Washington – Business Roundtable today released a report highlighting member company efforts to address the racial wealth gap. The report outlines how companies are expanding opportunity for Black and Latino communities through talent development and related partnerships, and providing economic support through investments in Community Development Finance Institutions, Minority Depository Institutions and small- and medium-sized suppliers. In addition, the report describes member company commitments to improve the diversity of their workforces through Roundtable-backed initiatives like the Multiple Pathways Initiative and the Second Chance Business Coalition, as well as through partnership with the Thurgood Marshall College Fund.
Mary Barra, General Motors Chair and CEO and Business Roundtable Chair, said:
“Business Roundtable company commitments toward economic support and talent development are proving to be powerful agents of change in the greater efforts toward closing the racial wealth gap. Though much work remains, it is encouraging to see tangible results that are putting us on the path toward an economy that creates expanded opportunity.”
This report is a follow-up to strategies Business Roundtable outlined in 2020 and provided an update on in 2021 to advance economic opportunity for Black and Latino communities. Member companies continue to make good on the organization’s 2020 commitments and, in addition, progress on additional individual commitments of their own.
This report provides examples of company commitments and their impact; outlines opportunities to do more to close the racial wealth gap; and highlights opportunities for companies to make their commitments even more impactful in coming years.
Download the full report here.