The People’s Davos: How the Global Black Economic Forum is Shaping a New Vision for the Future of Democracy
A Strong Democracy Needs Inclusive Opportunity
In recent years, we have seen a coordinated effort to combat the progress corporate America has made in diversity, equity, and inclusion (DEI). In response to conservative investors and right-wing pundits, some organizations and Fortune 500 companies, have reportedly scaled back or dismantled DEI programs designed to open previously closed doors of opportunity to women, people of color and other underrepresented groups. States like Florida, Texas, Iowa and Utah have even enacted anti-DEI legislation narrowing pathways of inclusion in schools, colleges and workplaces. But these efforts do not represent most Americans and corporate leaders who remain steadfast in promoting equal opportunity.
That fact was reinforced by a recent study from the Global Black Economic Forum (GBEF) conducted in partnership with Korn Ferry Institute. From Moment to Movement: DEI at the Tipping Point, found that “Over the past five years, financial services saw a 64% increase in specific DEI roles, and advanced tech firms experienced an 89% rise, based on Korn Ferry’s analysis of nearly 5400 public companies. This shift contributed to improved brand recognition, higher employee engagement, and organizational growth, including increased revenue and stock prices.” The report underscores the importance of embedding diversity, equity, and inclusion into the core of business operations, highlighting how organizations have a fiduciary duty to leverage DEI because the data demonstrates that it fosters innovation and drives growth.
For those of us committed to fulfilling the promise of America as the world’s great land of opportunity, we understand that disparities in opportunity for marginalized groups remain undisputed. The question we should be asking is not why there are so many retracting efforts related to diversity, equity and inclusion, but how can we reenergize the mission of social impact entrepreneurs to make meaningful progress.
That is why, the GBEF was founded in 2017. We are an international social impact enterprise focused on advancing the economic interests of the Black Diaspora and other marginalized groups. Through global summits, workplace training, leadership development, and policy advocacy, GBEF is focused on driving systemic change in four key areas: the future of work, wealth, health, and democracy.
GBEF takes inspiration from institutions like the United Nations and the Aspen Institute, hosting high-level discussions on global economic challenges, while centering the voices and priorities of the Black Diaspora. At events like the ESSENCE Festival of Culture, GBEF has earned a reputation as “The People's Davos,“ creating a convention that is accessible to all. By balancing exclusive leadership summits with public engagements, GBEF makes vital economic conversations and opportunities more widely available.
Fighting for the Future of Democracy
Last year, nearly four billion people participated in elections to select their leaders to represent them in government. Safeguarding democracy in America and around the world remains crucial to advancing economic freedom. GBEF worked with several partners to increase voter participation and safeguard our elections. Our efforts focused on voter access, civic education, and direct advocacy, particularly in marginalized communities.
The Council for Economic Opportunity and Social Justice, spearheaded by GBEF, is a coalition of 13 civil and human rights organizations that addresses systemic inequities through economic opportunity, civic engagement, and civil rights advocacy. The council collaborates on public campaigns and policy strategies designed to create lasting change for the Black Diaspora.
GBEF’s voter engagement partnerships further bolster these efforts. Collaborating with the Lawyers' Committee for Civil Rights Under Law, we jointly launched an initiative, “Ojo Asé,” to protect voting rights and train Election Protection volunteers, ensuring that Black voters can exercise their rights without interference.
Partnerships with When We All Vote and ESSENCE mobilized thousands of voters around issues like economic justice, climate change, and gun violence prevention. Additionally, GBEF’s “Paint the Polls” initiative in partnership with the Sundial Group of Companies like ESSENCE, Girls United, AfroPunk, BeautyCon, Refinery29, and New Voices Foundation provided community-oriented town halls on critical election issues impacting Black communities. More than 200,000 people participated in the inaugural town hall.
At a recent “Paint the Polls” town hall, journalist Don Lemon spoke on the fact that reproductive rights have become a key ballot issue, sparking dialogue on bodily integrity and its relevance, especially for Black men.
Protecting democracy is an international and intentional effort and GBEF has continued its commitment to supporting the expansion of women leaders in government across the African continent through financially supporting the Amujae Initiative led by the Ellen Johnson Sirleaf Presidential Center. To date, the Amujae Initiative has invested in and supported more than 42 women from 19 countries with an interest in public service.
Academy for Advancing Excellence
Through strategic partnerships, GBEF’s Academy for Advancing Excellence, is fostering an inclusive future of economic opportunity. Partnering with Fortune 500 companies and small-medium enterprises, the Academy develops leadership programs focused on systemic change. Through executive coaching and other resources, the Academy empowers Black and Brown professionals to rise as leaders, ensuring lasting change that closes gaps in access, opportunity, and representation.
Fearless Litigation
When systemic equity initiatives are unjustly threatened, GBEF stands ready to protect them in court. Representing the Fearless Fund – a venture fund supporting women of color entrepreneurs – GBEF successfully navigated a complex lawsuit challenging the fund’s mission. With 0.34% of venture capital reaching Black women entrepreneurs, GBEF’s defense of the Fearless Fund reaffirmed the importance of targeted support for under-resourced groups and sustained commitment to the success Black and Brown entrepreneurs.
Looking Forward
Having spent more than 20 years working across government, nonprofit, and business sectors, I have always been committed to driving meaningful change in the most effective and impactful ways possible. I am honored to lead GBEF at the intersection of strategic partnerships and economic opportunity, championing a new vision for the future of work, wealth, health, and democracy.
As we confront the challenges and opportunities of a rapidly shifting global economy, driving sustainable change requires moving beyond isolated efforts. It demands collective action and bold initiatives that empower communities to unlock true economic freedom.
Traditionally, social impact entrepreneurs have focused on philanthropy and isolated initiatives. At GBEF we aim to create comprehensive, long-term solutions. As a social impact leader, you are part of a community of changemakers. Together, we can amplify the impact of initiatives like the Global Black Economic Forum. We must harness our collective power to drive transformative changes through leadership, policy advocacy and community engagement.
About the Author:
Alphonso David is a civil rights attorney and the President and CEO of the Global Black Economic Forum. He brings more than two decades of experience in the private, public, and not-for-profit sectors working to advance the rights of marginalized communities through policy, legislation, litigation and advocacy.