 Well, good morning, good afternoon and good evening everyone to our session on delivering social justice in the new economy. My name is Caroline Casey and I am the founder and director of the valuable 500. The global CEO community transforming disability inclusion through business leadership and opportunity with our very proud partners the world's economic form. Now we have a huge announcement to make on Friday the 29th which I think really plays into the importance of what we're about to discuss today. But I wanted to just open this up and give a little bit of context I'm the moderator and just to give the flow of how we're going to spend the next 30 minutes together in the public form and then we will be moving to a private session with our members between 630 and 7 o'clock. Also to explain to you, I am registered blind so I'm going to give you a very quick audio description of myself for best practice and inclusion. I'm a white woman with blonde hair with the blue background and a pair of black round glasses apparently look like Edna from the Incredibles not sure but that's where it is. I am dialing in from Ireland's Dublin beside my washing machine. And I just want to start by saying we know that video has best captured what is happening in our world. And it's January and we've been here now it feels like for a very long time and we are tired exhausted, worried and frustrated and yet there is hope to. We know that this global pandemic has also been a pandemic, essentially a humanity, it has been the great social in equalizer. The inequalities that existed before our global pandemic have been exacerbated, they have been compounded, and they are terrifying to look upon. We know that every part of our humanity is suffering in some particular way. And we know when we speak to this how we're going to build back better, this great reset. These are all great words and we know that we have to do it. But how do we do it? How do we really do this when we have so many agendas on the table? The issues of gender, LGBTQI, age, economy, disability. It's really tough and it's really hard and I think we have to be honest and be provocative. Because if it was so easy we'd have done it better before even now. So today's conversation is going to look at how can we look at all of these unique and pressing agendas within a collective and collaborative intention for full human inclusion, equity and justice within this new economy. What is the role that business has to play? And also looking at some of the great new and most promising initiatives that we have seen. And we've just seen the announcement of one of them with the World Economic Forum today on racial justice. We have panellists who are coming from three very specific areas or two different, which is around academia, business and from policy. Because every different field has a different lens. And that's what we're trying to do, try to see how we can move forward together with our different views, our different lens and our different agendas. So I am going to ask each of our panellists to introduce themselves to tell you where they're dialing in from their name and the current role they have and if they feel inclined to give a description. So I am going to hand over to Peter Grower who I know and I'm a mad fan of for many years. So Peter over to you first. Thank you Caroline and thank you for the opportunity to be here with such an incredibly impressive panel on what's going to be a very interesting next hour that as it unfolds. I'm Peter Grower. I'm executive chairman of Bloomberg and chair our management committee have been at Bloomberg for almost the last 20 years and have really been the primary spokesperson at the senior most levels of our firm along with Mike Bloomberg, really putting a stake in the ground about diversity, equity and inclusion and trying to address the challenges both within our company and as a global media financial information company going forward. I also want to let everybody know captioning is available please use this. It is all of the sessions on the Dabbitt agenda are captioned. Minister Kutier, would you like to introduce yourself? Yes, hello. Good afternoon. My name is Tatiana Kutier. I'm a minister of economics in Mexico. And I'm very, very happy to be here and listen to all this great discussion that as you say Caroline, we are going to have to do something very disruptive as to a ship what we have in front of us as a world. Thank you minister. Ashley, we said we share a global future council together would you like to introduce yourself? Absolutely. I'm Ashley Shalvy-Rosette. I'm a professor and senior associate student at the future student business. And it's such an exciting to be here amongst the student panel and to take part in what is a really important conversation in line with the best practices that Caroline has initiated. Yes, we describe ourselves. I am a black literally woman with red blotches and a lovely brown background. Thank you Ashley. Caroline, another, I'm another fan of yours because both you and Peter are part of the racial justice program and the valuable 500. Would you like to introduce yourself? Thanks Caroline. It's great to be here with everyone. My name is Carmine DeCibio. I am the global chairman and CEO of EY. EY is an organization, a professional services organization with over 300,000 people in over 150 countries around the world. And we do value ourselves in terms of being really leaders when it comes to DNI. In terms of me and I'm sitting about 20 miles west of New York City in a suburb in New Jersey, which is where I'm coming in from. And I do, I'm a white male of Italian descent and I do have EY background just to make sure that people know who I work with. Anyway, that's it Caroline, back to you. Brand placement, always an opportunity. Okay, listen, the first question I want to ask each of you. Look, this is the decade of disruption. We know, as the minister says, we're going to have to do things very differently. And we know collaboration, collective power. We know we need to have the intersectional lens. We need, we know we need to have multi stakeholder approach. We know all of this. Once again, easier said than done. So I was going to ask each of you from your particular field, what do you see is the barriers to this intersectional multi stakeholder approach. And because we're going to have some positivity, the