- Connecticut Office of the Treasurer announces that coalition of 18 financial institutions established by the office has set four commitments for improving economic and racial equity
- Goal of creating a $30 billion economic impact on communities of color over the next five years
- Initiatives will include increased spending on businesses owned by people of color, increased workforce development opportunities, and bolstering programs to assist underserved communities
By Dirk Langeveld
A coalition of financial institutions established by the Connecticut Office of the Treasurer has announced four commitments to improving economic and racial equity, with a goal of creating a $30 billion economic impact on communities of color over the next five years.
Corporate Call to Action: Coalition for Equity & Opportunity, which was launched in September, consists of 18 of the nation’s leading financial institutions – including the Connecticut-based firms Bridgewater Associates and The Hartford. The Ford Foundation is also a partner in the effort.
- Commitments include a diversification of suppliers and business services across the financial sector, investments in underserved communities, developing a diverse talent pipeline, and improving workforce equity and transparency
- Specific initiatives include an aggregate of $10 billion in investments to increase spending on businesses owned by people of color, more than 10,000 internships and workforce development opportunities for Black and Latinx individuals, and launching or scaling programs to partner with and invest in underserved communities
