A Racial Equity Audit Would Provide an Independent, . The Proposal asks Citigroup to conduct a "racial equity audit." The text of the resolution reads: RESOLVED: that shareholders of Citigroup Inc. ("Citi") urge the Board of Directors to oversee a racial equity audit analyzing Citi's adverse impacts on nonwhite stakeholders and communities of color. Rich IPO paydays for Airbnb, DoorDash CEOs lead influential advisory firms to target execs at their first shareholder meetings Last Updated: June 12, 2021 at 3:29 p.m. Rich IPO paydays for Airbnb, DoorDash CEOs lead ... Racial equity audits have seen results. Racial equity audits are the chief service offered by "diversity, equity, and inclusion" consultants, a cottage industry connected by a revolving door of Democratic staffers and funded by liberal . A year after the racial justice protests and the murder of George Floyd, we are calling on corporations to share what they have done to make good on their public statements to work toward racial equity for Black people. Color of Change is continuing to hold corporations accountable for hypocritical activism and demanding they move #BeyondTheStatement and act now. Shareholders target 'white man's world' with record ... Airbnb, for instance, announced a new policy in 2016 following an audit that would require the company to help any guests who report discrimination find another place to stay. The Level Playing Field Institute is devoted to building greater diversity by improving civility, fairness and opportunity in workplaces. Color Of Change has witnessed firsthand the positive outcomes of racial equity audits, such as when Airbnb collaborated with us. The civil rights group Color of Change launched a petition last week to demand an independent racial equity audit of Google, saying an investigation by The Markup had revealed "heinous" and "unacceptable" practices by the company. From MarketWatch: Citigroup Inc., which had urged its shareholders to reject a resolution calling for a racial-equity audit earlier this year, announced Friday that it has reversed course. The world's largest money manager plans to undergo an independent racial audit of its operations, following a request from a shareholder. PDF The Rationale for and Key Elements of a Business Civil ... Increase Transparency by conducting a racial equity audit, . Citi stated its intention to "becoming an antiracist institution" and recruited Covington & Burling for a racial equity audit. I believe racial equity audits can be a critical tool for companies to address the risks and opportunities posed by civil rights, equity, diversity and inclusion-related issues. In 2018, Color Of Change successfully pressured Facebook into agreeing to its first-ever . In 2016, Airbnb was the first company to do a third-party racial audit after people of color said they were discriminated against as guests. Hear from: • Thomas DiNapoli, New York State Comptroller who will describe the importance of Amazon conducting a racial equity audit. BlackRock plans racial audit, in break with Wall Street ... In recent years, Color of Change and other civil rights groups have successfully pushed for independent racial equity audits at Facebook and Airbnb. Google pressured on racial equity audit after AI ethics ... Alphabet shareholder the Nathan Cummings Foundation this week filed a shareholder resolution seeking an independent racial equity audit that looks at the impact the company's products have on Black and Indigenous communities and other people of color. Amazon and Facebook have also hired former Democratic officials for prominent positions. Catalog; For You; Pittsburgh Post-Gazette. A racial equity audit is the first step to safeguard against further harm and it's also the smart thing to do. where the board recommends that shareholders vote against the racial equity audit proposal. A growing number of major public companies and institutional investors are recognizing the benefits of conducting racial equity audits.9 Companies like Facebook, Airbnb, Starbucks, and BlackRock have published or committed to publish audits.10 Shareholder proposals on racial equity audits are receiving significant support, including 44% . Airbnb, Facebook, and Starbucks all conducted audits in the last three years. Airbnb Inc. and Starbucks Corp. conducted such studies several years ago, before the police killing of George Floyd in Minneapolis put heightened focus on racial inequality. RELATED: Racial equity audits are rising. 9 we have seen many companies use this critical tool, including Facebook, Starbucks, and Airbnb. Companies including Airbnb Inc. and Facebook Inc. have taken similar steps in . Starbucks Corp. followed with an audit by former . Conducted in alignment with Laura's report, the civil rights audit is a powerful tool toward rebuilding trust with workers and communities of color. In letter to partners , ceo Kevin Johnson outlined new commitments the company will make to elevate inclusion, diversity, and equity on behalf of partners (employees) and the . . In particular, by conducting matched-pair audit testing of large-scale hosts who rent out many units, Airbnb could decrease the burden on victims of discrimination both to know that they have been victimized and to navigate the . Airbnb, Facebook, and Starbucks have all performed audits in the past three years. After the audit at Facebook, the company hired . The pressure campaigns on major companies have already paid off. The pressure campaigns on major companies have already paid off. Murphy is a pioneer in the business of corporate racial equity audits, having conducted one for Airbnb back in 2016. Racial equity audits are the chief service offered by "diversity, equity, and inclusion" consultants, a cottage industry connected by a revolving door of Democrat staffers and funded by liberal donors. During the most recent proxy season, investors . . 