. To learn more about how data-driven insights are creating a more just future for capitalism, visit: www.JUSTCapital.com.
About Our Methodology
Since 2015, JUST Capital has surveyed 110,000 Americans – representative of the U.S. adult population – including more than 17,000 in 2020 alone. Survey work consists of both qualitative focus groups and quantitative surveys. The 2020 Annual Weighting Survey, conducted in partnership with The Harris Poll and NORC at the University of Chicago, includes responses from close to 4,500 respondents. JUST Capital then tracked and evaluated 931 companies across five stakeholders, 19 issues, and 336 unique data points to produce the ranking model that drives America’s Most JUST Companies, including the JUST 100 and Industry Leader lists. This selection of companies draws from the Russell 1000 Index, which represents over 90% of the U.S. stock market value.