Food company Mondelēz International announced today the launch of a series of broad ranging, multi-year diversity and inclusion commitments. The company stated that the plan is designed to accelerate the its existing D&I efforts, and aims to make meaningful impacts in the area of racial equity economic empowerment around the world.

Dirk Van de Put, Chairman and CEO of Mondelēz International, said:

“Mondelēz International is committed to building a more diverse, inclusive and equitable world, both socially and economically. As a global company, we know that diversity in all its forms is a driver of innovation and growth and we must reflect the diversity of our consumers to deliver stronger business performance as we lead the future of snacking.”

Diversity and inclusion have increasingly come into focus on company’s sustainability agendas in recent months. Investors and legislators have also ramped up demands on companies to improve their D&I profiles and efforts.

Mondelēz’s new D&I initiatives are aimed at addressing racial equity and economic empowerment both inside and outside the company, focusing on the three key categories of Colleagues, Culture and Communities.

The company has committed to double Black representation in U.S. management by 2024. Mondelēz has implemented a series of actions across its business, including increasing the presence of underrepresented candidates on interview slates, doubling investment in early career programs, including with Historically Black Colleges and Universities, and establishing new mentoring and leadership development programs for people of color.

The company will also appoint a Global D&I Officer who will be accountable to the CHRO, CEO and Board of Directors for advancing this important agenda.

On the culture front, Mondelēz stated that it will invest in building cultural competences for all employees and will include D&I performance metrics in business unit and functional goals. Additionally, the company plans to mobilize its consumer-facing brands and leverage its partnerships with agencies and advertising platforms to drive change, equity and inclusion. It will also honor Martin Luther King Jr. Day as a paid U.S. Holiday and recognize Juneteenth with a U.S. day of service.

In order to promote economic inclusion for underrepresented communities, Mondelēz announced that it is committing to spending $1 billion with minority and women-owned businesses globally by 2024, and to foster partnerships to support underrepresented communities across every business unit. Today’s announcements include a multi-year signature partnership with Boys & Girls Clubs of America to help close the opportunity gap for youth, and the establishment of a signature multi-year college scholarship program for underrepresented youth in the U.S.

Glen Walter, EVP & President, North America, said:

“In a world that can seem more divided than ever, our business and our brands have the power to bring people together and take a stand on this important issue. We are confident that we can make a true and meaningful impact over the short and long term, and we will continue to evolve and refine our plans to ensure we are driving, positive, lasting and much-needed change on the issues of racial equity and inclusion.”