2 A growing number of major public companies and institutional investors are recognizing the benefits of conducting racial equity audits.8 In the food and beverage sector, Starbucks published a Civil Rights Assessment in 2021 following controversies around implicit racial bias.9 Similar assessments have also been published by Facebook and Airbnb.10 Shareholder proposals on racial equity audits She also conducted Facebook's audit and previously spent 17 years leading the ACLU's Washington Legislative Office. Tyson Foods Inc., one of the meatpackers that came under fire during the height of the pandemic for its treatment of a largely minority workforce, will commission a detailed study to determine whether its practices contribute to . In 2016, Airbnb was the first company to do a third-party racial audit after . SEIU Master Trust filed a shareholder resolution in 2021 at State Street requesting that they conduct a racial equity audit. Some, including Starbucks, Facebook and AirBnB, have already commissioned racial equity audits. She also conducted Facebook's audit and previously spent 17 years leading the . Goldman, Citi Stave Off Investor Calls for Racial Audits. The audits are important to help hold the companies . Racial Equity Audits on the Rise Pressure mounts for independent reviews for discrimination. Airbnb has consistently engaged in fighting bias and discrimination on its platform since 2016, after its first civil rights audit, authored by Laura Murphy, former Director of the American Civil Liberties Union's Washington Legislative Office and President of Laura Murphy & Associates. BlackRock Inc. is breaking ranks with peers on Wall Street by doing a deep dive into its business to see how it may have contributed to racial inequities in the financial system. "Our work is nowhere near done, but the civil rights audit was a critical first step," Airbnb CEO Brian Chesky says in the framework released today. Amazon and Facebook have also hired former Democratic officials for prominent positions. Major corporatio ns, including Facebook and Airbnb, are increasingly turning to racial equity audits, which empower an outside expert steeped in debates around technology and racial inequalities . Tyson Foods has plans to commission a detailed study to determine if the company's practices contribute to racial inequities. Importance of Racial Equity Audits. Equity auditors have made a killing from school districts that pay handsomely for consultants to revamp curricula. As the result of the audits . After its audit, Airbnb asked its . A civil rights audit, with a deep focus on racial equity in line with Laura's robust recommendations, is the right starting place. The accountability strategy is a relatively novel one, but it's caught on fast. • Cyrus Mehri, founding partner of Mehri . Color of Change's push for Google to conduct a racial equity audit comes after successful demands for such audits at Facebook and Airbnb. From the report: "A civil rights audit is an independent, systemic examination of significant civil rights and racial equity issues that may exist in a company and provides a plan of action to address those issues in a thorough, deliberate, timely, and transparent manner. After its audit, Starbucks began requiring implicit bias training, setting corporate diversity goals, among other efforts in response to an incident that led to the wrongful arrests of two Black . After its audit, Airbnb asked its users to accept a nondiscrimination agreement to help prevent unfairness to people of color on its platform. 8 And recently, BlackRock and Morgan Stanley announced they would be conducting such an audit. In recent years, Color of Change and other civil rights groups have successfully pushed for independent racial equity audits at Facebook and Airbnb Inc. In recent years, Color of Change and other civil rights groups have successfully pushed for independent racial equity audits at Facebook and Airbnb. . Here's what the trend could mean for your business. Through Murphy's direct input and guidance from civil . Initial calls for racial audits at Wall Street banks and other corporations were rejected by shareholders, but support was high enough that companies are likely to face increased pressure to agree . Auditors with civil rights expertise will assess a company's business . "By agreeing to a third-party racial equity audit, Citi is . The proposal is emblematic of new requests from shareholders calling for more transparency on tech companies' impact on society and workers that For example, Color Of Change pushed Airbnb to undergo a civil rights audit, and later partnered with the