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25 August 2022 / Report
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Copy LinkIn the year following the murder of George Floyd and the protests that broke out across the country and globally, it’s estimated that US companies dedicated $200 billion toward advancing racial equality. Since then, companies have been focused on the challenge of not only effectively investing those resources and measuring the impact of their commitments, but doing so against the backdrop of political polarization, a global economic slowdown, and both rising and conflicting expectations of their role in addressing social issues.
While many of the announcements regarding racism in the summer of 2020 referred to the company’s global commitment to addressing racial inequality, our conversations with Members of The Conference Board and our own research have revealed that many corporate initiatives were US-centric in nature and that companies were often finding it difficult to translate the statements by their US-based CEOs into action outside the US. Moreover, while multinational companies had policies in place to address diversity, equity & inclusion (DEI) within their own organization around the globe, there was little guidance to be found on ways that corporate citizenship functions could address racism externally where they had operations around the globe.
To provide guidance on how global corporations could address racism, in November 2021, The Conference Board Governance & Sustainability Center convened a roundtable that brought together 56 leaders from the
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