Nine in 10 Black Canadians said their employers made progress on anti-Black racism in 2022, according to a KPMG Canada survey of 1,001 Canadians who self-identified as Black between Dec. 21, 2022 and Jan. 9, 2023. However, three in four said they feared that a recession would hurt the career and promotion prospects of Black colleagues harder than others. (The Logic)

Talking point: Diversity, equity and inclusion (DEI) efforts have come into focus as more companies come under the scrutiny of environmental, social and corporate governance reporting. KPMG’s survey isn’t the first to note concerns about how an economic downturn could impact DEI progress. In October, the Conference Board warned that companies may be tempted to cut back on DEI efforts in a slowing economy, while pointing out that firms with inclusive workplaces outperformed the market during the 2008 recession. Meanwhile, a February 2022 report by the Canadian Venture Capital and Private Equity Association highlighted the need to build out a talent pipeline to increase diversity in leadership positions. It found that while the number of partners in Canadian VC firms from East and South Asian backgrounds rose 5.2 per cent compared to 2019, Black and Indigenous people were still underrepresented.