YTCount on Unsplash"/>
Photo by YTCount on Unsplash

In its Environment, Social and Governance (ESG) report, American Express announced that it would allocate $3 billion to a “Diversity, Equity and Inclusion Action Plan.” That is on top of the billion dollars the company earmarked in October 2020. The credit card giant announced the launch of ByBlack, a platform that verifies whether a business is majority-owned by Black people.

The report highlighted the company’s internal diversity and equity policies. For two consecutive years, American Express maintained 100% pay equity across genders. The company hires, promotes and retains women at a higher rate than men. American Express would also set aside $500 million for building more resilient and equitable communities.

The ESG Report includes a chart that says “inclusion and diversity” is of more importance to business than data privacy and security, business ethics, financial resiliency, employee health and safety, responsible investing, customer satisfaction, public policy and responsible tax practices.

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