SUPPORTING STATEMENT
According to recent Gallup polls the United States is experiencing a demographic shift. While 10.5% of Millennials
identify as LGBT, almost twice that number, 20.8%, of Generation Z identify as LGBT. About one-third of LGBT individuals
report experiencing harassment or discrimination in the five years preceding 2021 and 45.5% 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. Additionally, LGBTQ+ rights in the workplace and elsewhere have been the topic of national discussion for
years.
IP recognizes the importance of inclusiveness in effective workforce management. In its 2023 Proxy Statement the
Company stated: “We believe in an inclusive workforce where diverse backgrounds are represented, engaged and
empowered to inspire innovative ideas and decisions. To foster a more diverse and inclusive workplace, we are focused
on promoting a culture of diversity and inclusion that leverages the talents of all employees, and implementing practices
that attract, recruit and retain diverse top talent.”
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 report,
Business Success and Growth Through LGBT-Inclusive Culture: “Companies that adopt LGBT-inclusive practices tend to
improve their financial standing and do better than companies that do not adopt them. Additionally, employeesregardless of their sexual orientation or gender identity, express greater job satisfaction at companies where these
practices are in place.” Morgan Stanley has found that such employee loyalty “can indicate the presence of competitive
advantage.”
Considering the Company’s support for the business case for inclusion, the Company’s support for inclusive policies, and
the growing number of LGBTQ+ individuals entering the workforce, we believe that it is in shareholders’ best interests for
IP to report on the requested information.
In its discretion, the Board may wish to include in the report information such as: whether the Company has inclusive
nondiscrimination policies or guidelines, the equality and inclusiveness of employee benefits, and the availability of
employee support groups. Additionally, it may wish to disclose whether IP collects anonymized sexual orientation and
gender identity data to guide talent development, increase productivity, and prove to consumers that inclusive teams are
serving them.