CAPAC Addresses Fortune 100 CEOs on Corporate DEI Practices and AANHPI Corporate Representation
WASHINGTON, D.C. — The Congressional Asian Pacific American (CAPAC)’s leadership members announced today they wrote to the CEOs and heads of America’s Fortune 100 companies, the 100 largest public and privately held companies in the country. The letters to these companies seek to determine the diversity, equity, and inclusion (DEI) practices for Asian Americans, Native Hawaiians, and Pacific Islanders (AANHPIs) specifically. This initiative follows CAPAC’s 2016 letter to Fortune 100 companies regarding corporate diversity and AANHPIs.
Along with her Tri-Caucus partners at the Congressional Black Caucus and Congressional Hispanic Caucus, CAPAC Chair Rep. Judy Chu (CA-28) discussed the letters and importance of DEI programs and practices generally at a recent press conference.
Despite their significant population growth, AANHPIs remain underrepresented at the senior-most levels of the largest U.S. corporations, particularly within the Fortune 100 companies. While making up six percent of the U.S. population, AANHPIs hold only 2.7 percent of the total number of corporate board seats. In 2021, with the surge of pandemic-fueled anti-Asian hate and tragic Atlanta spa mass shootings, many Fortune 100 companies began including AANHPIs in racial equity and racial justice discussions. However, DEI initiatives by businesses and corporations have been under sustained assault by Republican state attorneys general and far-right judges since the Supreme Court’s 2023 decision in Students for Fair Admissions v. Harvard gutting race-conscious university admissions.
Each letter sent today requests: the numbers and percentage of senior staff who are AANHPI; the numbers and percentage of government relations staff who are AANHPI; the percentage of overall philanthropic funding devoted to the AANHPI community; the percentage of contract dollars awarded to AANHPI-owned businesses that act as vendors to the company; and specific DEI programs and initiatives devoted to AANHPIs employees at the company.
CAPAC’s Leadership Members released the following statements:
Chair Rep. Judy Chu (CA-28):
“The horrific murder of George Floyd in 2020 and the Atlanta spa shootings in 2021 shocked our country awake to the reality of rampant systemic racism and bias impacting our communities of color. With Americans demanding a racial reckoning because of these tragedies, corporations pledged to better address racial injustices. For the AANHPI community specifically, our communities remain severely underrepresented in the corporate sector, and especially at the senior-most levels of the largest U.S. companies. That is why with this letter to Fortune 100 companies, we will determine whether the largest businesses in America have followed through on their promises and encourage them to continue this crucial work—even in the face of assaults on diversity, equity, and inclusion from Republican officeholders.”
First Vice-Chair Rep. Grace Meng (NY-06):
“AANHPIs have contributed to the prosperity of our economy for decades. In recent years, we have become the fastest growing population in the United States. Despite this, we remain significantly underrepresented among leadership in the business world. I am proud to join my CAPAC colleagues in calling for transparency of AANHPI representation across corporate leadership, contract awards, and philanthropic funding at Fortune 100 companies. I will continue working to ensure our communities are not left out of opportunities for economic investment and mobility.”
Second Vice-Chair Rep. Mark Takano (CA-39):
“The Members of CAPAC are deeply concerned by the lack of AANHPIs in the C-Suites and on the boards of the largest U.S. corporations. We look forward to your response and to working collaboratively to ensure every American, including AANHPIs, is able to thrive and rise.”
Whip Rep. Ted Lieu (CA-36):
“It is valuable to have all facets of American society – from government to business to media – reflect the rich diversity of our country. Diversity, equity, and inclusion initiatives help ensure businesses have the cultural competencies necessary to appeal to a wide consumer base. I joined CAPAC in calling for corporate leaders to share information about their engagement with the AANHPI community so we have a better sense of how they can better meet the needs of the AANHPI community.”
Freshman Representative Rep. Jill Tokuda (HI-02):
“Diverse workplaces attract better talent, lead to greater innovation, and create stronger communities. As our corporations drive our economy forward and keep us competitive with the rest of the world, they must continue to prioritize diversity of all kinds, including for AANHPI people,” said Congresswoman Jill Tokuda. “That means creating real pathways for AANHPI people to attain leadership roles and engaging directly with AANHPI communities. I urge our Fortune 100 companies to take their commitment to diversity seriously and back their words with real actions and the data my CAPAC leadership colleagues and I are asking for.”
