Corporations pledge $1.7 billion to address racism, injustice

by Reuters
Wednesday, 10 June 2020 01:32 GMT

A test tube with fake blood and COVID-19 label and a 3D printed Google logo are placed near an Apple Macbook Pro in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration

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Here is what companies promise to do to improve social justice and racial inequality

June 8 (Reuters) - Corporations have pledged more than $1.7 billion for racial and social justice causes amid worldwide protests over the death of George Floyd, an African-American man who died after a Minneapolis police officer pressed a knee into his neck.

Companies in the United States and across the globe have announced donations to nonprofit organizations and pledged money for internal company programs. In some cases, the companies have not yet disclosed how the money will be spent.

Here is a list of companies and their pledges:

Alphabet Inc's Google

$12 million

Google CEO Sundar Pichai wrote in a letter that the company would give $12 million to organizations working to address racial inequalities. Alphabet unit YouTube will also donate $1 million. Inc

$10 million

The world's largest online retailer announced that the funds would go to 10 organizations including the ACLU Foundation, Brennan Center for Justice, National Bar Association, Black Lives Matter and the NAACP.

Bank of America Corp

$1 billion

CEO Brian Moynihan said the four-year commitment aims to help communities across the country address economic and racial inequality.

Cisco Systems Inc

$5 million

CEO Chuck Robbins tweeted that the Equal Justice Initiative, Legal Defense Fund, Black Lives Matter and other groups would receive funds.

Coca Cola Co

$2.5 million

The Coca-Cola Foundation's grants will go to the Equal Justice Initiative, the NAACP Legal Defense Fund and the National Center for Civil and Human Rights.

Comcast Corp

$100 million

The U.S. media giant announced it will allocate $75 million in cash to organizations including the National Urban League, the Equal Justice Initiative, and the NAACP - and $25 million in media over the next three years.

Electronic Arts Inc

$1 million

The gaming company said it would fund organizations such as the Equal Justice Initiative, the NAACP Legal Defense and Educational Fund.

Facebook Inc

$10 million

CEO Mark Zuckerberg said in a Facebook post that the social networking giant is working with its civil rights advisors and employees to identify organizations locally and nationally that could use the funds.

Home Depot Inc

$1 million

The home improvement retailer said it would contribute $1 million to the Lawyers Committee for Civil Rights Under Law.

Intel Corp

$1 million

The chipmaker said it would support nonprofit organizations including the Black Lives Matter Foundation and the Center for Policing Equity.

Lego Group

$4 million

The Danish toymaker pledged $4 million to support black children and to educate all children about racial equality.

Microsoft Corp

$1.5 million

The company said it would donate $250,000 each to Black Lives Matter Foundation, Equal Justice Initiative, Innocence Project, The Leadership Conference, Minnesota Freedom Fund, and NAACP Legal Defense & Education Fund.

Netflix Inc

$1 million

CEO and chairman Reed Hastings donated to The Center for Policing Equity.

Nike Inc

$40 million over four years and $100 million over 10 years from Michael Jordan and Jordan Brand.

Jordan and his namesake brand's announcement came after Nike pledged to support organizations that focus on social justice, education and address racial inequality.

PricewaterhouseCoopers LLP

$1 million

The company said it would give $250,000 each to the NAACP Legal Defense and Educational Fund, Dream Corps, the American Civil Liberties Union Foundation and the Center for Policing Equity.

Procter & Gamble Co

$5 million

The company's "Take On Race" Fund will support organizations like the NAACP Legal Defense and Education Fund, YWCA Stand Against Racism and the United Negro College Fund. More groups will be added, P&G said.

SoftBank Group Corp

$100 million

The Japan-based company is launching a fund to invest in "companies led by founders and entrepreneurs of color."

Sony Corp

$100 million

Sony Music Group launched a fund with support from sister entertainment company, Sony Pictures Entertainment and all other divisions to support social justice and anti-racist initiatives.

Starbucks Corp

$1 million

The coffee chain's foundation committed the sum to organizations nominated by employees promoting racial equity.

Target Corp

$10 million

The retailer said it would invest in organizations such as the National Urban League and the African American Leadership Forum.

United Health Group Inc

$10 million

The company said it would also donate 25,000 volunteer hours in response to Floyd's death and the ensuing protests.

Verizon Communications Inc

$10 million

The donation will be shared between seven different organizations including, the National Urban League and the National Association for the Advancement of Colored People (NAACP), Verizon said.

Uber Technologies Inc

$1 million

CEO Dara Khosrowshahi pledged to donate the sum to organizations such as the Center for Policing Equity and the Equal Justice Initiative.

Walmart Inc

$100 million over five years

The retailer and its foundation pledged the sum through a new center on racial equity that supports initiatives on financial, healthcare, education and criminal justice systems.

Warner Music Group Corp

$100 million

The company along the Blavatnik Family Foundation the fund to support causes related to the music industry, social justice and campaigns against violence and racism.

Yum! Brands Inc.

$3 million

The parent company of fast food chains Kentucky Fried Chicken, Taco Bell and Pizza Hut announced it is donating funds to the NAACP Legal Defense and Educational Fund, the ACLU and other nonprofit organizations fighting for social justice in Louisville, Kentucky. (Reporting by Nivedita Balu and Aishwarya Venugopal in Bengaluru Editing by Brian Thevenot)