company on Project Lighthouse to root out the presence of discrimination on its app. The Board's Oversight of Racial and Ethnic Diversity, Equity, and Inclusion 3 rr-0238-107009-Racial and Ethnic Diversity.indd 3 07-Jul-21 1:42:26 PM A racial equity audit would follow the model of other large companies, where such reviews have already been conducted, including Facebook, Starbucks, and Airbnb. Racial equity audits are the chief service offered by "diversity, equity, and inclusion" consultants, a cottage industry connected by a revolving door of Democratic staffers and funded by liberal donors. Airbnb and Starbucks conducted such studies several years ago, before the police killing of George Floyd in Minneapolis put heightened focus on racial inequality. Color of Change, which previously partnered with Airbnb to consult on its audit, recently launched a petition calling for Google to conduct a racial equity audit after a series of events . Tyson is at least the third major U.S. company to say this year that it will conduct an audit after racial-justice protests across the U.S. in 2020. Companies like Starbucks and Airbnb have incorporated the audit into their regular risk oversight work either through formal reports or continued relationships with their auditors and stakeholders, . "If other companies invest in building similar race-blind algorithms, that may even the playing field for users," Zhang says . Tyson is at least the third major U.S. company to say this year that it will conduct an audit after racial-justice protests across the U.S. in 2020. (An Rong Xu for . An independent group will carry out an equity audit of the nation's . Today Starbucks shared next steps it's taking to advance racial and social equity as part of its ongoing journey to create a welcoming and inclusive Third Place. April 27, 2021, 6:00 AM EDT Color of Change blasts company over bias, hate on YouTube Color of Change, which previously partnered with Airbnb to consult on its audit, recently launched a petition calling for Google to conduct a racial equity audit after a series of events . Airbnb Inc. and Starbucks Corp. conducted such studies several years ago, before the police killing of George Floyd in Minneapolis put heightened focus on racial inequality. . The bank said the audit will focus on its 2020 commitment to dedicate $1 billion toward initiatives it hoped would help close the persistent racial wealth gap in the U.S., where the average net . Citi stated its intention to "becoming an antiracist institution" and recruited Covington & Burling for a racial equity audit. The group has previously urged Google to conduct a racial-equity audit. Racial equity audits of corporations originated within the racial justice movement, with Color of Change successfully calling for and working with AirBnB to undertake an audit, led by an external expert and including extensive consultations with civil rights organizations, which translated to tangible improvements in Airbnb's business practices. In April, Color Of Change demanded Google undergo a racial equity audit following years of racial injustice and systemic discrimination. A report out today from Laura Murphy explores why businesses should undertake civil rights audits — and what those audits should look like. ET First Published: June 10 . The . Airbnb, Facebook, and Starbucks all conducted audits in the last three years. In 2016, Airbnb was the first company to do a third-party racial audit after people of color said they were discriminated against as guests. Airbnb supports /dev/color, a non-profit organization dedicated to advancing the careers of black software engineers through community support. PressReader. More than 25% of Bank of America Corp. 's shareholders supported a proposed racial-equity audit. Many boards are having heated debates on how to promote racial equality and equity. Starbucks Corp. followed with an audit by former Attorney General Eric Holder following a 2018 incident where employees at one of its locations called the police on two Black patrons who were waiting for a . Airbnb, Facebook, and . BlackRock is conducting one, and Citi announced its commitment to "becoming an antiracist institution" and retained Covington & Burling for a racial equity audit after pressure from SOC Investment . LEXINGTON, Kentucky — The Presbyterian Committee on Mission Responsibility Through Investment (MRTI) is part of an investors group that successfully persuaded Tyson Foods to conduct a racial equity audit. Shareholders called for one at the company's investor meeting earlier this year, but the bank (like its peers) told . Airbnb, Facebook, and Starbucks all conducted audits in the last three years. the nonprofit organization that lobbies for racial justice and pressed Airbnb and Facebook to conduct . As corporate America does its own soul searching about its role in perpetuating racial disparities, veteran civil rights leader and policy strategist Laura Murphy has pioneered a useful tool: the corporate civil rights audit. | HOME < /a > the racial-justice organization color of Change has given... First corporation to perform a third-party racial equity overhaul... < /a > the pressure campaigns on major companies already! 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