Investing in Ethnicity & Race - speech by Mark Carney

Given at the Investing in Ethnicity & Race Conference 2019, Bank of England
Published on 28 March 2019

Bank of England hosts ‘Investing in Ethnicity & Race’ conference and signs Race at Work Charter

The Bank of England today hosted an ‘Investing in Ethnicity & Race’ conference, which the Governor opened. The conference brought together over 100 executives, BAME future leaders, employee networks and inclusion professionals, to discuss and create action plans to eliminate barriers to progression and improve retention for BAME employees.

To pursue its mission, Bank of England must reflect the diversity of the people it serves. We have made considerable efforts in recent years to enhance diversity in all its forms. These initiatives are set out in detail in our annual report, and letters from the Governor to the Chair of the Treasury Committee on 4 July and 19 March.

The Bank of England is also proud to announce today that it is signing the Race at Work Charter, an initiative recently launched by Business in the Community in partnership with the UK Government.

The Race at Work Charter consists of five principles to ensure organisations address the barriers to Black, Asian, and Minority Ethnic (BAME) recruitment and progression. As a signatory, we have committed to:

  1. Appointing an Executive Sponsor for race
  2. Capturing data and publicising progress
  3. Ensuring zero tolerance of harassment and bullying
  4. Making equality in the workplace the responsibility of all leaders and managers
  5. Taking action that supports ethnic minority career progression

The Bank already has all five initiatives in place.

Commenting on the Charter, the Governor of the Bank of England, Mark Carney said:

“I am very pleased to sign the Race at Work Charter today, which is another step to demonstrate the Bank’s ongoing commitment to achieve a transformation in this area and to deepen progress on diversity and inclusion more generally.

Over the last five years we have made significant progress in increasing diversity and fostering inclusion. More recently, we have reinforced these initiatives with a focus on further improving the retention and progression of BAME colleagues in particular.

Our strategy has had a material impact on all aspects of diversity at the Bank. I look forward to further progress.”

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