The following is a letter I submitted in support of California Assembly Bill 1192, which would enact into law the High-Road Employer Certification Initiative developed by California Controller Betty Yee and Rick Wartzman at the Drucker Institute.
April 14, 2021
The Honorable Ash Kalra, Chair
Committee on Labor and Employment
California State Assembly
Sacramento, CA 95814
Re: AB 1192 (Kalra) – SUPPORT
Dear Mr. Chairman and Members of the Committee:
I am writing in support of AB 1192, the Uplifting Employers That Advance Job Quality Act. This is an important piece of legislation because it will allow the State of California and numerous other stakeholders, including the corporate governance and investor community, to collect standardized data to understand both company-specific and larger corporate trends on human capital, labor and employment. The Act also will also create positive incentives for companies to take affirmative steps to treat their workers in a more fair and equitable manner. All of this is in both California’s and the United States’ broad public interest, and it dovetails with both Governor Gavin Newsom’s and President Joseph Biden’s policy goals.
California has a tradition of being a leader for other states on important legislative initiatives on corporate governance. SB 826 and AB 979 have had enormous positive impacts throughout the US capital markets and corporate America and led other states, as well as Nasdaq, to introduce similar provisions. AB 1192 follows this proud tradition and could not come at a more critical time for our country.
I encourage the members of the Committee and all Assembly Members to vote for AB 1192.
Respectfully,
Douglas K. Chia
President, Soundboard Governance LLC
Fellow, Rutgers Center for Corporate Law and Governance
Adjunct Professor, Fordham University School of Law