The Congressional Black Caucus (CBC) is now demanding that corporate America recommit itself to radical diversity, equity, and inclusion commitments, including $50 billion in investments.
The Hill has obtained a corporate accountability letter in which the CBC requests that companies provide an update on their investments in racial equity and collaborate with the caucus to develop legislative remedies that will aid in the reduction of the racial wealth gap.
In the wake of Floyd’s death in the summer of 2020, which was caused by a Minneapolis police officer kneeling on his neck for over nine minutes, racial justice demonstrations proliferated across the country, including the business sector.
The number of positions devoted to diversity, equity, and inclusion increased by 55%, as stated in a report published by the Society for Human Resource Management.
However, those positions are currently experiencing workforce reductions and terminations.
In order to create the appearance that they have increased efforts toward diversity, equity, and inclusion, corporations have reportedly engaged in performative actions, such as hosting sham interviews for diverse candidates, according to reports cited in the CBC’s letter.
Currently, the caucus is granting corporate America until January 31st to demonstrate its progress prior to issuing a report card that will provide an assessment of the status of corporations’ endeavors to engage, invest in, and advance Black employees.
[READ MORE: GOP Senator Claims That Biden Can’t be Impeached]