Black Caucus issues new guidelines for DEI policies and urges firms to help reduce racial wealth gap

abcnews.go.com:

The Congressional Black Caucus has issued new guidelines for corporations to use in adopting their diversity, equity and inclusion policies

WASHINGTON — Corporate policies meant to advance diversity and inclusion in the workplace are legal and should be expanded to promote broad economic prosperity and reduce racial wealth inequities, according to a new report by the Congressional Black Caucus.

The report released Monday offers guidelines to corporations on the best practices to adopt to advance diversity, equity and inclusion policies in the workplace and calls on companies to recommit to advance racial justice in the workplace. The document also includes a roadmap for advancing wealth creation in Black communities and closing the racial wealth gap.

“In the wake of the death of George Floyd, corporations pledged $50 billion to racial equity and strengthening DEI policies,” said Rep. Steven Horsford, D-Nev., chair of the Congressional Black Caucus, in an interview. “DEI is now under attack, but the response from corporate America has been overwhelming.”

The findings follow a December open letter the caucus issued that called on corporations to “reaffirm their commitments to DEI" and work with the CBC to fulfill pledges on racial and economic inequality.

The study is the result of the ensuing monthslong dialogue between the caucus and nearly half of Fortune 500 companies, as well as academics and business analysts, to develop guidelines that promote DEI and Black economic mobility in an increasingly fraught political and legal environment. It cited corporations facing a backlash to such policies from conservative activists and lawmakers.

Horsford condemned “far right actors who are attempting to bully corporate America”