HIGHLIGHTS - Racial Equity: Moving Companies from Promise to Action
How do companies address racial equity and expand their role in driving impact within communities?
To accelerate the progress and impact of business efforts to address racial equity, Association of Corporate Citizenship Professionals (ACCP), Chief Executives for Corporate Purpose (CECP), The Council on Foundations, and Points of Light collaborated to host a two-day conference in December of 2020 titled, “Racial Equity: Moving Companies from Promise to Action”. Gathering the foremost leaders in the field, the conference provided case studies on peer companies that are pushing the needle forward, conversations with voices from the movement, and actions companies can take.
Drawing from the conference as a moment to listen, learn, take action, and provide accountability, the summary seeks to keep up the momentum of progress by highlighting key takeaways from the event, as well as 10 actions companies can take to advance their progress on racial equity. ACCP, CECP, Council on Foundations, and Points of Light thank Bank of America, KMPG, Charles Schwab, and USAA for their support of “Racial Equity: Moving Companies from Promise to Action.”
How will your company address racial inequities in your community? What one action can your company take to make a difference today?
Please see recordings of the sessions below.
Background
When the Covid-19 pandemic hit in the spring of 2020, Association of Corporate Citizenship Professionals (ACCP), Chief Executives for Corporate Purpose (CECP), Council on Foundations, and Points of Light came together to support leaders of corporate purpose in responding to the compounding health and economic crises.
Throughout the Corporate Peer Discussion series co-hosted by the four partner organizations, many companies, emphasizing the disproportionate impact of Covid-19 on communities of color, considered how to redirect their strategies to focus on equitable outcomes. The urgency of the moment was amplified after the murder of George Floyd and the subsequent national movement for racial justice.
The virtual event, “Racial Equity: Moving Companies from Promise to Action” on Dec. 1-2, is a continuation of the partnership and Corporate Peer Discussions and intends to support and equip companies with the knowledge and insights to progress on their racial equity journeys.
A Movement vs a Moment
In response to the national movement for racial justice, many companies issued statements of solidarity and made commitments to address racism internally and externally. However, sustainable change requires leadership over the long-term and companies have an important role to play.
Update Your DE&I Playbook: Changing Systems to Address Racism
Dismantling structural racism within organizations requires culture change. The authors of the Harvard Business Review article, “Update your DE&I Playbook” will discuss a four-component model for interrupting bias and changing the structures that reinforce racism.
Role of Companies in Addressing Racial Inequity
Darren Walker, President of the Ford Foundation, has been outspoken about concrete actions companies can take to address racial injustice. In this conversation, he will discuss with a leading corporate CEO how these actions can be put into practice.
Awareness to Action: Partnering With and For Black and Latino Communities
As companies seek to uplift communities, there is an opportunity to adjust how they structure their work. In this session, attendees will hear from philanthropic leaders on investing in communities of color and how to collectively work together to address anti-Black racism for the long haul.
Building Trust & Authentic Engagement between Companies & Community
While companies may invest in communities with good intentions, real change occurs when they are able to build trust and create authentic engagement with the community. In this session, we will hear examples of this type of partnership in action.
Brands and Racial Justice in America: A Call for Systemic Change
Edelman’s special report on Brands and Racial Justice in America found that silence is not an option and that brands are expected to take a stand on racial injustice. Hear key takeaways and implications for companies.
The Internal Reckoning
To earn and keep the trust of employees and customers, companies must first set an example of equitable policies and inclusive culture within their own organization. A journey towards equity must acknowledge uncomfortable truths and identify challenges and opportunities. In this session, two companies will share lessons learned throughout history and apply them to today’s work.
Emerging Generations: Conversations Focusing on Purpose, Transparency, and Genuine Solutions
Hear what Millennials & GenZ see as the role of companies in acting upon their racial equity statements and commitments.
Equity is Everybody’s Business: Connecting Across Business Units
How does a company institutionalize equity practices across departments and in their products and investments? In this session, cross-functional leaders will identify practices, policies and strategies that drive equity.
Incorporating Equity into Grantmaking
In this session, private foundation leaders will share their approaches to advancing equity in grantmaking and practices to address systemic barriers in communities. In doing so, they will share lessons and recommendations to consider in cultivating equitable grant portfolios.
Accountability: Shifting Measurement and Evaluation
The journey from promise to action in racial equity requires a measure of progress for accountability. How do current forms of measurement need to change to reflect more equitable outcomes inside and outside of companies? Hear experts weigh in on what accountability looks like for businesses seeking to analyze their impact.
