On Wednesday (10/03/21), Goldman Sachs announced it will invest $10 billion over the next 10 years to combat racial inequality and help the advancement of Black women!
The new initiative will be called “One Million Black Women.” According to a statement released by the bank, it aims to change the lives of 1 million Black women by 2030 in areas including healthcare, job creation, and education.
The large investment in the initiative would “tackle the dual disproportionate gender and racial biases that Black women have faced for generations, which have only been exacerbated by the pandemic.”
Reducing the gap in earnings for Black women would possibly create between 1.2 million and 1.7 million jobs in the U.S, the company said.
Goldman would also put aside an additional $100 million over the next decade for charitable projects aimed towards Black women.
Rosalind Brewer, chief executive officer of Walgreens Boots Alliance, and Lisa Jackson, vice president of environment, policy, and social initiatives at Apple Inc, will be a part of the advisory council on the new project.
The council will also include Marc Morial, CEO of the civil rights organization National Urban League, and a former New Orleans mayor.
In the wake of the deaths of George Floyd and Breonna Taylor last year, numerous companies promised to fight against systematic racism, donate to Black organizations and alter their policies.
“What Goldman Sachs is doing has the potential to materially impact the lives of Black women, their families, and communities across the country,” Melanie Campbell, who partnered with Goldman Sachs on the initiative, said in the statement.