How companies can accelerate racial justice in business

How companies can accelerate racial justice in business

The killing of George Floyd reignited a social justice movement, but progress on racial equity has been too slow and siloed.

A new World Economic Forum coalition brings together 48 multinational companies to drive systemic and sustainable change towards racial justice.

The coalition aims to eradicate racism in business across workplace, marketplace and the communities in which businesses operate.



The killing of George Floyd at the hands of police officers on May 25, 2020, caused a surge in anti-racist activism across the world. From Tokyo to Cape Town to Stockholm to Rio de Janeiro, Black Lives Matter protests advocating the basic principles of social justice - equity, rights and participation - have taken place in more than 60 countries.

The social unrest has also ignited the debate about the role and responsibility of business as trustees of society to accelerate social progress. Racism is manifested in current social, economic and political disenfranchisement of historically marginalized and underrepresented ethnic groups such as the lack of opportunities, lower socio-economic status, higher unemployment and the racial wealth gap.

Between Floyd's death and the end of October, about one-third of Fortune 1000 companies responded by making a public statement on or commitment