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Trillium News

November 11, 2014

Wabtec Expands Non-Discrimination Policies to Include Gender Identity and Expression

NOVEMBER 2014: Following a productive dialogue between Trillium and Wabtec (NYSE: WAB) on the issue of workplace protections, Wabtec has amended its Code of Business Conduct and Ethics to include gender identity and gender expression as stand-alone protected categories. The company’s policy on Diversity and Equal Opportunity now states:

Wabtec’s future depends on its ability to attract and retain the best people at all levels of the Company. To do so, Wabtec must establish and foster an environment that embraces individual differences and encourages everyone to attain their full potential. Wabtec policies and practices strive to assure equal employment and advancement opportunities for all qualified people. Our policy prohibits discrimination with regard to race, color, sex (gender), sexual orientation, gender identity or expression, age, religion, national origin, disability, protected veteran and other uniformed service status or any other characteristic or basis protected by applicable law.

Even with the evolution in favor of allowing same-sex marriage in the U.S., LGBT workers still face legal uncertainty when it comes to workplace discrimination. President Obama’s Executive Order 13672, signed in August, will offer gender identity and gender expression protections to federal contractors, however, there are no federal laws expressly prohibiting discrimination based on sexual orientation or gender identity. Additionally, state and local laws are not comprehensive or consistent with respect to prohibiting employment discrimination.

Trillium commends Wabtec for developing a consistent corporate-wide policy to enhance efforts to prevent discrimination, and hire and retain the best talent. By joining the growing ranks of companies guaranteeing equal opportunity for all employees, Wabtec is well-positioned to strengthen its competitive edge.

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IMPORTANT DISCLOSURE: The views expressed are those of the authors and Trillium Asset Management, LLC as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this material should not be considered a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the authors on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.

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