Congresswoman Barbara Lee Applauds CBC’s Report on Corporate Accountability
New report finds strong support among Fortune 500 companies for workforce diversity, equity, and inclusion despite ongoing attacks.
WASHINGTON — Congresswoman Barbara Lee (CA-12) applauded the release of the Congressional Black Caucus’ (CBC) corporate accountability report “What Good Looks Like”: A Corporate Accountability Report on Diversity, Equity, and Inclusion, a first-of-its-kind report to hold Fortune 500 companies — across all sectors — accountable to their diversity, equity, and inclusion commitments and racial equity investments post-George Floyd.
"This report underscores the continued importance of diversity, equity, inclusion, and accountability practices across all sectors. I applaud the business leaders who upheld their commitment to inclusion despite attacks from right-wing extremists.” said Congresswoman Lee. "It is increasingly crucial that corporations have diverse representation in board rooms across the country. I look forward to continuing my work with my CBC colleagues and other stakeholders to ensure that our corporations and college campuses reflect the diversity of our country.”
Research from institutions such as the Black Economic Alliance Foundation show that 78 percent of Americans agree that corporate America should reflect the racial diversity of the American population. Similarly, research from McKinsey & Company show that companies with racially diverse executive teams outperform their peers in profitability by 39 percent.
The report comes nearly 10 months after the CBC issued its corporate accountability letter in December 2023 in response to the ongoing attacks on diversity initiatives in the private sector. The letter urged corporate America, particularly those in the Fortune 500 who made public pledges to diversity and racial equity post-George Floyd, to stand firm in their commitments, and to update congressional members on the progress of their commitments.