time to read 1 minutes

Goldman pledges $10b in support of Black womenINTL

Goldman pledges $10b in support of Black women

Goldman Sachs is pledging $10b over the next 10 years to support the advancement of Black women as part of an initiative called “One Million Black Women”. It will target matters where racial equity is still a major issue, such as job creation, access to capital, and healthcare. A dedicated fund will also be deployed to invest in ventures led by African-American women.

The bank is working together with organizations spearheaded by Black women in order to achieve the goal. 

Big lenders and corporations are under pressure to act against systemic racism. And so, lots of companies have introduced diversity initiatives lately, especially in the wake of the Black Lives Matter protests that engulfed America in the last year.

why it matters
Goldman Sachs’ own research concluded that reducing the pay gap between Black women and white men could increase the US’s GDP by up to $450b a year. Hopefully, others will adopt similar measures to help drive real progress.