opportunity. And minister, I'm going to go to you first. Okay, well, one of the things that I, one of the big challenges we have at this moment. I believe that is how are we going to be integrating and putting the agenda that it's all these ideas that come out worldwide. And that we have to introduce very fast when we have an agenda that has been going on for a longer time. And how are we going to be like, what it's going to be our priority? Nonetheless, I assume that one of the priorities we're going to have to be facing at this moment, it has to do with women. How are we going to be including women in this challenge? How are we going to be including women and re-skill them as we were saying a few minutes before in all the digital area, especially in countries like ours in Mexico, where we have a very different, very different areas where we have women that are pretty far behind in all the digital arena. So the big problem is how are we going to be attending the most important things in the color, the most important things at this moment. But at the same time, we have like a very long agenda that we were trying to improve with women where they were fighting for stopping violence. But at the same moment, they need to work and in order to have them working, we need to have them with digital education. We need to have them very fast in the economic integration. And I think that's why it's like, which thing are we going to be taking as priority? And how are we going to be putting all these suggestions worldwide? Because we do have our main problems in Mexico now that we lost 9 percent. Well, we lost 657,000 awards. And I think that the main problem we have at this moment is people are fighting and say, do we keep our health or do we keep our work? So the main thing that we're going to be facing at this moment is how do we make a balance in between the two of them? And if we have hospitals that are almost full, what is the balance we're going to have to have? How do we give families the means to be working and to be achieving money to their houses? And how are we going to be postponing not having them sick and not having them in hospitals? Yeah, I mean, this is perfectly saying exactly how do we do with all of these competing needs and all of them priorities? And what is that way forward? So, Ashley, from your perspective, this idea of intersectionality and multi-stakeholder, what do you see as some of the barriers from the field of academia and what's coming up in research? Sure. So before you even tackle, I think, the notion of the multi-stakeholders and intersectionality, I think fundamentally there is a misunderstanding as to what we mean when we say social justice. Frequently we say social justice, people hear one thing and we mean something completely different. And so social justice and social equity are simply about being treated fairly, that all people should be treated fairly. But frequently that isn't the case. The remedy for social equality is differently social equity. Remedy for social equality means that we want to treat people equally. Remedy for social equity is disparate treatment. And sometimes that notion of disparate treatment is why we don't have that understanding and that we have that resistance in terms of understanding what social inequity is. We have social dominant groups and advantages and privileges of social dominant groups. We have social dominant groups and disadvantages of capabilities. We have to learn to acknowledge the unfairness that we've met previously before we even talk about stakeholders. The second aspect that we want to consider is the status quo. And the communities with which dominant groups maintain the status quo. In organizations, there usually exist two systems. One system of meritocracy and one system of provisional oppression. We often recognize the system of meritocracy, but we don't recognize that system of privilege and oppression that works within our organizations because it can be threatening to our self-worth, our self-value to say we didn't necessarily completely get all of our accomplishments on our own. And so that can be problematic. So of course this gets a definition down. Of course it's recognized that people don't acknowledge social justice because of these threats and they put their differences in the negative enough. Now we try to tackle multi-stakeholders, but we have to find and then we recognize that social justice is no different than any other agenda. And that is the problem and the reason why it can't necessarily advance with multi-stakeholders is that everybody wants a piece of that social FMI, but we can't all be at the same time. If we start talking about race, people say, well, what about gender? And what about social, what about religion? And what about all these other things? It's okay to talk about one topic at a time. But what you do is you say we're going to focus on race. But within race, we have various different categories. We have women, we have men and we have religion and we have these differences. But you have to focus on one thing at a time because historical inequities and historical context and it's given a rise to a difference in racial inequality and inequity, a difference in gender inequity, a difference in religious inequity, they're all different. So hey, focus on one topic at a time and recognize there are multiple layers. And so our inability to do that I think has contributed to our inability to move this multi-stakeholder approach forward. Peter and Carmine, Peter, I'll come to you first. I think that is, I mean, considering when you look at Bloomberg and you are looking at signing up to several different initiatives, giving individual focus, but then part of a collective good. How do you want to respond to what Ashley's just said? Well, I think Carmine and I enjoy a little bit of a special position in this august group that we've assembled to talk about this subject. And that is we are products of the practical as much as we are anything else. And our responsibility, his as chairman and CEO and mine as chairman and chairman of our executive committee, along with my six colleagues on the executive committee, is to obviously try and become an exemplar in Bloomberg of what people talk about with regard to diversity, equality and inclusion. And we've evolved in our thinking over the last six or seven years where we initially focused heavily