More CEOs have spoken out about racism this week than in the past decade

Along with the wails of those grieving George Floyd, and the smell of tear gas in American cities as thousands upon thousands of peaceful protesters in all 50 states say enough is enough, change is in the air in corporate C-suites.

More U.S. companies have spoken out on the topic of racism in America this past week than in the past decade.

During our annual company conference, 3BL Forum: Brands Taking Stands, in 2018 and 2019, the number of large, multinational companies talking about race relations could be counted on a single hand.  PricewaterhouseCoopers chief Tim Ryan and Procter & Gamble CEO David Taylor spearheaded a consortium of more than 900 leaders who signed a pledge to double down on diversity and inclusion. P&G, the world’s largest advertiser, produced an emotional video, The Talk.  

But an examination of the daily news feed of content 3BL Media distributes on behalf of brands focused on environmental, social and governance (ESG) issues shows that discussions about race largely stopped there, with the exception of Black History Month.

Reticence to talk about race as a high-priority business issue was erased this week. Outrage over the killing of Floyd at the knee of Minneapolis police, amid the COVID-19 pandemic, record unemployment and bitter political division, unlocked a torrent of corporate statements condemning racism and urging systemic change.  Both B2B and B2C companies are chiming in, and some are accompanying their words with seven-figure donations to social justice organizations. Statements, pledges and donations are a start, but much more is required. 

Corporate Activism Buoyed by Public Sentiment

The rising volume of corporate activism on #BlackLivesMatter comes as a majority of Americans are convinced that law enforcement officials treat blacks harsher than whites, according to new research from Monmouth University. 

Polling of 807 American adults that took place May 28 to June 1 showed 57 percent say that police officers facing a difficult or dangerous situation are more likely to use excessive force if the culprit is black, compared to 33 percent who say the police are just as likely to use excessive force against black and white culprits in the same type of situation. 

A prior Monmouth poll of registered voters taken after the police shooting of Alton Sterling in Louisiana in July 2016 found just 34 percent said blacks were more likely to be subject to excessive force while 52 percent said they were just as likely as whites. In December 2014, after a grand jury declined to indict a New York City police officer in the chokehold death of Eric Garner, the results were 33 percent  more likely and 58 percent just as likely.

And, we have seen the disproportionate impact of COVID-19 on minorities as over 40 million Americans are out of work. We must add the call for economic justice and a living wage.

Among the brands issuing statements in recent days:

• VF Corporation -- the apparel holding company that owns Timberland, The North Face, Dickies and Vans -- issued a statement titled, Racism Is Another Virus to Eradicate. 
• Ben & Jerry's issued a statement calling Floyd's killing the result of "inhumane police brutality that is perpetuated by a culture of white supremacy." "What happened to George Floyd was not the result of a bad apple; it was the predictable consequence of a racist and prejudiced system and culture that has treated Black bodies as the enemy from the beginning," wrote Ben & Jerry's.
• Johnson & Johnson CEO Alex Gorsky, whose organization has been focused on a COVID-19 vaccine candidate, penned a communication to his 135,000 employees, including a father who drives behind his teenage daughter anytime she goes jogging because he fears for her safety. Gorsky said the personal story from that colleague "landed like a punch to the gut."
• Intel CEO Bob Swan issued a statement saying, "The Sidelines Are Not an Option" and pledging $1million to address social justice and racism.
• Disney pledged $5 million to the NAACP and other nonprofit organizations supporting equality justice.  “The killing of George Floyd has forced our nation to once again confront the long history of injustice that black people in America have suffered, and it is critical that we stand together, speak out and do everything in our power to ensure that acts of racism and violence are never tolerated,” said Disney CEO Bob Chapek.
• The C-suite at FedEx condemned racism in a letter sent to all team members and leadership. "You have our commitment that at FedEx, we won’t rest in our pursuit of a world where everyone is treated equally and given the respect they deserve," wrote Chairman and CEO Frederick Smith and President and COO Raj Subramaniam.
• David Gibbs, who leads Yum! Brands, posted a Call for Unity. "As we move forward, Yum! Brands will invest significantly more time, talent and resources to be a greater force for positive change and equality for frontline restaurant employees and in the communities where we operate alongside our franchisees. I take heart in knowing that there is more that unites us than divides us and that — through listening, understanding and acting meaningfully — we can and we must come together around the world to heal the wounds of inequality. Let us all resolve to do just that," wrote Gibbs.
• Fifth Third Bancorp CEO Greg Carmichael vowed to work with employees to drive change. "For years, our employees have demonstrated an unwavering commitment to serving and uplifting diverse individuals, families and communities who have faced long-standing challenges. However, we can and must do more."

This week, the tone from corporate leaders on the topic of race changed. To monitor this issue, I invite you to sign up to receive the 3BL Media News Alert here and TriplePundit’s weekly  Brands Taking Stands newsletter.