In October 2020, Business Roundtable released a report outlining strategies to advance economic opportunity for Black and Latino communities. The report noted that while progress has been made in many areas to curb racial inequities, racial wealth gaps and a lack of economic mobility persist in communities of color. Business Roundtable companies issued a set of commitments around community development and finance, support for small business, and partnerships with institutions like the Thurgood Marshall College Fund to advance greater economic opportunity.
Business Roundtable member companies continue to make good on the organization’s October 2020 commitments, and a number of them have made additional individual commitments. The dual focus of Business Roundtable member companies on economic support and talent development has been a powerful catalyst for expanding broader economic opportunity.
Though much has been done, there is still more to do. This report catalogues some company commitments and their impact; outlines opportunities to do more to close the racial wealth gap; provides insights into the impact of member company efforts to advance economic opportunity and talent development for Black and Latino communities; and highlights opportunities for companies to make their commitments even more impactful in coming years.