As national demonstrations demanding an end to racial injustice continue for a second week across the United States, several major corporations are responding to the call—and putting their money behind their statements.
Here is how several of America’s most prominent businesses are addressing the nationwide call to action.
Bank of America
On Tuesday, the second-largest bank in the United States committed $1 billion to a variety of programs that will support local communities as they address economic and racial inequality, especially in the wake of the coronavirus pandemic. The investment will bolster programs involving jobs, training, small business support, and housing, and a new emphasis on health services for communities of color. As the pandemic has lain bare, such communities still face intense disparities when it comes to accessing healthcare.
“The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live,” said Bank of America CEO Brian Moynihan. “We all need to do more.”
The tech giant has promised to put $10 million towards initiatives to combat racial inequality. It plans to support causes that will mitigate systemic inequities, like education, environmental justice, and incarceration reform.
In a memo to employees, Apple chief Tim Cook wrote: “We commit to continuing our work to bring critical resources and technology to underserved school systems. We commit to continuing to fight the forces of environmental injustice — like climate change — which disproportionately harm Black communities and other communities of color. We commit to looking inward and pushing progress forward on inclusion and diversity, so that every great idea can be heard. And we’re donating to organizations including the Equal Justice Initiative, which challenge racial injustice and mass incarceration.”
In a Sunday Facebook post, the company’s founder Mark Zuckerberg affirmed that Facebook is “committing an additional $10 million” to groups working to uphold racial justice. He has called upon his company’s civil rights advisors and employees to recommend local and national organizations they deem most worthy of the investment.
“I know that $10 million can’t fix this,” he wrote. “It needs sustained, long term effort.”
Hans Vestberg, CEO of Verizon, said Monday that the telecommunication mammoth would commit $10 million toward the cause of racial justice. In his statement, he named the following groups as beneficiaries of his company’s investment: The National Urban League, the NAACP, National Action Network, Leadership Conference for Civil and Human Rights, Rainbow Push Coalition, National Coalition on Black Civic Participation, and the NAACP Legal Defense and Educational Fund.
Having already given $2 million to the NAACP, the global entertainment juggernaut has pledged $5 million to causes that support racial justice, .
In a statement, Disney CEO Bob Chapek wrote, “The killing of George Floyd has forced our nation to once again confront the long history of injustice that black people in America have suffered, and it is critical that we stand together, speak out and do everything in our power to ensure that acts of racism and violence are never tolerated.”