American Express Releases its Inaugural Diversity, Equity, and Inclusion Report
The report outlines its progress toward its
The report also details the diversity representation of its colleagues and the company’s history of fostering an inclusive and equitable culture through real stories from colleagues, customers, and community leaders.
“At American Express, we have a longstanding commitment to fostering diversity, equity, and inclusion in our culture and in our interactions with our colleagues, customers, and communities, and we are proud of our history in this regard,” said
In re-affirming its commitment to DE&I, last year
Additional highlights from the report include:
American Expressachieved 100% pay equity for colleagues across genders globally and across races and ethnicities in the United Statesand enhanced transparency on equal pay with the disclosure of its “raw median base pay gap.”
The company also enhanced transparency of its diversity representation data by disclosing its hiring, promotion, and retention efforts, reporting that 48% of new hires globally were women, and 50% of all
U.S.new hires were racially or ethnically diverse.
American Expresshas pledged $40 millionto the Accion Opportunity Fundto expand access to loans for historically underfunded small businesses, including those owned by women and underrepresented minorities, and provided 100 Black women entrepreneurs with $25,000grants and 100 days of business resources through its partnership with IFundWomen of Color.
American Expressintroduced more than 50 new suppliers across seven different diverse business certifications, and spent more than $374 millionon services provided by diverse and minority-owned suppliers - a 7% increase from 2019.
American Expressfurthered its philanthropic support of nonprofits around the world that are led by underrepresented groups and focus on addressing inequality, providing more than $16 millionfrom 2020 through June 2021to organizations including the NAACP Legal Defense & Educational Fundand the National Urban League. It has also supported the Chinese American Planning Counciland the Hispanic Federation.
American Expresshas invested at least $25 millionin economic development in 2020 to support its communities, including a $3 millioncommitment to the CDFI Community Investment Fund, which provides capital to finance community development projects.
The complete DE&I report can be found here and additional information about American Express’ efforts to address racial inequality and social issues can be found in the company’s recently released 2020-2021 Environmental, Social, and Governance Report.
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