Bringing transformative racial equity standards to life
The latest step in this, one of the most ambitious and visionary efforts to date, is connecting the incredible power and influence of the US private sector, to the essential work of building an equitable and just future, where everyone can participate, prosper, and reach their full potential.
“Imagine a future free from racial and economic inequity - where all people enjoy a dignified standard of living for themselves and their families, build generational wealth, live in healthy communities of opportunity, participate in fair democratic processes, and access what they need to thrive as human beings” - The Corporate Racial Equity Alliance.
This important work is creating the framework for the first ever Corporate Performance Standards On Racial & Economic Equity - building on the 2021 CEO Blueprint for Racial Equity.
The 2021 blueprint offered business leaders actionable guidance on how to move from incremental improvement on racial equity, to enterprise-wide transformation and lasting change within the company, in communities, and across society.
It was published alongside the launch of the Corporate Racial Equity Alliance (CRE Alliance), laying the foundation for a multi-year effort to develop rigorous corporate performance standards on racial and economic equity, focused first on the US, and developed with an eye on the global context.
JUST Capital, PolicyLink, and FSG launched the CRE Alliance in August 2021, believing that business can, and must, be a force for good. Through collective efforts – and with support from partners like Virgin Unite – they are striving to build an economy that works for all Americans, helping companies improve how they serve their workers, customers, communities, shareholders, and the environment.
A visionary effort needs a serious plan, and this latest milestone report lays it out - offering an overview of the development approach and proposed standards methodology. The aim is to close a distinct gap in the landscape of corporate standards and give corporate leaders and investors unequivocal guidance on what equity looks like in action, plus what the private sector must do to achieve it.
The standards are being designed to help deliver on t10 equity outcomes, reflecting the shifts needed to realise a just and equitable future where everyone can participate, prosper, and reach their full potential.
To get to such a future, the CRE Alliance has identified 18 levers that companies have a duty to pull within their spheres of influence – inside their company, industry, community, and society - to help realise the 10 equity outcomes.
The alliance is now inviting the public to join them in shaping the corporate performance standards on racial and economic equity, believing that understanding and incorporating the perspectives of all stakeholders (especially those whom the standards aim to benefit the most, and others whom the standards will affect directly) will greatly strengthen the work.
The public comment period for the scope and structure of the standards runs through until June 3, 2022. To lend your voice and participate, please read the report and fill out the public survey online or join one of the upcoming stakeholder roundtables.
Please support the CRE Alliance on this journey, for so much is possible when we bring together our greatest strengths to address our most pressing needs.