OutNEWS – Equality’s Summit: Big Returns Ahead

Rumors of the death of DEI have been greatly exaggerated.

With seemingly daily headlines of companies scaling back DEI initiatives, or dismantling programs altogether, data shows that the overwhelming majority of C-suite executives remain committed to DEI, and have expanded diversity initiatives in recent years. So, while some leaders may be adopting quieter approaches due to fear of backlash, the steadfast commitment to meaningful, long-term diversity efforts might actually become stronger than ever. As we enter the season of ghosts and goblins, you might say some companies are genuinely a bit spooked by Supreme Court rulings and a wave of backlash, but it seems that the demise of DEI is a bit of a phantasm.

At Mizuho, our unwavering commitment to DEI has helped us navigate this evolution. DEI is, and has been, a core value at Mizuho. Because in addition to the clear moral imperative, the business results are extremely conclusive as widely discussed at the VIP reception closing out this part of the Summit and a recent book club held by our PRIDE ERG analyzing The Economic Case for LGBT Equality. Diverse organizations with a broader range of life experiences are more effective, more resilient, and tap into a wider set of opportunities, markets, and audiences that help them realize stronger business outcomes. Having said that, there is more than one way to peel an orange, and this may be a timely opportunity to review and strengthen DEI initiatives to ensure greater inclusivity.

This was no clearer than during the Return on Equality™ Summit for Corporate Impact, especially in the CMO Luncheon proudly hosted by Mizuho Americas. It was noticeable to me (and no doubt to those reading this newsletter), that during June, there were many less rainbows along Fifth Avenue storefronts, in our commercials and on corporate logos.

In an informal survey among my fellow CDOs and DEI practitioners, it was apparent that between claims of performative rainbow washing and drawing attention from well-funded, targeted anti-DEI campaigns (rock meet hard place) companies across the board were struggling with how to visibly and meaningfully support our LGBTQ+ employees, clients and community.

Gathering CMOs to discuss this critical topic in an intimate closed-door session was our first step in addressing this challenge, sharing best practices and strengthening our resolve. DEI, along with the outside world, is always evolving. Organizations like ours are embracing this as an opportunity to reinforce our efforts in more sustainable and purposeful ways.

We know, and plenty of studies show, that a diversity of perspectives, with equitable seats at the table and an inclusive culture welcoming all voices, generates innovation, better solutions and, ultimately, greater success. Companies may just need to get more creative to meet these new challenges and what group is better partner in tackling this? That’s what we thought too!

We encourage all leaders to embrace this moment of change and commit to fostering truly inclusive environments that lead to stronger, more resilient organizations. Together with Out Leadership, we can redefine the future of DEI— eschewing the headlines and naysayers and moving beyond performative gestures to create lasting, meaningful change.

Sincerely,

Jean Lam MacInnes  
Managing Director, Head of Americas Diversity, Equity, and Inclusion
Mizuho Americas

Here’s what you need to know this week…

#1
Return on Equality™ Summit Promotes Business Growth Amid Political Challenges

The Return on Equality™ Summit for Corporate Impact buzzed with energy as business leaders gathered to explore how companies can navigate the increasingly complex social and political landscape while achieving optimal business results. Over two days of spirited discussions, participants addressed the evolving expectations of consumers and employees, emphasizing the need to align corporate values with actionable strategies. Despite the political backlash against inclusion efforts, the summit maintained an optimistic tone, reminding leaders that inclusion programs were initially adopted because they benefit the bottom line—a fact that holds true regardless of current political discourse.

Out Leadership remains uniquely positioned to guide businesses through these challenges, offering the expertise and tools needed to ensure companies stay ahead. Get the latest policy best practices and research on ESG, Next-Gen Talent, and Self-ID at outleadership.com.

Boston, MA
10 October, 2024 | Bain Capital
5:30-8:00 PM ET

Out Leadership is excited to return to Boston in partnership with Bain Capital for an important discussion about the future of work for LGBTQIA+ talent. We will share strategies to engage the next generation of leaders and will reflect on the Out Leadership Business climate index that maps what it is like to live, work, build a family and overall build a life for LGBTQ+ individuals in the US and how this reality impacts talent mobility and the fight for top talent.

Questions? Email events@outleadership.com.

