The ever-growing racial wealth gap is one of the country’s most persistent and pressing issues, and as it continues to widen efforts are being led to move the needle on social equity forward. Amongst the companies leading initiatives aimed at cultivating change is Deloitte US, which just invested $1.5 billion toward a social impact fund.
Through the commitment, the management consulting company will provide financial support and work in concert with grassroots organizations dedicated to advancing equity in education, healthcare, and workforce development over the next decade. Amongst the nonprofits and initiatives Deloitte will partner with are OneTen—which strives to create 1 million jobs for Black Americans by 2023—the financial inclusion-focused Black Economic Alliance Foundation and New Profit’s Health Equity Catalyze Cohort which has a mission rooted in addressing systemic inequities that impact access to quality medical care.
“Our three focus areas are inextricably linked to each other and to the opportunity for people to have prosperous lives in our society,” Kwasi Mitchell, Deloitte’s chief purpose officer, shared in a statement. “Deeply-rooted inequities are larger than any single entity can take on alone. The broader ecosystem, and those proximate to the issues and their communities, can be powerful instruments for sustained change.” Deloitte’s Deputy CEO Alicia Rose added the effort is the latest step in the company’s “deep and abiding commitment to enact lasting social change.”
Other initiatives and institutions that will be supported are the Black Directors Health Equity Agenda, Morehouse School of Medicine, Robin Hood, The Posse Foundation, Braven, World Economic Forum, and the Greater Washington Partnership.
News about the $1.5 billion investment comes months after Deloitte Digital teamed up with the United Negro College Fund for the creation of an online education platform dubbed HBCUv which was launched to elevate digital learning and build community.
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