Opinion: The 2-cent solution to close the racial wealth gap: A call for U.S. companies to invest in Black communities
If just 2 cents of every dollar earned by U.S. corporations was reinvested in Black communities, the racial wealth gap would close at a pace and scale never before seen in this country. Referred to as “The 2% Solution,” this premise, championed by Vista Equity Partners founder Robert Smith is bold, yet simple. He proposes …
Building supportive ecosystems for Black-owned US businesses
Black business owners have been disproportionately affected by the pandemic-linked economic downturn, partly because they were more likely to already be in a precarious position, including more likely to be located in communities with business environments that are more likely to produce poor business outcomes. Indeed, about 58 percent of Black-owned businesses were at risk …
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Investing to Advance Racial Equity: Second Edition
Since we published the first edition of this report in 2018, there has been a widespread increase in the general public’s awareness about structural racism and the many ways people of color have been systematically denied access to social and economic opportunity since the earliest days of European arrival to what is now the United …
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Fortune 100 companies commit $1.6 billion to fight inequality
The 100 largest U.S. companies have so far committed $1.63 billion to organizations fighting racism and inequality, according to company announcements and an Axios analysis. What’s happening: Since protests began over the death of George Floyd at the hands of Minneapolis police officers, companies have released statements of support for black communities and pledged donations to …
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Have We Reached The Tipping Point In Racial Equity Investing?
In the past few weeks, racial equity and justice have been the central rallying cry, across the world. This has prompted many individuals and institutions to speak out against racial injustice, not least in the investing industry. On June 10, Confluence Philanthropy, a membership network of foundations and impact investors, launched a pledge for racial equity. The pledge …
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An Investors’ Guide to Investing for Racial Equity
From taking a knee, to blacking out our social media, to raising our fists in protest, many of us are experiencing outrage, frustration, anguish and empathy for all that is unfolding in our country. From committing to learn about white privilege, to taking steps to dismantle systemic racism and white supremacy, to donating to organizations supporting racial …
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For every dollar of white wealth in the US, Black families have 12 cents
Staying accountable Getting to zero. Last week, a group of prominent American CEOs, nonprofit executives, and academic leaders launched NinetyToZero, an initiative aimed at eliminating the racial wealth gap through “deliberate, collective action.” The typical Black American family has just one-eighth the wealth of a white family, according to the US Federal Reserve-and the gap has remained about the same …
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