October 26, 2020
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I know it’s a truism, but it also happens to be true: What gets measured gets managed. That’s why Fortune and Refinitiv are teaming up to urge companies to take the first step toward achieving full racial and ethnic diversity and inclusion in the workplace: Measure Up.
Since the killing of George Floyd, we’ve seen an outpouring of concern by corporate leaders about diversity, equity and inclusion. In our recent CEO Survey, conducted in partnership with Deloitte, 96% of CEOs said DEI had become a strategic priority for them.
But here’s the thing: the vast majority of companies don’t publicly report metrics on how they are executing on their DEI commitments. Measure Up is an effort to change that. We will challenge companies to report these critical metrics, through Refinitiv’s environmental, social and corporate governance data systems. And we will include that data as part of our Fortune 500 list, and also next year publish a new list identifying the Most Progressive Companies in Racial Inclusion. We will work with Refinitiv to provide data-driven insights, and to host conversations with corporate leaders on critical issues related to the challenge.
Refinitiv CEO David Craig said he believes “the corporate world overwhelmingly wants to see change and understands how vital diversity is in building successful and sustainable companies. However, efforts to tackle minority under-representation in the workplace will fall flat unless companies first have an accurate picture of their racial composition.” Measure Up will help the corporate world “fulfill its promises and respond to the cries for change that have only grown louder in the wake of the murder of George Floyd.”
Craig and Fortune’s Ellen McGirt will unveil the new partnership later today at our CEO Initiative, which I wrote about Friday. It’s a busy day for us: After the CEO Initiative ends, we will move right into our virtual Fortune Global Forum. I’ll be interviewing CEO Larry Culp of one-time-giant General Electric about his efforts to turn the company around in the midst of a pandemic. (Send me your questions!) Other CEOs on the virtual stage at FGF tomorrow, in order of appearance: Honeywell CEO Darius Adamczyk, Synchrony CEO Margaret Keane, Marriott CEO Arne Sorenson, Ariel Investments Co-CEO Mellody Hobson, Target CEO Brian Cornell, Natura CEO Roberto Marques, Carbon Engineering CEO Steve Oldham, Paypal CEO Dan Schulman, Chobani CEO Hamdi Ulukaya, Land O’Lakes CEO Beth Ford, HP CEO Enrique Lores, CVS CEO Larry Merlo, Slack CEO Stewart Butterfield, ADM CEO Juan Luciano, Gap CEO Sonia Syngal, Schneider Electric CEO Jean-Pascal Tricoire, Fosun CEO Guo Guangchang, AirAsia.com CEO Karen Chan, Grab CEO Anthony Tan, CanSino CEO Yu Xuefeng, and Sinovation Ventures CEO Kai-Fu Lee.
Long day. More news below.