Indicates whether the organization implements a strategy to set targets, drive progress toward, and report on racial equity goals.
Organizations should footnote all assumptions used, including locally relevant definitions of historically marginalized groups due to race and/or ethnicity.
This metric is intended to capture whether the organization has a formal, stated strategy for setting goals (and associated time-bound targets), progressing toward, and reporting on racial equity.
Beyond indicating whether such a strategy exists, organizations are strongly encouraged to footnote details on their strategy and staff members responsible for implementation. Organizations should carefully consider which staff members and stakeholders are involved in crafting their strategy and how frequently they will update that strategy.
For further guidance on what to include in a racial equity strategy, see the Resources tab. Examples of considerations include: setting and publicly disclosing targets around capital deployed to companies or communities led by individuals from groups historically marginalized due to race and/or ethnicity; adoption of new hiring, retention, and advancement practices to combat implicit racial bias and address structural barriers; and grievance mechanisms. For further details on equitable employment that can be applied to investor and investee organizations, see the IRIS+ Quality Jobs theme (iris.thegiin.org).
The organization's racial equity strategy should be informed by the outcome of periodic racial equity audits.
This metric aligns with the Corporate Racial Equity Alliance’s (https://corporateracialequityalliance.org/) Investor Blueprint for Racial Equity and CEO Blueprint for Racial Equity (https://corporateracialequityalliance.org/2021-blueprint).
June 2022 - IRIS v5.3 Released (current version)
New metric. Racial Equity Strategy (ID9449) was developed via the IRIS+ Racial Equity Expert Subgroup.
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