I'd love to hear answers for this. In my experience, it seems ratings are just the boss's unverified opinion.

However, I disagree with the conclusion that adding another flawed metric shouldn't be concerning.

"They mention an increase of from 3% to 5% of membership of senior black leaders. Do I think those senior black leaders earned it?"

The biggest thing is that this metric is meaningless. They don't define what the target is and why. They don't dig into the how of the increase either. If it was the policy, they have not taken a systems thinking review of it to see if it's working as expected or causing some other harm. I see no inclusion of the root issue - a pipeline of diverse candidates via schools. If the numbers are underrepresented in school, then they will be in industry too. Maybe you can juice your own company's numbers, but that simply leaving less for other companies. Figuring out diversity discrepancies in the talent pipeline (school, mainly) is the first step. Then figuring out if it's an actual problem and what the proper metrics are, is a step that seems to be glossed over. Without understanding these, there will be no meaningful progress.