Prioritizing Racial and Ethnic Equity in Business

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. This report aims to provide context on current challenges and opportunities, and to 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.