Inclusive Economy | June 22, 2020

Investors commit to racial justice action

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, June 22 – More than 100 institutional investors signed on to a Racial Justice Investing Coalition pledge to address structural racism.

“We recognize that the investor community has contributed to, and benefited from, racist systems and the entrenchment of white supremacy,” the group states. “We therefore take responsibility and commit to hold ourselves accountable for dismantling systemic racism and promoting racial equity and justice through our investments and work.”

The pledge is signed by a wide range of asset managers, foundations and faith-based investors, including the Interfaith Center on Corporate Responsibility, the Intentional Endowments Network, Cornerstone Capital, Trillium Asset Management, and Zevin Asset Management.

It lays out five specific actions, including engaging and amplifying Black voices, embedding a racial justice lens in organizations and decision-making, reinvesting in communities and working to advance anti-racist public policy. 

Also last week, more than 70 investors representing more than $570 billion in assets under management signed Confluence Philanthropies’ “Belonging Pledge,” committing to discuss racial equity at their next investment committee meetings and collaborating on next steps for the racial justice agenda.