Corporate Values Do Differ: The Range of Responses to BLM
How companies responded to the killing of George Floyd and the Black Lives Matter movement during the summer and fall of 2020 showed clearly that corporate values do differ. Even in the veiled statements written by corporate public relations departments, one can tell that some firms are genuinely committed to racial justice and others are not.
With the help of their members, mostly corporate community relations officials, researchers at the Boston College Center for Corporate Citizenship have compiled a file of raw data on corporate actions this year regarding race. See here. Whether any would meet Ibram X. Kendi’s call for a vigorous anti-racist response is questionable, but some responses are more genuine than others.
Here is my description of those responses, from minimal lip service to advocacy for police reform and even reparations. The majority of companies seem to be in the first three categories.
Minimal Lip Service: Realizing the firm needed to say something, some statements were general endorsements of equal opportunity, perhaps to diversity in their own organizations. These statements were silent on racial justice in the broader society.
Tepid Advocacy for Racial Justice: Other corporate statements specifically opposed “racism.” A few mentioned Black Lives Matter and solidarity with the Black community, but typically did not commit to action steps.
Philanthropy Warmed Over: Many statements highlighted what I would describe as token or pre-existing philanthropic commitments. Some banks pointed to their community lending programs already required under banking legislation.
Internal Reckoning and Reform: Some companies used this moment to announce significant new efforts to expand their own commitment to diversity, to racial balance in their own companies. To the extent that these companies follow through, this could be significant. The best statements admitted institutionalized bias in the past.
Advocacy for Racial Justice in Society: A few companies specifically condemned the killing of George Floyd and other victims. Even fewer called specifically for police reform and a ban on certain police techniques such as choke holds. The best announced significant involvements in racial justice initiatives, accepting the principle that the company had to be involved in changing the racist society.
Significant Philanthropy for Racial Justice: A few companies announced what appear to be significant new philanthropic initiatives dedicated to police reform and economic development for people of color. If they follow through, some of these will be significant.
Advocacy of Reparations: No examples were provided for this category, but moved by analyses such as presented in The Color of Law, a few individual executives have expressed support for some form of reparations, perhaps in the form of dramatic new investment in education, housing and economic development for people of color. None, to my knowledge, have endorsed reparations on behalf of their company.
How does your company rate?