MAY 24, 2021 Have businesses kept their promises for racial justice? NPR Marketplace. Alice Gabidoulline, Impact Investing Intern, University of Michigan.
On NPR's Marketplace program broadcast May 24th, 2021, Kristen Schwab interviewed Mr. William Michael Cunningham, CEO of Creative Investment Research, and Ms. Gita Rao, who teaches social-impact investing at MIT. They spoke about the current state of corporate diversity pledges, especially remembering the murder and legacy of George Floyd one year ago tomorrow. Mr. Cunningham stated the need for an independent trust to create accountability for corporate pledges. While corporations pledged $55 billion to-date, the amount spent has only reached $250 million. Ms. Rao further noted that corporations should have a standardization of disclosure with regards to reporting diversity practices. As the landscape of corporate political and social involvement evolves, Mr. Cunningham and Ms. Rao highlight the increasing need for a framework of accountability in this space.