Advancing Racial Equity 4.0 with Shereen Daniels

Louise Story is a prize-winning investigative journalist who spent more than 15 years at the New York Times and the Wall Street Journal, where she was the top masthead editor running coverage strategy. Her work investigating corruption led to the largest kleptocracy forfeiture in U.S. history, a scandal known as the 1MDB case. She teaches about racial wealth gaps at The Yale School of Management.Ebony Reed is a seasoned journalism leader who has led coverage and operations with a focus on community news. Now the Chief Strategy Officer at The Marshall Project, she has held other senior roles at the Associated Press, Boston Business Journal, The Detroit News, The Cleveland Plain Dealer, and The Wall Street Journal. She’s taught at a half dozen institutions, including co-teaching with Louise at The Yale School of Management. In this episode, I speaks with journalists Ebony and Louise about their book 15 Cents on the Dollar, which explores the Black-White wealth gap in America. The conversation covers a wide range of topics, blending personal reflections with systemic insights about racial economic disparities.We cover:- How Ebony and Louise connected and the origins of the book- Personal histories and racial differences - Louise and Ebony discuss the nuances of their own family histories, such as the generational differences in wealth accumulation due to race, highlighting how systemic racial inequalities affected their fathers’ career paths and life choices.- Wealth disparities in unexpected areas - they explore how the wealth gap shows up in places like bankruptcy, home ownership, and even auto insurance, with policies that may seem neutral but disproportionately affect Black Americans.- Corporate responses after George Floyd’s murder - namely how many companies made public commitments to addressing racial disparities but question whether these efforts were sincere or simply self-serving.- International parallels - I draw some comparisons between the US and the UK using the example of insurance premiums- Personal and emotional impact - both journalists reflect on how working on the book has affected them personally, particularly how they processed their own family histories and how Ebony dealt with personal loss during the writing of the book.About the bookA sweeping, narrative history of Black wealth and the economic discrimination embedded in America's financial system.The early 2020s will long be known as a period of racial reflection. In the wake of the police killing of George Floyd, Americans of all backgrounds joined together in historic demonstrations in the streets, discussions in the workplace, and conversations at home about the financial gaps that remain between white and Black Americans. This deeply investigated book shows the scores of setbacks that have held the Black-white wealth gap in place--from enslavement to redlining to banking discrimination--and, ultimately, the reversals that occurred in the mid-2020s as the push for racial equity became a polarized political debate.Fifteen Cents on the Dollar follows the lives of four Black Millennial professionals and a banking company founded with the stated mission of closing the Black-white wealth gap. That company, known as Greenwood, a reference to the historic Black Wall Street district in Tulsa, Oklahoma, generated immense excitement and hope among people looking for new ways of business that might lead to greater equity. But the twists and turns of Greenwood's journey also raise tough questions about what equality really means.Seasoned journalist-academics Louise Story and Ebony Reed present a nuanced portrait of Greenwood's founders--the entertainment executive Ryan Glover; the Grammy-winning rapper Michael Render, better known as Killer Mike; and the Civil Rights leader and two-term Atlanta mayor, Andrew Young--along with new revelations about their lives, careers, and families going back to the Civil War. Equally engaging are the stories of the lesser-known individuals--a female tech employee from rural North Carolina trying to make it in a big city; a rising leader at the NAACP whose father is in prison; an owner of a BBQ stand in Atlanta fighting to keep his home; and a Black man in a biracial marriage grappling with his roots when his father is shot by the police.In chronicling these staggering injustices, Fifteen Cents on the Dollar shows why so little progress has been made on the wealth gap and provides insights Americans should consider if they want lasting change.  Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Keir is a leading silk who represents clients facing heavyweight criminal allegations. Keir also sits as a Recorder [part-time Crown Court judge] and is a training tutor for the Judicial College. He has been instructed in numerous murders, industrial scale Class A drug importations and conspiracies, escape from custody cases and appeals against conviction and sentence. Keir is ranked for criminal law in Chambers UK and the Legal 500. He is ranked in Tier 1 for Fraud in the Legal 500 2024.Keir co-authored the report ‘Racial Bias and the Bench’ (University of Manchester, 2022) and is now an Honorary Senior Lecturer in Law at the University of Manchester. He is a founding member of Art Not Evidence. He currently represents a total of 4 defendants who are appealing convictions for murder or conspiracy to commit GBH. In each case the prosecution relied on rap or drill music to help prove gang membership.Renowned defence barrister and part-time Crown Court judge, Keir Monteith, shares insights from his extensive career spanning over 30 years. He discusses his involvement in, ‘Racial Bias and the Bench’, a comprehensive report on institutional racism within the justice system, co-authored with academics at the University of Manchester. Together, Shereen & Keir discuss the following issues:Evidence of Institutional Racism in the Justice SystemKeir highlights the findings of the report, revealing shocking statistics from surveys sent to lawyers and judges. He emphasizes the prevalence of racial bias in court decisions, citing examples where judges trivialized the experiences of Black individuals and perpetuated harmful stereotypes.Challenges to Addressing Racial BiasKeir challenges the notion that increased representation alone can mitigate racial bias, advocating instead for structural reforms and accountability measures for prosecutors and judges. Campaign Against Music Evidence in CourtKeir shares his involvement in the campaign against the use of music evidence in criminal trials, urging legal professionals to actively combat racial bias and dismantle systemic inequalities within the justice system.In conclusion, Keir emphasises the importance of calling out racism in court proceedings and advocating for anti-racist approaches to effect positive change. Despite the challenges, he remains hopeful that with continued efforts, the legal profession can work towards a more equitable and just society.  Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Michelle has 30 years’ experience in the NHS and 26 years as a registered nurse and has a particular interest in health inequalities. As a Black nurse she has shone a light on issues affecting not just Black and other racially marginalised communities, in her hometown of Liverpool, but has led on a number of national programs to elevate understandings around equality, diversity and inclusion, ensuring that challenges are addressed and learning embedded throughout NHS organisations. Michelle is more than passionate about challenging discrimination and injustices and has often used her platform as a nurse. Until recently she was the chair of Steve Biko Housing Association ensuring that the elderly and vulnerable in the local community have access to quality affordable homes free from race discrimination. She has recently returned from her second medical mission in Ghana. Her first was in 2022 to Sierra Leone which Michelle describes as an enriching experience With 30 years of service, Michelle shares her journey from childhood dreams of nursing to confronting the harsh realities of institutional racism within the healthcare system. Michelle's experiences, highlight the persistent challenges faced by Black professionals in healthcare. Despite her dedication and achievements, Michelle recounts instances of professional exclusion, criticism, and gaslighting, reflecting broader systemic issues of discrimination and inequity.The conversation delves into the deeper complexities of racism within the NHS, including the underrepresentation of Black individuals in leadership positions and the barriers encountered in addressing systemic issues. Michelle's candid accounts shed light on the emotional toll of navigating these challenges and the importance of self-care and support networks in resilience-building.However, amidst adversity, Michelle remains a staunch advocate for change, emphasising the need for courageous conversations and concerted efforts to dismantle entrenched biases and create a more inclusive healthcare environment. She encourages individuals to speak up, seek support, and champion equity and justice within their organisations.  Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Dr. Kim McLear is a liberation activist and organiser. She is a former whistleblower and State of the Union guest of honour who exposed one of the largest cover-ups of racism in U.S. military history.Join Shereen Daniels as she introduces Dr. Kim McLear, a remarkable individual, who has courageous story. Dr. McLear reflects on her upbringing and the unexpected path that led her to a career in the Coast Guard. She opens up about the challenges she faced within the Coast Guard Academy and her efforts to address these issues, which ultimately led to her testifying against them in 2019, in Capitol HillIn this episode, we discover how Dr. McLear's unwavering determination propelled her forward in the face of adversity. Through a series of obstacles and setbacks, she remained steadfast in her pursuit of systemic change, and has become a source of inspiration to individuals both in and outside of the military. Dr. McLear shares valuable insights gained from her journey, offering guidance for those navigating similar challenges. Her story serves as a testament to the transformative power of resilience and collective action, that will leave listeners with a newfound sense of hope and determination.  Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Nicholas Marcus Thompson is a human rights advocate and influential figure in the fight against systemic discrimination in Canada. He has been at the forefront of advocating for the rights of Black Canadians, most notably through organising the landmark $2.5 billion class action lawsuit against the federal Government of Canada, which led to profound changes in Canada’s employment legislation. He is the Chief Executive Officer of the Black Class Action Secretariat. Nicholas shares his journey of taking bold legal action against the Canadian government, challenging the status quo and demanding accountability for institutional racism. Together with Shereen, they delve into the pressing issue of systemic anti-black racism within Canada's federal public service, such as:The harsh realities faced by Black Employees in Canada’s Public ServiceThe need for accountability, beyond simply acknowledging harmThe significance of disrupting systemic injustices; andThe power of grassroots activism in driving meaningful change.Throughout this conversation, Nicholas and Shereen emphasise the ongoing struggle against systemic racism and urge listeners to join the fight for a more equitable future. Tune in to learn more about this necessary class action lawsuit and gain inspiration to make a change in your corner of the world. Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Dr. Gillian Marcelle leads Resilience Capital Ventures LLC, (RCV), a boutique capital advisory practice specialising in blended finance. She has a proven track record in attracting investment and focuses on telecoms, fintech, renewable energy and regenerative agriculture. Dr Marcelle developed the Triple B Framework to improve flows and allocation of capital in its multiple forms; this provides a platform for engaging in the finance and investment world, where her contributions and perspectives on diversity, inclusion, accountability, and alignment with the SDGs are becoming influential.Drawing from her background in economics and social justice, Dr Marcelle: challenges the fundamental assumptions of capitalism, highlighting its role in perpetuating systemic racism and inequality. She advocates for a holistic approach to addressing these issues, emphasizing the importance of diverse alliances, activism, and narrative change. discusses the need for a collective movement to dismantle entrenched power structures within the financial sector. outlines why grassroots organising, community engagement, and education is vital for fostering inclusive economic growth. Throughout the conversation, Dr. Marcelle also shares her experiences navigating the complexities of finance and investment, offering practical strategies for challenging ignorance, and unlocking capital for marginalised communities.  If you wish to engage with Dr Marcelle's work, do check out The Levers of Change (LOC) Project. It aims to address racial and economic inequality in America by undertaking fundamental analysis of root causes, providing strategic advice to stakeholders and pursuing direct action to change systems. The Action Agenda arising from this research study includes: Movement building● Bring together multiple, diverse stakeholder groups including women, people of color, workers, and other marginalized groups to address the current epoch of multiple crises, to action restructuring the economy and advancing racial and economic equity. Engagement● Engage the business world based on original and challenging conceptual frameworks including the Curb-Cut Effect, the Triple B Framework, and Centering Blackness. Use these approaches to systems change and new world making, to advance the agenda of restructuring and transforming business and society. Embodied justice praxis● Involve white-bodied leaders in transformative embodied justice practices that expose and challenge “blindspots”, change norms, and establish values that lead to social justice and freedom for all. Until mental models, values, and understandings of business in relation to other parts of society are transformed, there will be little meaningful change.● Value all stakeholders, not only shareholders; this is a necessary shift to bring about equitable societies in which all can flourish. Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