on women and people of color. We've evolved into the LGBTQ community. We've involved into colleagues with disability and making sure that they feel as though they are both welcome and can bring their whole selves to work every single day. And really using the Bloomberg envelope, if you will, as a test ground for doing a range of different things. And we have lots of programs that are underway where we're trying to make a more meaningful impact. It all in my judgment boils down to the tone at the top of the organization and the leadership exhibited by the senior executives who are lucky enough to be in a position of responsibility to really help do something about this challenge around racial inequality and all that goes with it. We also have the kind of unique position as a global provider of news, data and analytics with multiple platforms to be able to use those platforms to influence people thinking and making sure that they are focused on the severity and the responsibility of these issues going forward. And we try and use that as well. And then the third thing we do are engagement in activities at the World Economic Forum. Carmine and I are both members of the New York City CEO Jobs Council that Jamie Dimon started about a year ago. We are very proactive in Chicago, for example, in skilling and allowing people to compete more effectively for jobs going forward. So the intersectionality occurs in a lot of different places. I think the responsibility of leadership is to identify that and lead and execute as we go forward. Carmine, as the global CEO of over 300,000 employees all with different areas of interest and passion, how are you finding juggling that and are you feeling that pressure moving forward as to have a more holistic approach with the balance of the individual agendas? Yeah, so thanks, Caroline. Look, to me at EY and our culture really embeds D&I and it's been that for 30 years since I joined. And so that's important. I do think we have to talk a little bit more about the role of business. As Peter mentioned, today it is extremely important that all business leaders from the top have the right sense in terms of what it comes to in terms of D&I. And I think it's more important than ever because in many places around the world, I think governments have struggled with this and unless businesses really help, we're going to struggle. So even today in one of the Edelman surveys, 66% or two thirds of the people think that CEOs have to play a bigger role in justice, in social justice, in the causes. So we at EY have been very proactive when it comes to D&I and same as Peter, we were more heavily weighted towards gender. We then became more weighted towards LGBTQ as well as gender. And really I think the George Floyd incident in the United States woke us up a little bit that we probably weren't as focused on people of color, not just in the United States but around the world. And so we actually set up a global task force around this issue. And it's really incredible when you see our global task force on these screens and you see, you know, 50 people from around the world dealing with the same issue. This is not just a US issue. And that's what I think is great, the George Floyd situation really opened people's eyes all over the world. It's great to see that this is now at the top of the agenda in terms of making sure that we solve, you know, the inequity problems and the racial problems around the world. So that part I think has helped. But the barriers Caroline, you know, to me, the barriers are really around, you know, and as Peter said, some of the thinking from the top and these organizations is not a long term thinking. It's a short term thinking. And so companies aren't willing to invest there aren't willing to in in some of the things that we have to get done. And because of that, they're not really thinking long term. And frankly, it's not working people being left behind. And so this is something that's become obvious through the pandemic as the video showed when we started. It's something that we have to solve. Now is the time to solve it. There's a lot of momentum, you know, as we move forward as we come out of the pandemic. Minister, if we come to what Carmine has just said on this long term look to the future, which is difficult in governments as much as in business. And how what are some of those policies that you are seeing or are going into place and also how you can support, I guess the business community as well as you're moving forward so the business community can work in partnership with governments. Okay, one of the things that I that I agree that they have been saying is how CEOs have to be more realistic now about how to put in their all equation, not only making money but social justice and also how they're going to be working with governments and with the society in the people left behind. I think that the pandemic has helped us a lot to put an eye in something that we did not put it before. And we also have another thing in Mexico, which has to be do with migration migration also plays an important role in here. And now I'm going to go back to trying to answer your question. First of all, Mexico has, as I said before, has lost a lot of jobs. And one of the things that we believe it is very important is that President Lopez Obrador has has as a main issue all the time, working with social justice and trying to give a hand to those people left behind. One of the main things we are doing at this moment, it is trying to make infrastructure development in the south part of Mexico. As for that, one we have more infrastructure than the southern part of the country. We can have those people and better jobs there. And a lot of people indigenous people and people that have less education or less formal education in our country is pretty concentrated on the south. So we believe that the train Maya, the Maya train and the inter-oceanic is a connection that we're going to be having there. It is going to be very important. So because some other business are going to be getting there, some more investment is going to be getting there. And what we're trying to do is that the business that come around those big infrastructure, infrastructure development has to do with local investment involving the people from the little cities, involving the people from that community in the development. Otherwise, we're just