Founded in 1972, Sequoia Capital is a venture capital firm that provided venture funding to many of the Fortune 500 companies, including Apple, Atari and Airbnb. Its business is to build companies from ideas to initial public offerings. Sequoia Capital is a separate business from the other entities that operate under Sequoia brand, including Sequoia China, Sequoia India, Sequoia Heritage and Sequoia Capital Global Equities. Each of them have their own investment teams and make independent investment decisions.
In terms of its approach to senior leadership accountability, Sequoia Capital has an opportunity to assign responsibility for sustainability to the group’s highest governing body and link the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. It has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. Sequoia Capital has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
There is no evidence that Sequoia Capital discloses a target to reach net-zero financed emissions by 2050. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, it has an opportunity to disclose the amount of its investment devoted to climate solutions. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.
There is no evidence that Sequoia Capital has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. It has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Furthermore, it has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, Sequoia Capital has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.