Tejal joined the SOC Investment Group in 2016 as Corporate Governance Director, where she focused on shareholder advocacy issues including the opioids crisis and racial equity audits.  In her current role, she has worked with investor coalitions to develop strategies for issuer engagements, shareholder proposals, director accountability, and asset manager outreach.  She currently serves as a director and the Labor Constituency Co-Chair for the Council of Institutional Investors (CII) and previously served on the U.S. Asset Owners Advisory Council from 2019-2021.  She holds a J.D. from the University of Connecticut School of Law and a MSc. from the London School of Economics.  In this week's episode, we explore the delicate balance between setting meaningful goals and the resistance encountered when calling for a deeper, more substantial commitment to racial equity and implementing preventative measures. We also talk about:- Corporate accountability and what it looks like when you have an outsider influencing internal accountability and disclosures- Translating of social issues into business risk- The three types of resistance faced by financial institutions who are required to undergo a racial equity audit - Pitfalls of diversity and inclusion (in the way forced or advocated by the companies themselves)- The cost-benefit analysis of conducting racial equity audits versus facing fines for discriminatory practices. The numbers for the latter will astound you! Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

In 2023, Stuart co-authored ‘The Adventure of Sustainable Performance: Beyond ESG Compliance to Leadership in the New Era’, exploring the role of leaders in shaping a new era for business and in driving performance as the world transitions to a net zero future. Stuart has led Anthesis through two rounds of private equity ownership, the latest of which was with Carlyle and Tikehau in August 2023.In this episode, Stuart and I delve into the evolving landscape of sustainability. We begin by tracing the origins of sustainability, rooted in environmentalism, and observe its evolution into a comprehensive framework that integrates social and governance considerations. Other discussion points include:The pivotal role of regulations such as the Corporate Sustainability Reporting Directive in driving corporate accountability and promoting sustainable business practices.How organisations are navigating the shifting paradigm of ESG being treated as a of a core value rather than mere a compliance requirement. The significance of stakeholder engagement and transparent communication in fostering trust and credibility in sustainability efforts.The concept of stakeholder capitalism and its implications for businesses worldwide. The need for organisations to adopt a long-term perspective that prioritises environmental and social impact alongside financial returns.Ultimately, we both advocate for organisations to integrate sustainability into their core business strategies as an opportunity to operate in fairer ways and build their 'resilience' muscles. Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

For more than 15 years, Terry Thornton has been building and launching programs in ESG (Environmental, Social, and Governance) and sustainability, reaching more than 15,000 professionals worldwide.In this episode we explore the multifaceted landscape of sustainability and ESG (Environmental, Social, and Governance) practices. They delve into key topics such as:How racial equity connects with sustainability using the HR rewired Racial Equity Assurance Index as an exampleThe implications of the Corporate Sustainability Reporting DirectiveNavigating stakeholder relationshipsThe complexities of ESG ratings and benchmarkingImportance of aligning business goals with societal and environmental objectives and integrating sustainability into core business strategies for long-term value creation; andEmerging trends in sustainable finance and evolving regulatory landscapeTerry also shares valuable strategies for prioritising stakeholder engagement and discusses the evolving role of corporations in driving sustainable practices. Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!

To genuinely do the right thing for people and the environment, in this context, is to ask uncomfortable questions about how our business practices, the way we conduct ourselves as individuals, entities and institutions has contributed to harm.Can we do differently just be tweaking round the edges?What opportunities can we seize if deconstruct the ways we do business and rewrite some of the rules about who we work with to affect change on a bigger and quicker scale?What other metrics can we use to measure how far we have done differently? Subscribe/follow on all major podcast platforms including Apple, Spotify and Audible, for more bi-weekly insightful conversations and if you feel compelled, leave us a comment as I appreciate all feedback!