- 3 hours ago
Join Aaliyah Haqq for a conversation about defining the 's' in ESG.
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00:00I've already been warned that we've got some troublemakers on stage, so I'm going to need
00:20some help, okay? Thank you so much all for being here today. This has been an
00:29amazing summit so far, and I'm really excited to share the panel with these amazing minds.
00:36I wanted to just pause. I had a whole thing set up, and because of the Supreme Court decision that
00:41everyone has been kind of referencing, I wanted to take a quick moment and just evoke one of the
00:48ancestors and actually bring a quote into the space, and it's from Martin Luther King. It says,
00:52it may not be true that law cannot change the heart, but it can restrain the heartless.
00:59It may be true that the law cannot make a man love me, but it can help him from lynching me,
01:06and I also think that's pretty important, too. So a question, as I was thinking about today's news,
01:14was what do we do when there is no law? What do we do? So we've got a great mind trust here,
01:25so as we think about accountability in action, I think it's important that we're thinking about
01:29what else can we do, and today's panel is truly about that. And I wanted to set a little bit of
01:34context because we're talking about defining the S in ESG, and ESG has been one of those things that
01:40it's a little bit elusive, and the S is not well defined, and I wanted to just, again, set some context.
01:47So ESG, our environmental, social, and governance, considers three main factors to evaluate the
01:53sustainability and ethical impact of an investment or business. The term ESG originated in 2004 with the
02:03publication of the UN Global Compact Initiative's inaugural Who Cares Wins report. For a host of
02:11reasons, this framework is gaining widespread popularity in the business world. For some,
02:17it's viewed as a replacement for corporate social responsibility, and we actually had the president
02:23talk about that a little bit this morning. And others may view it as a way to shift attention
02:29away from DEI efforts, and DEI will just disappear. And as my mother says, and I'm sure a lot of our
02:37mothers will say, that there's nothing new under the sun. ESG is no different. As early as the 1800s,
02:45a form of ESG was seen in socially responsible investing, or SRI. In the 1980s, ESG investing is
02:55actually credited with helping to dismantle apartheid. So just think about that for one
03:00moment, the power of that context. Let us consider what defining the S in the workplace could do for
03:08equity, equality, and inclusion today. Let us also consider that ESG is likely going to replace,
03:16it had likely in here, and I'm less likely on the likely, okay, to replace DEI. By not defining the S,
03:23there's a consequence to DEI programming and policies. Again, they could just go away.
03:30So the SEC is also looking to issue regulations this year, and I think it's important that those
03:36definitions don't typically include brown and black people. So it's important that as we're sitting here,
03:43we are being as proactive as we can be. Because again, some people are saying that we are 18 months away
03:50from the end of DEI. So I want to start to hear from our panelists. We can define the S in a multitude
03:57of ways of her community service projects, human rights initiatives, et cetera, et cetera. But I want
04:02to talk to Valisha to just say, how does Google define the S in ESG?
04:07Well, I first just have to thank you and of course Essence and Caroline and Richelieu and Alfonso and
04:15everyone for convening this powerful group of people on such a historic day. And when I think of the
04:23context of this conversation, and again, the power of this room to truly be the change, I think that
04:32there are no mistakes. I think we're here in this moment at this very specific time for a reason.
04:38And I also think it's not a coincidence that my two young black sons are in this room with me
04:43on a day like today. And so I want to recognize the historic and pivotal moment that today represents.
04:51And for the topic of this conversation, and specifically around ESG and the S in ESG,
04:58companies like Google that I'm proud to work for and represent have not yet created a definition.
05:06Right? We have to have honest conversations. And we're not unique. There is no universal definition
05:13for the social in ESG yet. But I don't see that as a challenge yet, but in fact an opportunity.
05:22However, there are companies like us who have made very clear and firm racial justice
05:28and racial equity commitments. And I think it's important to say racial equity, and specifically
05:34black equity, when we start to design systems and ways to disrupt systemic bias that we're seeing in
05:42so many corporate spaces. And so today's Supreme Court decision, as we know, is not unique. It's
05:48history repeating itself. I remember the days of my grandparents in the rural South and North Carolina
05:54talking to me about Brown versus Board of Education, and this whole notion of separate but equal,
06:00when we know that equal doesn't work. Right? Equal is about, and I know we all understand this,
06:06but equal is about treating everyone fairly and the same. But equity, right, racial equity, black equity,
06:14is really about setting differentiated strategies to level the playing field. Because we know we are not
06:20represented not only in these spaces, we're not being promoted in these spaces, we're not being
06:25retained, nor are we receiving equitably the level of black investment that we need for our businesses.
06:31So just to give you a quick snapshot, because I know we're only talking about the definition,
06:36but racial equity commitments at Google, for example, were made post George Floyd's execution.
