Coca-Cola announced a new diversity requirement this year, saying it will only hire law firms that meet their quota of black attorneys.
In a statement, Coca-Cola’s legal department announced they are requiring outside counsel to “commit that at least 30% of each of billed associate and partner time will be from diverse attorneys, and of such amounts at least half will be from Black attorneys.”
The 30% requirement will only grow over time. The statement went on to describe the beverage behemoth’s “ultimate aspiration” as a minimum of 50% of billed-time will originate from “diverse” attorneys, while also maintaining 25% of that time being from black attorneys.
As reported by the American Bar Association, Black Attorneys make up only 5% of all lawyers in America.
Senior Vice President and General Counsel, Bradley Graton, said “The time has come for us to stop championing good intentions and motivations, and instead, reward action and results. Quite simply, this is now an expectation.” He went on to encourage others to “view this as an opportunity to effect real systemic change.”