(Reuters) - Goldman Sachs Group Inc (NYSE:GS) said on Wednesday it will invest $10 billion in an initiative to support Black women over the next 10 years, focusing on areas including healthcare, job creation and education.
The bank's "One Million Black Women" initiative is a part of its commitment to impact the lives of at least one million Black women by 2030, the company said.
Against the backdrop of protests over the death of African-American George Floyd last year, major companies have pledged to increase diversity, donate to civil rights groups and change their policies.
Goldman will also set aside an additional $100 million over the next decade for philanthropic ventures focused on African-American women. (https://
Reducing the earnings gap for Black women could potentially create between 1.2 million and 1.7 million jobs in the United States, the company said, citing research.
Goldman created a $10 million fund last year to promote racial equity, and had then said it invested around $200 million over the decade to organizations dedicated to serving communities of color. (https://
Rosalind Brewer, chief executive officer of drugstore chain Walgreens Boots Alliance (NASDAQ:WBA), and Lisa Jackson, vice president of environment, policy and social initiatives at Apple Inc (NASDAQ:AAPL), will sit on the advisory council of the new project.
The council will also include Marc Morial, CEO of civil rights organization National Urban League, and a former New Orleans mayor.