going to have big business coming into this and the people are going to be doing like the same things we have done in other places. They're going to be just workers that get paid very low instead of being like partners in some areas and having them better development. Some of the other things we are doing at this moment is, as I said before, including women, but including women in many areas. And that has to do with the digital transition in all ages and also re-converting or re-skilling women in different areas. We have been working with not only with the government, but also with business and some embassies as to having them work together with us and help us re-skill the women in all the areas that are e-commerce. Most of these women have little commerce or have little stores. They need to be introduced in the new way to deliver the products and doing like change with other areas so they can be selling the products. Some of the other things that we have been including is helping the small business with some of the credits and some amount of money. So they can keep on moving and moving the local economics in their towns. And that's one of the things where we have been putting a lot of emphasis. For that, we have had two in the digital inclusion programs. We have something that we did that it's called a platform that includes all the little business. So people can see that all national-wise and we can keep on moving the local commerce. Some of the other things we did is we have been doing a lot of work with businessmen as to be working especially in small companies that SMEs, which we believe that they are the ones that are suffering the most. We have more or less 80% of those companies in our country. And if we don't put emphasis and we don't provide little credits for those ones, I think we're going to be losing the main change of the economics. I think one of the things that the difference between small and medium business and large business is very different. And I'm sure both Peter and Carmine can speak to that. I've been given the flag for five minutes. It's insane that we have to try and have a conversation like this in such a short period of time. But I want to come back to something, Ashley. We've heard about Carmine and Peter speaking to the importance of business leadership. We've heard the ministers say that is a really important collaboration with government. Look, you're at the front face of research around diversity and equity and inclusion within business. What is the research telling us? And I know you spoke to the importance of talking about individual before we even talk about multi-agendas. But what's the research telling us? Yeah, to keep it short, I think Carmine and Peter have done a lot of the work in answering that question for us. And here's what I mean. What they both have described to their companies are exemplars that many of you should aspire to be. When we talk about diversity, equity, and inclusion, Caroline, frequently what people do is they describe it as appropriate as an initiative to invent. That means something singular in nature. That means that once that goal is accomplished, we're done, right? We're finished. But what Peter and Carmine said is that diversity, equity, and inclusion has been an integral part of our organization. So just as we set revenue goals for our organization, we need to every year set diversity, equity, and inclusion goals. Just as we have tactics and strategies that accomplish our revenue goal, big tactics and strategies that accomplish our diversity, equity, and inclusion goals. And just as we have measurements and analysis that assess our revenue goals, both we need measurement and analysis to also assess the diversity and equity and inclusion goals. So it has remained at the forefront. The second thing, Caroline, that I would tell you that we know about over the last year is that oftentimes people make the mistake. Organizations make the mistake, and they start with the output as opposed to the input. Many people want to say representation. What we want to do is we want to make sure that we have a diverse organization, but they don't want to do the work to ask themselves, how do we get here in the first place? Right? They have to ask what decision-making processes work. What's our culture like, right? What are our shared values and beliefs? Because if you hire these individuals and you bring them into an organization that does not value diversity, representation, representatives, equity, how people feel the fairness that's associated with that diversity. And then also the inclusion, meaning they don't belong, it's not going to work. So it has to come from the top, and it has to be this integrative notion. And that's what the research is telling us. That's what the best practices is telling us. And that's what the last 10 months, the last few months since the George Ford killing has taken place. And the initiatives that we've seen be implemented, that's what it's telling us. Caroline, let me mention one other thing. You've got 30 seconds, Peter. You've got 30 seconds. That's all you got, my friend. This is a race without a finish line. Yeah. We should not expect things to change overnight, but we should be judged on the long term impact that we have on these critical issues. And that I believe strongly and I think Carmine would agree with me is the responsibility of leadership and organizations like ours, but all of us around this panel for our responsibility to contribute our fair share to make it happen. But it's going to take time. We've got to be persistent and we got to get it done. And everybody recognizes that. You're absolutely right. And we also got to know and say what we don't have the answers. And I think that's it is to keep questioning and make the time to innovate and to fail. I am being shouted at over the phone. So I just want to say, this is really hard. I appreciate all of you. Thank you so much. What we're going to do now is end the public part of this. I ask the panels to stay on here with us. For the members of the forum, please dial off and go back on again through top link for the interactive session, which will begin in two minutes. And to the public. Thank you so much for bearing with us. Sorry, this conversation is so short, but I want to say a huge thank you to Peter, to Minister Kutcher, to Carmine and to Ashley. Thank you very much everyone.