Developed by a diverse cross-sector committee,
the Standards provide clear guidance for credible,
independent audits that build stakeholder trust and advance
equity
OAKLAND,
Calif., July 25, 2024 /PRNewswire/ -- U.S.
corporations now have a robust tool to meaningfully examine bias
and discrimination risks across all aspects of the business with
the new Civil Rights Audit Standards. Born out of broad stakeholder
interest in corporations upholding and advancing equitable policies
and practices, the Standards are released today by an independent
committee, PolicyLink, a leading national research and action
institute, and CapEQ, an impact investing and advisory firm.
Today, at 11:30 a.m. ET,
PolicyLink and CapEQ will host a live webinar to introduce the
Standards, share how they connect to other leading efforts, and
preview how they will be implemented over time, including through a
civil rights auditor training program. Those interested in
attending the webinar live can register here. A recording will be
available following the event.
The Standards were developed by an independent Civil Rights
Audit Standards Committee, including civil rights experts,
investors, worker advocates, and business executives. PolicyLink is
serving as the Secretariat for the Standards, leading strategy and
managing administrative matters. CapEQ was tapped to architect and
bring the Standards to market — selecting key partners, experts,
and researchers, while also managing a pilot training program for
aspiring auditors to help build the ecosystem of qualified
independent auditors. Grounded in principles of nondiscrimination,
the Standards set a benchmark for consistency and credibility in
audits that help eradicate discrimination and ensure equal
opportunity for all people.
"These Standards fill a gap that has existed due to a lack of
standardized and objective frameworks for businesses to assess
their commitment to civil rights," said Farhana Khera, civil rights advisor, and the
lead drafter of these standards. "Using these standards,
companies will be able to demonstrate their commitment to civil
rights, foster trust among customers, employees, and investors,
while also managing legal and reputational risks."
The Standards set performance criteria across nine key aspects
of an audit: 1) Comprehensive Scope; 2) Independent, Qualified
Auditor; 3) Meaningful Engagement with Key Stakeholders; 4) Access
to Critical Information; 5) Rigor and Objectivity; 6) Transparency;
7) Timeliness; 8) Regular Frequency; and 9) Board Oversight and
Accountability.
"PolicyLink is honored to serve as the Secretariat for the Civil
Rights Audit Standards," said Mahlet
Getachew, Managing Director at PolicyLink and Civil Rights
Audit Standards Committee Member. "We are invested in the
long-term success of businesses that are dedicated to equity,
inclusion, and social responsibility and believe
performance-focused tools are needed to guide the way forward.
These Standards take the guesswork out of conducting a credible
audit and will win the trust of stakeholders."
"Civil rights audits can be a critical tool for companies to do
well by doing good," said Tynesia
Boyea-Robinson, President and CEO of CapEQ. "When they
incorporate these Standards, businesses can feel confident that
their audits will help them meet business goals while signaling
their values to customers and other key stakeholders."
The Standards are integrated within, and a core component of,
the Corporate Racial Equity Alliance's recently released
Business Standards for 21st Century Leadership, an initiative of
PolicyLink, FSG, and JUST Capital, which provide a
performance-focused, actionable roadmap to advance
nondiscrimination and socially responsible business practices—from
conducting audits in line with the Civil Rights Audit Standards to
setting and achieving meaningful goals across all business
functions.
For more information on the Standards, visit
https://www.policylink.org/civil-rights-audit-standards.
ABOUT POLICYLINK
PolicyLink is a national research and
action institute dedicated to advancing racial and economic equity
by Lifting Up What Works®. For over two decades,
PolicyLink has been dedicated to amplifying the expertise, wisdom,
and resilience of people of color and low-income communities to
make our social and economic systems work for all people. Learn
more at https://www.policylink.org/.
ABOUT CAPEQ
CapEQ is an Impact Investment &
Advisory Firm that helps investors and businesses achieve superior
financial returns through social impact. Our team is uniquely
positioned with a wealth of expertise, vision and experience, and
is led by President and CEO Tynesia
Boyea-Robinson. For more information, visit
capeqimpact.com and follow CapEQ on LinkedIn and X
(@CapEQimpact).
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SOURCE PolicyLink