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EI, LGBT Chamber mark approval of LGBTQ-inclusive corporate law
--From a press release
2021-08-02

This article shared 845 times since Mon Aug 2, 2021
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Equality Illinois and the LGBT Chamber of Commerce of Illinois celebrated approval by Illinois Gov. JB Pritzker of a legislative measure to advance diversity, equity, and inclusion on corporate boards of directors.

State law already requires corporations based in Illinois to annually report out on the race, ethnicity, and gender of their boards of directors. SB 1730 would add self-identified gender identity and sexual orientation to the existing annual reporting requirement. With this annual data, LGBTQ community stakeholders would be able to support those corporate leaders who want to identify and elevate qualified LGBTQ people to serve on their leadership boards.

Existing national data shows a stark lack of inclusion of LGBTQ people on corporate boards of directors. According to Out Leadership's February 2021 report, of the 5,670 board seats in the Fortune 500, only 25 seats (0.4%) are held by out LGBTQ+ people, and some of those seats are held by the same individuals.

Sponsored by Illinois Senate Deputy Majority Leader Emil Jones III and State Rep. Daniel Didech, SB 1730 passed the Illinois Senate 37-18 on April 21 and the Illinois House of Representatives69-43 on May 20.

SB 1730 is modeled on existing efforts to enhance LGBTQ inclusion on state boards and commissions. In 2017, the Illinois General Assembly approved a law requiring LGBTQ inclusion in the data reported out by the Governor's Office for appointments to state boards and commissions. Due to that law, LGBTQ community stakeholders have been able to collaboratively work with the Governor's Office to identify talented and qualified LGBTQ people to serve on state boards and commissions.

Brian C. Johnson, CEO of Equality Illinois:

"We thank Governor Pritzker for signing 1730 and Leader Jones and Rep. Didech for championing the bill through the General Assembly. Due to a history of stigmatization and discrimination and being forced to hide our authentic selves in workplaces and in roles of public service, LGBTQ people have been denied space at tables of power. This robs us of the opportunity to lend our strengths and talents to businesses. We also know how diverse leadership can foster workplace cultures of inclusion and advance affirming policies for workers throughout an organization or business. SB 1730 will be an important tool to advance and ensure diversity, equity, and inclusion in businesses in Illinois."

Jerome' Holston, Executive Director of the LGBT Chamber of Commerce of Illinois:

"Thank you to Governor Pritzker for signing and to the Illinois General Assembly for passing this monumental legislation. No longer will companies be able to hide behind impressive Pride month campaigns. Today's decision will allow LGBTQ+ employees and consumers to know which corporations have embraced their identity where it matters the most - the corporate boardroom. By empowering corporations to expand their definition of diversity, SB 1730 presents corporations with the opportunity to add other voices that can contribute to greater shareholder return and employee experiences. We look forward to working with Equality Illinois as they continue to serve as a partner in advancing equity for LGBTQ+ residents throughout Illinois."


This article shared 845 times since Mon Aug 2, 2021
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