06:43Um, they have been achieved by 80 percent, and it has included more than 300 million being, um, committed
06:50to black owned businesses, um, and black owned small businesses, but then also a 50 million dollar
06:57unrestricted investment to 10 HBCUs. And I think HBCUs, I'm a proud graduate of Clark Atlanta University,
07:06now more than ever, are so vital to the education of our young people and our students. And what we're
07:11gonna see coming out of the Supreme Court ruling is a rush to the HBCU community because our students
07:17are getting blocked out. And will we have the capacity to support our young black students
07:25if we're not making those critical investments? And so that's what the S is about to me.
07:28So I love hearing that. I love that you brought history into this conversation because we can't not
07:34think about history. And today truly is significant and it's so appropriate that we're having this
07:40conversation on today. So thank you for that. Marion, I want to get your voice in the space and I want
07:45to hear how Novartis defines the S. So it's a journey for all of us, but I think the key things that we
07:52have to do around the S and in general is stop creating solutions for communities and start creating
07:59them with communities, right? And so that's number one. Number two, they have to be long term and
08:04sustainable. We have to stop jumping in and jumping out. When the heat gets high, people are jumping
08:12out. So we have to make sure that we do that. And then the third thing that we have to do is we have
08:16to collaborate across. We can't compete to solve problems. We have to collaborate to solve those
08:21problems. So how are we doing that at Novartis? Our beacon of hope initiative is one example. It's a 10 year,
08:2850 million dollar commitment that we have partnered with 26 HBC use and Dr. Linda Armstrong mentioned
08:35it earlier, but it's multifaceted. So this is not a simple solution and it's not a simple problem.
08:42So we're looking at the health component, but there's also an education and economic side that has to be
08:48addressed. So we are empowering the next generation of leaders through scholarships. So we're giving out
08:54$30,000 to these students to ensure that they graduate without debt. We know that after the
09:01sophomore year, a lot of these students drop out. So how do we help to solve that problem?
09:06We provide the money, but we can't just throw money at the problem. We also have to mentor our young
09:12people. And so we have created a mentoring program where they all receive a mentor from Novartis and we
09:18have a full curriculum for these students where they actually receive education around emotional
09:25intelligence, right? How to navigate your career, executive presence and financial responsibility.
09:33So those are the things that we're doing through our beacon of hope program in addition to all of the
09:38health components that Dr. Armstrong spoke about. Thank you for sharing that, Mary. And Caroline,
09:44I want to come to you for a second. So I'm curious to get your perspective because we've heard
09:49just how these two companies are working in the community, but I feel like something is missing.
09:53And I'm curious to get your take on what do you think is missing?
09:58So I'm in corporate recovery.
10:03I say that because some of the stuff I'm about to say, I said when I worked there and some I didn't.
10:08Raise your hand if you like potato salad. Don't be scared. Just do it. Raise your hand if you
10:13eat potato salad. Raise your hand. Okay, put it down. Raise your hand if when you are at a public
10:18function and you see potato salad, you first asked who made it. Raise your hand. Okay, put your hands
10:24down. Put your hands down. Raise your hand if depending on who, what name is said, you may not eat that potato
10:31salad. Raise your hand. What's missing is we forgot that we would rather starve than be used. We're
10:42pickier about what potato salad we eat more than we are about where we spend our money. We will starve
10:49if Margaret made the potato salad because she uses mustard, but we'll spend our money at the companies
10:55that don't give a crap about us. You will starve because you don't like who made the potato salad,
11:02but you will continue to use your dollar to support the folks that you are paying to continue ignoring you.
11:11You will starve and not eat Margaret's potato salad, but you will pay to be ignored.
11:18DEI, BIPOC, HBCU, pick a letter. This isn't Scrabble. You don't get credit for moving around blank tiles.
11:34I think the conversation we need to be having is the distraction that is DEI programs and BIPOC programming
11:41and all this stuff. Yes, that was my title and my job for five years. I'm not naive to that. I'm actually
11:46more educated because of it. Our distractions from the fact that we don't need them.
11:53Us, the black folk, the ones that don't eat potato salad that Margaret made, us. I'm talking about us.
11:59What do I mean by that? You gave a definition of equity and equality. I believe that equality is
12:04giving everybody's shoe. Equity is giving everybody the shoe that fits, but you can still walk without
12:09shoes. We got to learn we can walk without shoes. I think what we are, I'm not saying that systems
12:17don't play a role. I'm not saying that they aren't playing roles in what we're able to do in corporate
12:22America and anywhere else. But at the end of the day, at the point that we realize that they will move how
12:28we move, we will realize we don't need shoes. They will continue to incrementally work because you
12:37will continue to extraordinarily spend your money with them. If you spend 50 and I only got to spend
12:45five for you to come spend 50, I'll spend six dollars so you come spend 60. If you stop bringing
12:50your 50, I'm going to wonder why. And when I come to ask you why, you're going to tell me why and I'm going
12:55to change it so I can get your 50 dollars. What clothes do you have on? What businesses do you frequent?
