It further said companies must put racial and ethnic justice on their board's agendas, take at least one firm action and set a long-term strategy to become an anti-racist organization and build equitable and just workplaces for professionals with under-represented racial and ethnic identities.
Examples of business commitments towards racial and ethnic justice range from allocating financial and human resources to racial justice work, setting representation goals for all seniority levels, and establishing mentorship programmes for racially and ethnically diverse employees. One of the initiative's starting points will be Black inclusion and addressing anti-Blackness.
"With just 1 per cent of Fortune 500 companies led by Black chief executives, the need to tackle racial under-representation in business is urgent and obvious," WEF Managing Director Saadia Zahidi said.
The founding members of the coalition also include AP Moller-Maersk, AlixPartners, AstraZeneca, BlackRock, Bloomberg, Boston Consulting Group, Bridgewater Associates, Centene, Cisco, Cognizant, Dentsu International, Deutsche Bank, EY, H&M, Henry Schein, HP and IKEA.
Other members are Jacobs Engineering Group, Jefferson Health, Johnson & Johnson, Kaiser Permanente, Kearney, LinkedIn, ManpowerGroup, Mastercard, Mayo Clinic, McKinsey, Nestle, PayPal, Procter & Gamble, PwC, Salesforce, SAP, Standard Chartered Bank, Coca-Cola, Depository Trust & Clearing (DTCC), Thermo Fisher Scientific, Uber, Unilever, UPS and Willis Towers Watson.
The WEF said the COVID-19 pandemic continues to widen inequalities, with disproportionate repercussions for disadvantaged groups and minorities.
At the ongoing summit global leaders will discuss what policies, practices and partnerships are needed to embed equity and inclusion into our economic systems.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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