#3
Mount Sinai Stands Firm: Lifesaving Transgender Care Continues Amid Right-Wing Backlash

As right-wing backlash against transgender health care intensifies across the country, Mount Sinai’s Center for Transgender Medicine and Surgery has become a beacon of hope and resilience. At a time when institutions like Boston Children’s Hospital face bomb threats and harassment for providing gender-affirming care to LGBTQ+ youth, Mount Sinai remains undeterred in its mission to offer lifesaving, compassionate treatment. This care is not just about medical procedures—it is about survival and dignity for a marginalized population that increasingly finds itself at the center of political firestorms.

Since its inception in 2016, Mount Sinai’s Center, under the leadership of Dr. Joshua D. Safer, has grown into the most comprehensive transgender health program in the world. The Center provides a full spectrum of care, from hormonal therapy to gender-affirming surgeries, addressing both physical and mental health needs. With over three million transgender individuals in the U.S., the need for these services continues to rise, even as political forces attempt to undermine their legitimacy.

The threats faced by Boston Children’s Hospital, fueled by misinformation and extremist campaigns, highlight the dangers of this current climate. Mount Sinai, however, sees the necessity of continuing its work. “We are not political; we are here to provide care,” asserts Dr. Safer, reinforcing that medical ethics demand action, regardless of external pressures. The Center’s ongoing research, which seeks to improve transgender health outcomes, and its pioneering education initiatives, such as gender-affirming surgery fellowships, further solidify Mount Sinai as a leader in this critical field.

Despite these challenges, the Center remains committed to its mission. While political rhetoric threatens to curtail access to transgender health care, Mount Sinai is steadfast, refusing to back down in the face of right-wing threats. They see this work as both a professional obligation and a human imperative—providing care that saves lives, ensures equity, and upholds the dignity of all individuals.

At a Goldman Sachs event on transgender equality, David L. Reich, the openly gay Chief Clinical Officer of the Mount Sinai hospital system, spoke with Todd Sears about the vital need for inclusive health care, particularly for transgender individuals. Reich also played a key role in supporting Out Leadership’s inaugural Trans Leadership Summit, reinforcing Mount Sinai’s commitment to advancing equity in health care.

The Georgian parliament speaker, Shalva Papuashvili, signed into law a controversial bill that severely restricts LGBTQ+ rights after President Salome Zourabichvili refused to endorse it. The legislation, introduced by the governing Georgian Dream party, bans same-sex marriage, adoption by same-sex couples, public promotion of LGBTQ+ issues, gender-affirming care, and gender designation changes in official documents. Papuashvili defended the law, claiming it is rooted in “centuries-old Christian, Georgian, and European values,” while critics, including LGBTQ+ activists, condemned it as institutional homophobia.

The law mirrors similar anti-LGBTQ+ measures in neighboring Russia and comes as Georgia prepares for parliamentary elections, seen as a move to galvanize conservative support. Activists, such as Ana Tavadze from Tbilisi Pride, have warned that the law further marginalizes an already vulnerable community, raising concerns about increased discrimination and hate crimes​.

#5
Secure Your Spot at the 2024 Board Committee Peer Exchange – November 13, 2024, Chicago, IL

Join fellow public company board directors at the premier Board Committee Peer Exchange for an unparalleled opportunity to engage in confidential, peer-to-peer learning. This off-the-record event brings together senior leaders across Audit, Compensation, Nom/Gov, General Counsel, and Board-Ready Executives, offering a unique forum to discuss today’s most pressing challenges. Attendees will walk away with actionable insights, pragmatic solutions, and an expanded network of trusted professionals. Enhance your leadership toolkit in this intimate, collaborative environment and leave prepared to drive strategic impact at the board level.

Out Leadership is proud to sponsor this event. Don’t miss this pivotal opportunity—secure your place today!

#6 Aaron Lazar’s The Impossible Dream at City Winery NYC to Benefit Project ALS

Aaron has been friends with Out Leadership Founder & CEO Todd Sears since they were 18, having lived on the same freshman hall and sung together in the a cappella group Speak of the Devil. Aaron has always been supportive of Todd, and their enduring friendship now intersects with this powerful evening dedicated to Aaron’s message of hope.

Hosted by Grammy winner and Tony-nominated actor Andrew Rannells, this special night will benefit Project ALS Research, featuring music, laughter, and inspiration. Aaron’s keynote presentation, a moving mix of heartfelt storytelling and song, has touched audiences across the nation. Visit his website for more information, including his availability for speaking engagements.

Don’t miss this opportunity to experience Aaron’s incredible message firsthand while supporting the fight against ALS. Doors open at 6:30 PM—secure your tickets today and be a part of this meaningful cause, supported by a number of Todd’s former classmates at Duke. Get tickets now, or consider donating to Project ALS Research to further support their vital work.