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Published: 17 January 2023

Prioritizing Racial and Ethnic Equity in Business: Towards a Common Framework

Diversity, equity and inclusion (DEI) practice and programming have been increasingly mainstreamed into the corporate space for the last 60 years. In the last decade, the public and shareholders have increasingly called for greater transparency on actions and outcomes regarding DEI. However, the lack of coherent standards around data collection and reporting makes it challenging for businesses to assess gaps and track progress, especially on issues related to race and ethnicity.

Diversity, equity and inclusion (DEI) practice and programming have been increasingly mainstreamed into the corporate space for the last 60 years. In the last decade, the public and shareholders have increasingly called for greater transparency on actions and outcomes regarding DEI. However, the lack of coherent standards around data collection and reporting makes it challenging for businesses to assess gaps and track progress, especially on issues related to race and ethnicity.

The Global Racial & Ethnic Equity Framework and accompanying briefing paper build on work of the World Economic Forum’s Partnering for Racial Justice in Business Initiative — a global, cross-industry group committed to advancing racial and ethnic equity bringing together 50+ companies.

The briefing paper and framework provide context on current challenges and opportunities, and identify pathways by which corporations can prioritize racial and ethnic equity through a whole-of-business approach. It originates from the World Economic Forum’s Centre for the New Economy and Society, which is focused on shaping prosperous, resilient and equitable economies and societies that create opportunity for all.

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