The Christian Science Monitor, November 3, Corporations Pledge to Fight Racial Inequality. Will it Work?
National attention has been brought to narrowing racial inequality and fighting racial injustice, after the death of George Floyd and in the midst of the pandemic. With this, several large corporations have announced improvement efforts being made for racial inclusion and diversity in their own workplace.
The online announcement had the usual lineup. Mayors and educators spoke about the importance of career readiness grants for Black and Latino residents in their cities. What was unusual about Tuesday’s event was the host, which wasn’t a foundation or the federal government.
It was JPMorgan Chase, America’s largest bank.
For several minutes on-screen, CEO Jamie Dimon talked about the need to address the nation’s long-term racial inequality through better career-prep in schools. The bank’s philanthropic arm is committing $35 million to a five-city, five-year effort to improve career readiness in underserved communities, part of a much larger corporate effort to tackle racial inequality. “To fix the problem, you’ve got to acknowledge it,” said Mr. Dimon, who is one of the many white Fortune 500 CEOs deploring America’s persistent racism.