WEF’s “Partnering for Racial Justice in Business” Initiative

The World Economic Forum (WEF) has announced a new initiative named “Partnering for Racial Justice in Business”. Two Indian firms have also joined this WEF initiative.

Key Points

  • WEF has launched “Partnering for Racial Justice in Business” with an aim to end racism in the workplace.
  • WEF has announced this initiative in the Davos Agenda Summit 2021.
  • Under the initiative, the member organizations have to make a commitment and build an equitable workplace for professionals from racial and ethnic groups.
  • The members are required to put up a long-term strategy to end racism at the workplace completely and become an anti-racist organization.
  • The founding members of this coalition (to end racism) include 48 organizations from 13 industries.
  • Some of the founding members are- Google, Cisco, HP, Bloomberg, Microsoft, Cognizant, Deutsche Bank, AlixPartners, EY, AP Moller-Maersk, AstraZeneca, Boston Consulting Group, Centene,  Bridgewater Associates, Henry Schein, Dentsu International,  H&M, BlackRock, and IKEA.
  • These founding members represent more than 5.5 million employees worldwide.
  • Indian technology services companies Tata Consultancy Services and Infosys have also joined this coalition.

Davos Agenda Summit 2021

The online Davos Agenda Summit 2021 is being hosted by WEF from January 25 to 29, 2021. The summit is being held virtually due to the pandemic. A physical meeting will be held in May 2021 in Singapore.