You are here: Home » International » News » Companies
Business Standard

American Express commits $1 bn to promote racial, gender equality

The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States, as well as provide grants to non-profit organizations by the end of 2024

Topics
American Express card | Racial attacks | Gender equality

Reuters 

American Express credit cards

(Reuters) - American Express said on Thursday it was investing $1 billion to advance racial and gender equality, the latest in a line of U.S. pledging to promote social justice after a series of race-related protests earlier in the year.

The payment services operator said it would work to achieve 100% pay equity for its employees, as well as promote practices to hire and retain underrepresented colleagues, including

Black/African American, Latinx and female colleagues.

The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States, as well as provide grants to non-profit organizations by the end of 2024.

Several U.S. had pledged billions of dollars to promote racial equality after the killing of George Floyd, a black man, by Minneapolis police sparked protests across the country earlier in the year.

that rushed to take a stand included Home Depot Inc , Procter & Gamble Co and Coca-Cola Co. JPMorgan Chase & Co recently made a $30 billion commitment over the next five years.

 

(Reporting by Ambar Warrick in Bengaluru; Editing by Maju Samuel)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 29 2020. 21:56 IST
RECOMMENDED FOR YOU
.