In a positive step for social justice, the employment gap between black workers and white workers has reached a historic low. In honor of Black History Month, the impact investment team at Community Capital Management is increasingly (albeit it cautiously) optimistic about the forward progress toward racial equality in America.
Acknowledging that jobs is only part of the equation, Felicia Wong, president of the Roosevelt Institute, a liberal think tank, recently told Bloomberg that she believes the racial wealth disparity is the product of accumulated disadvantage over time -- which is why short-term economic gains aren’t enough to bridge divides. It has “more to do with the historical exclusions from education, the housing market, the labor market and ultimately capital acquisition that African-Americans have had relative to whites.”
In partnership with our clients, CCM is committed to directing capital toward initiatives that contribute to positive environmental and social outcomes.
Many of our 17 investment themes touch upon components Ms. Wong outlines as critical to solving racial wealth disparity including affordable housing, education/childcare, and minority neighborhoods. If you or your clients are interested in learning about impact investing opportunities that look to make a positive impact while also seeking superior risk-adjusted returns, we would welcome the opportunity to talk further.