Racial Equity: An Issue of Risk Rather Than A Matter of Conscience with Tejal Patel

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!

Being an ally can be a massively rewarding experience and there is a ton of information out there about what it actually takes.Sometimes though, it’s the practical day to day examples that can most help put allyship into context and this is what I’ve done for the penultimate episode of this season’s Advancing Racial Equity 4.0If you’re an advocate for racial equity but aren’t in a position of influence and power within your workplace, there is still lots you can do. 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!

If we don’t tackle the structural barriers that affect entrepreneurs and business owners, we are forever leaving money and opportunity on the table. In this conversation with Alpesh Patel, we cover everything from TikTok (Business Insider called him a TikTok sensation), structural racism, entrepreneurship, trading and social mobility.We talk about how the economic argument to address structural barriers can be useful to convince certain types of people but also the importance of recognising it’s an issue of justice.Entertaining, humble and very giving in his time and expertise.You’ll enjoy this one!Alpesh Patel OBE has represented the United Kingdom since 1999 when the Prime Minister appointed Alpesh as Dealmaker to The Department for International Trade to bring outstanding tech companies to the UK, which solve the world’s biggest problems.Alpesh left being a Barrister to educate people on financial literacy for social mobility and co-founded the UK chapter of the world's largest entrepreneur mentoring organisation (Tie.org). Private Equity / Hedge Fund Founder with a focus on cleantech, sustainability, social impact.He has his own dedicated shows on Bloomberg & Sky; CNBC co-host; 5 years Financial Times columnist. Co-Chair Loomba Trust for widows and orphans.OBE in 2020 for services to the Economy and International Trade.(22) Alpesh Patel OBE | LinkedInAlpesh B. Patel (@alpeshbp) / TwitterAlpesh Patel (@alpeshp1) • Instagram photos and videosAlpesh Patel (@greatinvestments) TikTok | Watch Alpesh Patel's Newest TikTok Videos 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!

Why talk about this?The ‘elephant in the room’ when trying to tackle racism.This is how Black people can be complicit in the system of we don't all address our relationship with whiteness and how it impacts on how we support and act as allies to each other.Connect with me on LinkedIn - https://www.linkedin.com/in/shereen-daniels/    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 the episode notes this week, let me just share some quotes from Amanda and Anastasia. If this doesn’t want to make you listen in, I don’t know what will!“When we do see the Black woman, she’s always adjacent to the white women’s hero journey.We are fed these images so often we never question the underlying message it portrays.” - Amanda“The historical awareness of the relationship between Black and white women means as a white woman, I should always be asking myself: what do I bring to the table? It’s a question of reciprocity.” - AnatasiaAmanda Bennett is an educator, consultant, and writer living in Durham, North Carolina. As an educator and storyteller, she cultivates innovative ways of using language to guide people toward internal transformation, self-awareness and social awareness. Drawing on these facilitation skills, she also works as a consultant and developmental evaluator. She outlines her framework for a Black feminist future in her poetry, essays and short fiction, which have appeared on her blog and in publications such as Jellyfish Poetry, Murder Journal, The Huffington Post and The Atlantic.Website: http://herfoolishwit.blogspot.com/ Anastasia Kārkliņa is a PhD-trained cultural analyst who helps brands build culturally intelligent, incisive, and inclusive strategy. Anastasia blends her academic expertise in cultural analysis and semiotics with interdisciplinary qualitative research methodologies to excavate human and cultural insight that is astutely attuned to emergent trends. Based at Duke University, she specializes in the study of U.S. culture and society, with a focus on racial and gender issues in contemporary media and culture. Website and  social media links:www.defineandempower.com. Instagram and TikTok at @defineandempower.co.  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!

Black feminism broadly incorporates these principles:Black women’s experience of racism, sexism and classism are inseparable.Our needs and worldviews are distinct from those of Black men and white women.There is no contradiction between the struggle against racism, sexism and all other-isms. All must be addressed simultaneously.Despite this, the work of Black feminists was co-opted for a feminism movement which repeatedly left them out. In the present day, the calls for gender equality has focused almost exclusively on white women and even in the business world, we are excluded.Amanda, Anastasia and I have a very candid and honest conversation about our experiences. In fact, we got into so much, I have split the episodes so Part B will air next week.If you recognise that your racial equity and gender representation strategy is missing the nuance of addressing Black women, this podcast episode should be compulsory listening. We bring you closer to a subject not often talked about in this way.Amanda Bennett is an educator, consultant, and writer living in Durham, North Carolina. As an educator and storyteller, she cultivates innovative ways of using language to guide people toward internal transformation, self-awareness and social awareness. Drawing on these facilitation skills, she also works as a consultant and developmental evaluator. She outlines her framework for a Black feminist future in her poetry, essays and short fiction, which have appeared on her blog and in publications such as Jellyfish Poetry, Murder Journal, The Huffington Post and The Atlantic.Website: http://herfoolishwit.blogspot.com/ Anastasia Kārkliņa is a PhD-trained cultural analyst who helps brands build culturally intelligent, incisive, and inclusive strategy. Anastasia blends her academic expertise in cultural analysis and semiotics with interdisciplinary qualitative research methodologies to excavate human and cultural insight that is astutely attuned to emergent trends. Based at Duke University, she specializes in the study of U.S. culture and society, with a focus on racial and gender issues in contemporary media and culture. Website and  social media links:www.defineandempower.com. Instagram and TikTok at @defineandempower.co.  We all have to start somewhere - find out if your organisation is as inclusive as it should be by taking our Equity and Inclusion test - https://hr-rewired.scoreapp.com/Connect with me on LinkedIn - https://www.linkedin.com/in/shereen-daniels/And don’t forget to subscribe and leave a review, if you feel inspired to do so.Ps Are you coming to the conference? https://www.advancing-racial-equity.com   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!