March 21 - Day Against Racism: The Role of Business in Promoting Racial Justice and Equity

Authors:  Lina Vosyliūtė and Tijesunimi Agbaje

Today on March 21, International Day Against Racism, when some politicians are looking away, we look for new ways to bring Racial Justice in Action. We thus explore the Role of Business Leadership in promoting and supporting racial equity initiatives. Traditionally the businesses also have been seen as one of the culprits for taking advantage of racial and global power imbalances. But  how can business lead a way for change? 

Racial Discrimination: Also a Business Challenge

Racial injustice isn’t just a social issue, or government’s concern —it’s also a business challenge. Companies that champion diversity, equity, and inclusion (DEI) drive innovation, foster stronger communities, and build long-term resilience.

Behind every statistic on racial discrimination, there is a human story—a migrant woman from Syria seeking employment safety, a refugee child from Ukraine striving for a quality education future, a Roma graduate in Hungary, willing to start her start-up and navigating systemic barriers and biases.

The Business Case for Racial Justice

Addressing racial injustice is not just about corporate social responsibility—it is a strategic imperative for businesses. Companies that actively champion DEI foster innovation, attract top talent, and build stronger relationships with their customers. Studies show that diverse workplaces outperform their counterparts in creativity, decision-making, and financial success. Organizations that take racial justice seriously are not only on the right side of history but also positioning themselves for sustainable growth.

Companies Leading the Way

Several global companies have already taken tangible steps toward racial equity by investing in programs that uplift marginalized communities:

• Airbnb launched the ‘Open Homes’ initiative, offering free temporary housing to over 100,000 refugees and displaced individuals worldwide.
• Ben & Jerry’s has invested more than $2.5 million in legal support for refugees and immigrant communities while actively advocating for asylum reforms.
• IKEA Foundation has committed €100 million to refugee employment and integration programs, providing job training for over 2,500 asylum seekers across Europe.

• These examples highlight the power of businesses in creating meaningful change through strategic investments and advocacy efforts.

  The Business Imperative of Inclusion

  Corporate leaders increasingly recognize that racial justice is essential for sustainable business practices. Companies that actively promote equity and inclusion create workplaces where employees thrive, build stronger consumer trust, and contribute to broader societal progress.

As Airbnb CEO Brian Chesky stated:

“We feel a responsibility to step up. If you have a heart and a home, you can be part of the solution.”

Businesses have the power to drive lasting change. By working together with civil society, investing in marginalized communities, and embedding racial justice into corporate strategies, companies can help dismantle systemic barriers and build a more equitable future for all.

The Role of Civil Society in Racial Justice

Businesses do not operate in isolation. Partnerships with civil society organizations are crucial to creating systemic change. Many grassroots organizations are at the forefront of racial justice, advocating for policies, providing essential services, and amplifying marginalized voices. Some key organizations making an impact include:

• ECRE (European Council on Refugees and Exiles), which advocates for upholding refugee rights and fights for humane asylum policies.
• ERGO (European Roma Grass-Roots Organisations’) Network, which focuses on Roma inclusion through employment, education, and political participation.
• European Network Against Racism (ENAR), which works on policy reforms to combat systemic racism across Europe.
• Platform for International Cooperation on Undocumented Migrants (PICUM), which provides legal advocacy and protection for undocumented migrants.

Many other organisations, working in the human rights and humanitarian domain, like Save the Children, which supports all children, for instance have special programmes that support racialised communities as well as  children on the move. They challenge racial biases through education, health, and protection programs and systemic barriers for migrant and refugee children to access their rights and needed support . 

Driving the Access to Finance for Racialised Entrepreneurs

Business and civil society coming together to promote diverse entrepreneurs and access to finances for racialised communities, since  access to finance is still a critical issue for re-balancing economic and decision making power. 

