The US is grappling with its challenges on racial diversity and inclusion, and investors have a role. Goldman Sachs’ ‘One Million Black Women’ initiative, launched last week is very welcome, and a major endeavour. But the scale of the problem is such that we need to mobilise a whole army of responsible investors if we want to move this forward.
McKinsey’s diversity team recently concluded that “on the current trajectory, it will take 95 years for black employees to reach talent parity.”
This problem needs you.
Goldman last week announced a 10-year project to invest some £10bn in direct investments to “address the dual disproportionate gender and racial biases that Black women have faced for generations”. They have committed to improving the lives of at least one million black women by 2030 - a little better than that 95 years.
There is an element of philanthropy in the Goldman move (they’re throwing in the odd $100m) but it should be emph…