Corporate governance has become a bit of an alphabet soup over the years–CSR,* DEIB,** and ESG*** (among other initialisms) are all part of the current practical lexicon for those of us working with businesses.  As a day celebrating the emancipation of the last enslaved Black Americans, Juneteenth, connects with so many of those acronyms in one way or another.  Businesses have been noticing.

For example, Hassina Obaidy’s June 13, 2023 article, Juneteenth in the Workplace: Why your company should celebrate, posted on the website of workplace training and compliance provider Emtrain, offers one perspective on Juneteenth and CSR.

Black Lives Matter has taught both individuals and companies what allyship can really look like. We’ve also learned that the passing of time is not enough to make real change. Companies need to support employees that come from demographics that have historically been marginalized through company policies, workplace culture, and corporate social responsibility (CSR). Giving employees a day off to celebrate Juneteenth and engage with their communities in a productive way is one step leaders can take to move the needle on CSR.

Similarly, in an article entitled Seven thoughtful ideas for observing Juneteenth in the workplace, Christina Bibby at employee benefits leader Mercer offers that Juneteenth presents an opportunity to “[o]pen company dialogues about racism and diversity, equity, inclusion, and belonging (DEIB).”  Specifically, she suggests that firms

[c]onsider sending out a focused leadership message about Juneteenth, sharing your DEIB strategy and progress metrics, or conducting Q&A sessions and listening sessions to better understand Black employee experiences at your company. You might also tap into expertise in your community by inviting internal or external guest speakers to talk about the history and significance of Juneteenth, social justice, or related DEIB topics.

And Brandy Hyatt’s piece on Juneteenth and Environmental Justice, published by nonprofit environmental advocacy organization Vote Solar, suggests several connections between environmental and social concerns.

If we take a closer look at the legacy of slavery and racism, we see that environmental justice and climate change deeply burden Black and brown communities, poor neighborhoods, and Indigenous peoples. The resulting impact exposes and exacerbates inequalities. A study from 2017 found that Black people are 75% more likely to live near a polluting industrial or services facility, leading to higher rates of premature death from pollution. In order to truly confront and end the environmental injustice, we must undo our current structures of power and control to reimagine the system to better serve historically disadvantaged communities.

There is much more that can be said here about Juneteenth and corporate governance.  But you get the point: Juneteenth, along with certain other holidays (e.g., Memorial Day, Labor Day, and Veteran’s Day), offers businesses a time to reflect and act on matters of importance to firm governance, including matters relating to a business’s relationships with its employees and greater communities.  That reflection and action may serve corporate interests in promoting, practicing, or supporting CSR, DEIB, and ESG.

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* Corporate Social Responsibility

** Diversity, Equity, Inclusion, Belonging

*** Environmental, Social, Governance