10/25/20 3:28 PM
Internal Representation & Support
To evaluate this pillar, we take into consideration a range of factors, including but not limited to:
- Employee representation
- Diversity, equity, & inclusion (DEI)
We weigh a company’s degree of public commitment primarily on their monetary contributions to DEI matters or organizations fighting racial injustice.
Forms of monetary support we look for:
Employee donation matching
The Square diversity page is super transparent in regards to their efforts to increase diversity and what has been effective. Additionally, as of September, Square will be donating $100M to "Minority and Underserved Communities".
In a press release about the Square Capital Report released in January, Square notes that “minority business owners are more likely to apply for financing — but less likely to receive it" without any further detail on this comment. In June, Square was holding on to 20-30% of each transaction for "risky sellers" according to a new rolling reserve policy to protect consumers.
We scour the company’s website and official social media channels to determine what message they are sending around racial injustice, how they are communicating it, and whether their communications are perceived as genuine or performative.
Public statement: We verify that companies have made a formal statement regarding racial injustice.
Social media: We consider how a company uses their platform(s) beyond performative allyship.
Representation: For companies that have the opportunity to showcase diversity in their feed, we consider whether they have adequate Black representation and BIPOC representation across their models.
I. Internal Representation & Support:
Board of Directors:
8% - 9% Black, 6% - 10% BIPOC, 26% - 30% Women
0% (none) Black, 21% - 25% BIPOC, > 50% Women
10% - 11% Black, > 40% BIPOC, 36% - 40% Women
An appointed DEI senior leader and/or a dedicated DEI organization, A Black employee resource group