World Bank Creates External Advisory Panel For Diversity & Inclusion

Ballard Spahr LLP

On March 3, 2015, the World Bank Group announced the creation of an External Advisory Panel (Panel) for Diversity & Inclusion. This announcement comes on the heels of the newly released diversity Standards, developed pursuant to the Dodd-Frank Act, which are applicable to regulated entities, including financial institutions doing business in the United States. World Bank’s announcement, while not linked directly to the new Standards, states that the Panel is intended to provide a conduit to the global community and to serve as a sounding board for advice on matters relating to diversity and inclusion. The press release is available here.

The Panel will advise World Bank President Jim Yong Kim and his senior management team on strategies to achieve a diverse and inclusive workplace; provide guidance on how to address challenges affecting WBG’s diversity and inclusion efforts; and add an external perspective to enhance the strategies and views of the WBG’s internal Council on Diversity and Inclusion.

The following six individuals were selected to be members of the inaugural Panel based on their on their commitment and contributions to diversity and inclusion in their organizations and/or the broader community: Elizabeth Adu, Former World Bank Group Director and Deputy General Counsel; Richard Bernal, Counselor for Jamaica, Inter-American Development Bank; Julius Coles, Director, Andrew Young Center for Global Leadership, Morehouse College; Indra K. Nooyi, Chairman and Chief Executive Officer, PepsiCo.; Paula Yacoubian, CEO of Integrated Communications; and Kenji Yoshino, Chief Justice Earl Warren Professor of Constitutional Law, New York University.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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