There is an upsurge of interest in racial justice, especially among investors. Many staff, boards, and institutional stakeholders are asking investors to take anti-racist action.
We are promoting racial justice.
Some investors are signing racial justice pledges and making public statements. Others are increasing diversity and inclusion internally. Within portfolios, investor actions range from promoting board diversity to making investments to supporting job and wealth creation for underrepresented minorities.
Public Statements and Commitments, an essential first step for institutional investors.
Take a look at these three racial equity pledges. Each offers insight into a more profound commitment for institutional investors to strengthen their own company through involvement in anti-racism actions.
- Confluence Philanthropy’s 2020 Belonging Pledge – A Commitment to Advance Racial Equity;
- Racial Justice Investing’s Investor Statement of Solidarity to Address Systemic Racism and Call to Action; and
- The Responsible Asset Allocator Initiative at New America’s Asset Allocator Racial Equity Pledge.
As of October 2020, more than 190 signatories and partner networks representing nearly $2 trillion assets under management have signed the 2020 Belonging Pledge. The Investor Statement of Solidarity to Address Systemic Racism has support from 210 institutional investors. Meanwhile, the Asset Allocator Racial Equity Pledge is still in its startup stage.
Asset managers are also making standalone pledges to advance racial equity. BlackRock is an impressive example.
For more information on this topic, check out our next article on “Options for Racial Justice Investing” for actions needed to move the needle. Likewise, join the Community Foundation for Palm Beach and Martin Counties for “How Social Issues are Shaping Responsible Impact Investing” panel discussion on November 11th at 11.30 AM ET to learn more.