Click here for a general version of the letter, or view below.
Click here to view the February 8, 2024, Congressional Tri-Caucus press conference on DEI.
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February 9, 2024
Dear Corporate Leaders:
On behalf of the Congressional Asian Pacific American Caucus (CAPAC), we write to inquire about your company’s diversity, equity, and inclusion practices for Asian Americans, Native Hawaiians, and Pacific Islanders (AANHPI) at the most senior levels of your company. CAPAC was founded in 1994 and is composed of 75 Members of Congress, including Members who are Asian American, Native Hawaiian, or Pacific Islander and those who represent large AANHPI constituencies. Our caucus is fully committed to protecting and advancing the needs, interests, and aspirations of AANHPIs, and recognizes the critical role that diversity, equity, and inclusion initiatives play in advancing equity for our communities. Given current legal challenges to such programs, we appreciate the enormous efforts from our partners across different sectors to uphold their commitment to diversity, equity, and inclusion, and we hope to learn more about how your corporation is also working to affirm these principles, as well as your engagement with and investment in the AANHPI community.
According to the U.S. Census Bureau, AANHPIs are the fastest growing racial population in our country, growing by double-digits in nearly all of the 50 states. Collectively, AANHPIs represent approximately six percent of the U.S. population. As AANHPI communities continue to grow, so does our buying power and influence. In fact, Asian American buying power in the United States is currently $1.3 trillion – larger than the economies of all but 16 countries worldwide.
Despite our significant population growth and all that we have achieved in the U.S., AANHPIs still remain severely underrepresented at the senior-most levels of the largest U.S. corporations, particularly within the Fortune 100 companies. A study conducted by Leadership Education for Asian Pacifics, a nonprofit organization based in Los Angeles, revealed that AANHPIs hold only 2.7 percent of the total number of corporate board seats.
This lack of diversity in Corporate America is of deep concern to CAPAC because many of these companies have claimed for years that it is their over-arching goal to reflect the diversity of their customer base and the communities they serve. However, years of work to address racial equity have historically not always included AANHPI communities, until a surge in pandemic-fueled anti-Asian hate, and specifically the tragic Atlanta spa shootings in 2021 that killed eight individuals, including six Asian women. In the years since the pandemic began in 2020, over 11,500 hate crimes and incidents targeting individuals of Asian descent have been reported nationwide. Since 2021, many more Fortune 100 companies have been intentional about their inclusion of AANHPIs when discussing racial equity, but there is still more progress to be made.
Without executive leadership representation at Fortune 100 companies, AANHPI employees have fewer role models and fewer internal champions to guide and mentor them. Corporate leaders also have fewer internal resources to guide them in fully understanding the needs and aspirations of AANHPI consumers.
In order to better understand your diversity, equity, and inclusion efforts and work with the AANHPI community, we request that you provide the following information no later than March 31, 2024:
- The current number of C-Suite/Senior Executive Management members in your organization of Asian American, Native Hawaiian and/or Pacific Islander heritage, including the percentage of AANHPIs at this level.
- The current number of employees in your company’s government relations/affairs department of Asian American, Native Hawaiian, and/or Pacific Islander heritage, including the percentage of AANHPIs as part of the entire federal government affairs team.
- The percentage of overall corporate philanthropic funding devoted to the AANHPI community, and a list of the AANHPI organizations with whom you work.
- The percentage of all contract dollars awarded to AANHPI-owned businesses who serve as vendors to your company.
- Specific examples of programs and initiatives you employ to advance diversity, equity, inclusion, and engagement throughout your organization.
- Any other information you would like to furnish about your diversity, equity, and inclusion efforts in the AANHPI community.
Thank you for your support and participation. We look forward to your response.
Sincerely,
Judy Chu, CAPAC Chair
Grace Meng, CAPAC First-Vice Chair
Mark Takano, CAPAC Second-Vice Chair
Ted Lieu, CAPAC Whip
Jill Tokuda, CAPAC Freshman Representative