In lieu of our weekly blog, this week we wanted to comment on the disturbing events that have taken place over the last week. As a leader in impact and ESG investing, we are deeply concerned about how everyday racism leads to systemic inequality. The troubling times we are facing are unfortunately, and sadly, not new. Many are feeling scared, angry, and disheartened.
Like all Americans, we at Community Capital Management (CCM) have been overwhelmed by a cascade of disturbing and all too familiar events in recent days. Multiple video images have thrust harsh realities about race and power in everyone’s face – even those who previously claimed to be unaware of America’s racial divisions. We can’t look away from the recurring montage that most recently runs from the murder of George Floyd in Minneapolis to the eagerness of a white woman to weaponize race against an African American bird watcher in New York’s Central Park. All happening when tens of millions of Americans are unemployed and a pandemic continues to threaten all of us and especially our most vulnerable citizens and communities.
Our firm and our clients are optimists. We believe that impact investing can help make our society work better and can be a ladder of opportunity for people who have been the victims of systemic racism and oppression. Many of the underpinnings of the practices and tools of our sector of the industry can be traced directly to the injustice of redlining in major American cities.
Believing in ourselves and the work we do does not make us immune to feelings of helplessness and despair. Impact investing is a tool but not a magic wand or an inoculation from the need to do the work of examining privilege and prejudice, no matter how hidden. Racism and discrimination have roots that go back centuries and clearly those roots are both deeper and closer to the surface than we had hoped. Our clients are leaders in their industries and communities and today America needs leadership in every arena. Long-term solutions to longstanding problems will help in the years ahead, but today we need to salute and embrace those who work to bring us closer together in a common purpose.
We appreciate your ongoing support. If you have any questions, please do not hesitate to reach out.