• Accenture invested in  Founders Development Program, that promotes diversity, inclusion  in and anti-racism accessing funding for new entrepreneurs programs around the Globe.”Historically underrepresented founders and entrepreneurs continue to innovate but face bias and lack access to capital and opportunity in the venture capital community, receiving a disproportionately small amount of funding.” – says Paul Daugherty, Group Chief Executive – Technology and Chief Technology Officer at Accenture. 
• Ashoka & IKEA Foundation came together to support change-makers of migrant and refugee background, and also civil society, academia, business working on racial justice and equity via Hello Accelerator in Europe and Latin America. In Europe, they are changing the narratives, innovating employment practices and business models. 
• UNITEE, which represents New Europeans among the business leaders in the EU, launched an Inclusive Entrepreneurship Alliance. The Alliance, which includes many civil society organisations working on the ground, tackles racial biases,  fosters economic inclusion and innovation by representing migrants and those coming from cross-cultural backgrounds as well as women, youth, persons with disabilities and other diverse entrepreneurs in Europe.

Beyond Support: Actionable Steps for Businesses

To move beyond statements and pledges, businesses must take concrete action to drive racial equity. Funding and Supporting Grassroots Initiatives is always a great  cause. For this to be more meaningful aim to provide long-term funding to civil society organizations advocating for racial justice and migrant rights, whose values and actions you embrace.

Here are some  other steps to go beyond:

1. Invest in Diverse Leadership: Establish leadership development programs for racialized communities, ensuring equitable career progression.
2. Use Purchasing Power for Justice: Partner with and invest in businesses owned by migrants and racialized entrepreneurs.
3. Implement and Enforce Anti-Discrimination and Corporate Sustainability Due Diligence Policies: Develop clear frameworks to ensure fair treatment within the workplace, supply chain, and customer interactions.

When going beyond, and maximising impact, building Alliances and Support legislative efforts that promote racial justice and equitable economic policies representative of your diverse employees, customers and suppliers, for instance as covered under CSDDD or CSRD reporting. 

But, where to start? 

The current geopolitical situation presents numerous moral and leadership crises. This is precisely  a moment when corporate leaders could fill in the gap by stepping up for  the racial justice, inclusion and equity. Businesses have a unique opportunity to be part of the solution by actively supporting racial justice initiatives and fostering inclusive workplaces. Now is the time to understand the unique impact your business can make, to collaborate with the likeminded civil society, and take bold action toward an equitable and just workplace, communities you serve, and supply chains you engage with.

At Heartwarmingly, we can help by bridging purpose-driven businesses and civil society to create real impact by conducting intersectionality analysis, facilitating multistakeholder partnerships, co-creating powerful social innovations, and assessing the social impact.

For more insights on how your organization can engage in meaningful social impact, let’s schedule a call with Heartwarmingly today.

Article sources

1. Ben & Jerry’s Refugee Advocacy
   • https://www.benjerry.com/values/issues-we-care-about/refugee
2. IKEA’s New Commitments on Refugee Integration
   • https://www.ikea.com/global/en/newsroom/social-responsibility/ikea-new-commitments-integration-of-refugees-231213/
3. IKEA Renews Commitment to Refugees through Skill Development
   • https://globalcompactrefugees.org/news-stories/its-skill-development-both-ways-ikea-renews-its-commitment-refugees
4. Accenture’s Founders Development Program
   • https://www.accenture.com/us-en/insights/technology/founders-development-program
5. Airbnb’s Opening Homes in Times of Crisis
   • https://www.airbnb.com/resources/hosting-homes/a/opening-homes-in-times-of-crisis-with-airbnborg-286
6. Ashoka’s Hello Accelerator for Refugees
   • https://helloaccelerator.ashoka.org/
7. UNITE’s European Agenda for Inclusive Entrepreneurship
   • https://www.unitee.eu/advocacy/european-agenda-for-inclusive-entrepreneurship/
8. Heartwarmingly’s Services for Refugees and Immigrants
   • https://www.heartwarmingly.com/services/
9. World Economic Forum: Advancing Racial Justice in Business
   • https://www.weforum.org/stories/2021/06/7-ways-companies-are-advancing-racial-justice-in-business/