13:05What services do you order? Do they take care of you? Do they take care of your community? There's a
13:13Native American principle of the seventh generation. You are purchasing continued
13:21oppression from the institutions that will do the minimal to keep your money. They will only change
13:30when you change. So in the same way Margaret's potato salad is worth starving for,
13:37you don't need shoes. Stop spending your money with the organizations that are not representing
13:42what's right for your community. They will go to Congress and make them change their mind.
13:48Because it's for them. They need everything over there to be right for them to make their money
13:53and your money isn't coming until they make it right for you. It sounds simple and it is. The S in
13:58ESG is for slithery, subjective, satisfactory. Pick a word. The systems are there.
14:10The mechanics of the system are right here in this room. Fix the problem.
14:18So, so glad you just said that. Fix the problem.
14:24And remember when I came out, I told y'all, I said I had some troublemakers.
14:28You weren't talking about me. You were talking about my mom.
14:29Yeah, and I love it. This is what we need. So we're in this room because a lot of us have
14:37decided that we're going to spend our time in corporate America. And you just mentioned change
14:42the system. So what do we do to change the system? How do we show up in these spaces to change the
14:49system? Did you decide to be in corporate America? Raise your hand if you decided to be in corporate
14:54America. I did. Raise your hand if you decided to be in corporate America. So what happened if none of
15:00you raised your hand? You had to be in corporate America. Is that what happened? It's a literal
15:07question. So we didn't decide to be in corporate America. I'm asking the question you asked in the
15:13room. Are we in alignment that we decided to be in corporate America? We are. You decided you wanted
15:19this job. It was the best opportunity. If a different one would have been offered, would you have taken this job?
15:25My point is this. I think we get caught up in all this stuff that sits up here when we realize,
15:32you know why I went into corporate America? Because I had a daughter to feed and I just sold
15:36out for 20 years so I could send her to college. I never wanted to be in corporate America.
15:40Yes, I decided, but I didn't decide to go to corporate America. I decided to feed my daughter.
15:45And I understood that for a while I'd have to be a drone.
15:48And when I was done, I would return to the community work that gave me life.
15:56So I was there for a period. I understood why I was there. I decided to go, but there was a reason.
16:01Which meant that I then defined what my existence there looked like and what I wanted to make the
16:05legacy. And when that was done, I looked for a place to do legacy different. I want us to understand
16:11that our decisioning is within our control. If you decided to be in corporate America, why?
16:15And part of your responsibility is to leave that place better than you found it. Have you?
16:23The question is, did you decide to be in corporate America?
16:28I don't mind answering. I can answer.
16:29Go ahead.
16:32And I know the answer is different for everyone here, but I did decide very intentionally to enter
16:40and occupy a corporate space that represents over a trillion dollars in value to unlock those dollars
16:53for our community. Very intentional. This was after having served as the co-president of the Grammys,
17:00having spent 25 years in different spaces, including working for President Obama,
17:04and having had grandparents and parents who were all elected officials. My grandmother,
17:11just as an example, was a former one of the founders with Dr. Mary McLeod Bethune of NCNW,
17:18just to give you an idea in the 1930s. And my dad, who is the former chair of the Congressional Black
17:25Caucus, Congressman Butterfield, said to me one day, as much as I would love for you to run for office or,
17:31you know, to do all the things that, you know, we did, you know, what do you want to do? And I said,
17:38it's not that I want to work in a corporate system, but be such an opportunity in that system
17:45to make it right. And not that system right, but instead getting those dollars into the hands,
17:53specifically of Black-owned businesses, right? So for me, ownership, Black ownership, Black
18:00entrepreneurship, Black innovation, getting the resources and the investment, not the help,
18:06right? We're not helping Black-owned businesses, but investing in Black-owned businesses, investing in
18:12HBCUs, again, unrestricted, where we're not, you know, trying to direct where the funds go,
18:17but just trusting the mission and those universities and those businesses to do what they need to do
18:24to grow their businesses in our economy, our Black economy. And so, and it's hard.
18:31It's hard, right? Like, I sit here as one and represent probably dozens in this room and in our
18:38industry of Black women and Black men as DEI leaders in predominantly white corporate spaces,
18:47and it is like moving a mountain. And we're still here, right? Melanie Parker, my boss,
18:55chief diversity officer of Google, is here. We're still here. And we're here because it has to be a
19:01multi-pronged strategy, right? We can't just operate, I believe, in a siloed space. And so,
19:09as I occupy these spaces to unlock the dollar, it truly is a very purpose-driven, in a lot of ways,
19:16selfless decision, because it's hard as heck, but still it's worth it when I start to see the returns
19:22and the gains happening in our community.
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