WEF | Global companies are increasingly taking up their role as responsible trustees of society and investing in actions for racial and ethnic equity in the workplace – not as an option but as a business imperative.
The World Economic Forum has convened a coalition of global corporations and their C-suite leaders committed to building equitable and just workplaces for professionals with underrepresented racial and ethnic identities.
Partnering for Racial Justice in Business as a global initiative, launched today Monday 25 January, during The Davos Agenda 2021, is focused on eradicating all strands of racism in the workplace against professionals with underrepresented racial and ethnic identities.
Professionals of colour and minority ethnic backgrounds continue to face racial injustice and inequity in the workplace, and they have been severely underrepresented in leadership. There have only been 15 Black CEOs over the course of the 62 years of the Fortune 500’s existence, and currently only 1% of Fortune 500 CEOs are Black. Below the top level, Black employees form approximately only 4.7% of executive team members in the Fortune 100 and 6.7% of the 16.2 million managerial level jobs.
To drive systemic and sustainable change towards racial justice, this initiative has been designed to operationalize and coordinate commitments to eradicate racism in the workplace and set new global standards for racial equity in business. It also provides a platform for businesses to collectively advocate for inclusive policy change.
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