The harmful and often deadly impacts of systemic racism on Black, Indigenous and People of Color (BIPOC) communities are a major focus of policy makers, governments, and civil society. While Verizon has made charitable contributions and statements of solidarity with BIPOC communities it can further address significant adverse impacts of its policies, practices, and products on BIPOC communities. Several aspects of Verizon’s business suggest a racial equity audit could help mitigate reputational, regulatory, legal, license to operate, and human capital risk. A workplace culture that promotes and fosters diversity, equity, and inclusion (DEI). Investors and stakeholders increasingly want to understand equity and inclusion efforts from companies. Releasing diversity data is now considered a baseline request that helps to meet DEI objectives but does not provide critical information on workforce retention and promotion. In recent years Verizon employees have filed complaints1 regarding the company’s workplace that included claims that Verizon enables a work environment where white managers have engaged in racially discriminatory behavior and retaliation toward a predominantly black workforce. While Verizon may have worked to resolve these incidents, the company is exposed to future allegations of discrimination if it is only reactive to these events.Product sales can be affected from reputational risks and affect the ability to hire and maintain a diverse workforce or locate corporate facilities in certain communities.2 Verizon’s public policy involvement may put the company’s credibility on its commitment to DEI at risk. Verizon does not clearly report on how the company makes decisions in areas including government affairs activities including lobbying and trade associations.Reputational issues extend to the fiduciary obligations of boards of directors to their shareholders to preserve and enhance the company’s value. Verizon’s board seat on organizations whose mission and activities may be at odds with Verizon’s own positions on inclusion can jeopardize a company’s reputation. Verizon’s board membership to the Boston Municipal Research Bureau drew concern from stakeholders for allegedly spreading misinformation running up to a vote on a more inclusive and participatory budgetary process.3 Major public companies and institutional investors are recognizing the benefits of conducting racial equity audits.4 By conducting a racial equity audit, Verizon can identify potential concerns across its business lines and activities as stated above as well as: AI software that is inherently biased; discriminating on social media platforms; marketing containing discriminatory content; offering lesser customer service or charging higher prices to members of the LGBTQIA or BIPOC communities.