Daily Management Review

American Express Invests ‘$1 billion’ For Diversity And Inclusion


The protests against racial injustice that took place earlier in the year has pushed several corporate giants to take a pledge for the cause.

American Express Co has informed about its investment of “$1 billion” to promote gender as well as racial equality, whereby joining other U.S. companies to pledge for social justice following the “series of race-related protests” that took place in the beginning of the year.
The said company issues credit card and is based out of New York which also informed that it has “achieved 100% pay equity for its employees”. Continuing on the same path it will also carry on the practice of hiring and retaining “underrepresented colleagues, including Black, Latinx and female colleagues”.
According to Reuters:
“The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States to $750 million annually, as well as provide grants to non-profit organizations by the end of 2024”.
Many financial firms and large banks among other U.S. companies have pledged “billions of dollars” to drive racial equality following the death of George Floyd, who was killed by Minneapolis police whereby sparking protests across the country.
Earlier this month, “JPMorgan Chase & Co JPM.N” had talked about committing “$30 billion” to propagate racial equality over the span of coming five years, whereby “marking one of the largest corporate pledges” to be made towards racial injustice post “the death of Floyd”. Here are the names of the other companies who have also pledged towards the cause:
“Home Depot Inc HD.N, Procter & Gamble Co PG.N and Coca-Cola Co KO.N. JPMorgan Chase & Co JPM.N”.