The Congressional Black Caucus (CBC) has released a comprehensive report advocating for the expansion of diversity, equity, and inclusion (DEI) policies within corporations. The report outlines best practices for advancing DEI efforts in the workplace and addresses strategies to reduce racial wealth disparities, promoting broad economic prosperity.
Released on Monday, the report emphasizes the importance of DEI policies in light of recent legal and political challenges. Rep. Steven Horsford, D-Nev., chair of the CBC, highlighted the context of the report, noting that corporate pledges of $50 billion towards racial equity following the death of George Floyd have faced increasing scrutiny. Despite this, Horsford commended corporate responses and called for renewed commitment to these initiatives.
The report, titled “What Good Looks Like: A Corporate Accountability Report on Diversity, Equity and Inclusion,” is the result of extensive discussions between the CBC, nearly half of Fortune 500 companies, academics, and business analysts. It provides a roadmap for effective DEI policies and aims to address backlash from conservative activists and lawmakers.
Horsford criticized efforts by “far right actors” to pressure companies into abandoning DEI policies. He emphasized that the Supreme Court’s June decision to overturn affirmative action in college admissions does not affect corporate DEI practices, which remain legal and constitutional.
The report details twelve areas where companies can improve DEI efforts, including workplace culture, data disaggregation, talent opportunities, retention rates, pay equity, and procurement policies. It also encourages companies to work collaboratively on legislative measures to ensure ongoing accountability and support for DEI values.
In response to the Supreme Court ruling and subsequent threats from Republican attorneys general, some companies have scaled back their DEI initiatives. However, the report underscores that DEI policies are essential for fostering inclusive workplaces and addressing racial inequities.
The study also highlights the involvement of the CBC in the report’s development, with input from prominent members like House Minority Leader Hakeem Jeffries, D-N.Y. The CBC, known for its commitment to advancing Black Americans’ interests, particularly in areas such as voting rights and economic mobility, played a key role in shaping the report’s guidelines.
Overall, the report calls for corporations to uphold their DEI commitments and take actionable steps to address racial inequalities, asserting that it is no longer acceptable to make promises without delivering tangible results.
