LENNAR CORPORATION | Report disclosing the Company’s LGBTQIA+ equity and inclusion efforts in its human capital management strategy at Lennar Corporation

Status
Filed
AGM date
Previous AGM date
Proposal number
6
Resolution details
Company ticker
LEN
Lead filer
New York State Common Retirement Fund
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Diversity, equity & inclusion (DEI)
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Discretionary
Company HQ country
United States
Resolved clause
Shareholders of Lennar Corporation (Lennar) request the Board of Directors to report on the Company’s LGBTQIA+ equity and inclusion efforts in its human capital management strategy. In its discretion, the Board may wish to include in the report: whether the company has inclusive programs and nondiscrimination guidelines, the equality and inclusiveness of employee benefits, and the availability of employee support groups. Additionally, it may wish to disclose whether Lennar collects anonymized sexual orientation and gender identity data to guide talent development, increase productivity, and prove to consumers that inclusive teams are serving them.

This report, prepared at reasonable cost and omitting confidential or proprietary information, should be publicly disclosed to its shareholders.
Supporting statement
According to recent Gallup polls the United States is experiencing a demographic shift. While 9.8% of Millennials identify as LGBTQ+, over twice that number, 22.3%, of Generation Z individuals identify as LGBT. About 22% of LGBT individuals report experiencing harassment or discrimination in the five years preceding 2023 and 47% experienced harassment or discrimination at some point in their lives, according to a national study conducted by the Williams Institute at UCLA School of Law.

Lennar recognizes the importance of inclusiveness in effective workforce management. In its 2023 Social Responsibility Report Lennar’s Executive Chairman and Co-CEO Stuart Miller stated “Our associates are our most valuable asset, and we are committed to building an inclusive and diverse workforce that supports each associate’s unique journey.” The Report highlighted Lennar’s “Everyone’s Included” mission: “[w]e are focused on attracting, retaining, and developing talent that will represent the communities which we serve[.]”

Numerous studies have pointed to the benefits of effective workforce management and found that companies can retain employees through inclusive policies. In addition, the U.S. Chamber of Commerce Foundation observed in its 2023 report,

Better Business: The Benefits of LGBTQ+ Workplace Inclusion: “Firms with LGBTQ+ inclusive practices show positive impact on profitability and market valuation. . . LGBTQ+ employees are more devoted to their jobs and are more productive in inclusive workplaces.”

Considering the Company’s support for the business case for inclusion, the Company’s support for inclusive policies, and the growing number of LGBTQIA+ individuals entering the workforce, we believe that it is in shareholders’ best interests for Lennar to report on the requested information.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.