When it comes to social issues, big corporations generally stay away and try to keep their hands clean. They normally act as pressure groups and work behind the scene. However, Amazon re-defined those dynamics. They recently added a webpage titled “Our Positions” in its about page. The page carves out the firm’s stand on public policy agenda, which has a direct impact on business in America.
Amazon put forward its views on a total of 11 socio-political issues, including Federal minimum wage, climate change, diversity and inclusion, energy, LGBTQ+ rights, immigration, technology-based governance, regulatory framework, counterfeiters, data privacy, and corporate taxes. Besides lining out a framework, the company urged, “There is much room for healthy debate and differing opinions. We hope being clear about our positions is helpful.”
On the issue of minimum federal wages in the US, Amazon uttered that the allowance is “too low and should be raised.” It is speculated that the issue might become a hot topic for the upcoming presidential elections. Further, the section states the federal minimum wage at $7.25 and has not been hiked since 2009. According to the firm, the increase in minimum wage will “have a profound impact” and help in coping with the issue of growing income disparity. Moreover, it cleared that the firm pays a minimum wage of $15 an hour to all employees working across the United States.
Addressing the issue of climate change, Amazon assured to fulfill ‘The Climate Pledge’ of the Paris Agreement 10 years early. Additionally, the page stated that Amazon is investing to be a carbon-neutral firm by 2040 and will run on 100% renewable energy by 2030. The Seattle based tech firm supported and lobbied for reforms to the immigration system. The framework proposed by the page includes a legal way for immigrants to be a citizen, several reforms to the green card and a highly skilled visa program. The company also pointed out the travel ban imposed by the Trump administration.
As per Amazon, the Intellectual Property Rights (IPR) and Copyrights should be taken much more seriously. The firm suggests that counterfeiters are “undeterred and continue to push their products through online and physical stores, harming both consumers and the retail companies, who serve them.” Woking for curbing down the issue, Amazon invested more than $400 million to fight fraud and counterfeiting.
Data is going to be the biggest commodity in the upcoming times. The policy paper said, “Consumer data privacy should be protected under federal law.” Further, Amazon elaborated that the corporate tax code should be aimed at “incentivize investment in the economy and job creation.” There shouldn’t be any loopholes and overlap in tax brackets. Taking the global community into consideration, it declared support for the Organisation for Economic Co-operation and Development (OECD), which is an organization working on reviewing the international tax system.
Interestingly, Amazon is expected to be a $1 Trillion firm yet again. At present, Microsoft and Apple are the two companies that are ahead of Amazon in the total market capitalization.