George Floyd's death was a wake-up call for Corporate America. Here's what has — and hasn't — changed
May 25, 2021. Summarized by summa-bot.
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MINNEAPOLIS, MN - MARCH 31: A mural of George Floyd is shown in the intersection of 38th St & Chicago Ave on March 31, 2021 in Minneapolis, Minnesota. Community members continue preparations during the third day in the trial of former Minneapolis police officer Derek Chauvin, who is charged with multiple counts of murder in the death of George Floyd. (Photo by Brandon Bell/Getty Images)
The agonizing, racially-charged moment was eventually seen by millions of people around the world after it was caught on cell phone video. The outpouring of rage and empathy that followed shook the foundations of Corporate America in an unprecedented way. But DEI and racial equity experts say it's far too early to say whether the business world's pledged commitments to lasting social change will stand the test of time.
The outpouring of rage and empathy that followed shook the foundations of Corporate America in unprecedented ways, but experts say it's far too early to say whether the business world's pledged commitments to lasting social change will stand the test of time.
A recent analysis from consulting firm Creative Investment Research found that only $250 million of the estimated $50 billion US companies have pledged to racial equity causes within the past year has so far been spent or assigned to a specific program.
US companies added 82 Latinos to their boards between January and March, a 331% year-over-year increase from the same span in 2020, according to data unveiled in April by the Latino Corporate Directors Association.
One-hundred forty-five S&P 500 companies have added at least one Black director to their board since last June, but the number of Latino board members has quadrupled since a year ago, according to Bloomberg.