American Express has announced its action plan to advance its diversity, inclusion and equity priorities.

The plan includes a series of internal and external initiatives, commitments and resources, supported by $1bn in investments toward enhancing diverse representation and equal opportunities for its colleagues, customers and communities.

Fostering an inclusive and welcoming workplace

“American Express has a long-standing commitment to fostering an inclusive and welcoming workplace that reflects the diversity of the customers and communities we serve,” said Stephen J. Squeri, chairman and chief executive officer.

“Central to this commitment is standing up against racism and eliminating barriers that have prevented people of all racial, ethnic and gender identities from having equal opportunities to pursue their aspirations. To build on the foundation of work we are doing to drive inclusion, equity and diversity, we are announcing several actions today to advance our progress against our priorities, with clear objectives and goals for which we will hold ourselves accountable,” Squeri added.

To develop and execute on the next phase of the company’s strategy, earlier this year, American Express formed the Office of Enterprise Inclusion, Diversity and Business Engagement, which will be responsible for driving these programs and measuring the company’s progress against its objectives.

“American Express is built on relationships based on trust and respect”

“American Express is built on relationships based on trust and respect, and by embedding inclusion and diversity into everything we do,” said Robert Childs, Executive Vice President of the Office of Enterprise Inclusion, Diversity and Business Engagement.

“We are committed to mobilizing our collective resources across the company to make an even greater impact for our colleagues, customers and communities. Our goal is to eliminate barriers that have made it more difficult for underrepresented groups to have equal access to economic and social opportunities,” he said.