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Starbucks
The famous US chain “Starbucks” established a $ 100 million fund to invest in community development projects and small businesses located in black, indigenous and people of color neighborhoods.
The fund, called the “Community Resilience Fund”, is part of a larger “Starbucks” plan to achieve social and ethnic justice, especially in areas where the company’s coffee shops are located, according to the US network “CNBC.”
And last June, during the “Black Lives Matter” rallies, the Starbucks Foundation pledged $ 1 million in grants to neighborhoods, joining several companies that said they would provide money to combat racism.
The foundation ended up providing additional grants of $ 500,000 in grants.
The famous coffee chain also investigated its internal conditions, in order to diversify its workforce by setting management goals and linking executive rewards to achieving those standards.
Starbucks intends to spend $ 100 million over the next four years in about 12 American cities, which have black, Indian and people of color residents.
And the cities, according to a “CNBC” report, are Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York, Philadelphia, San Francisco Bay Area, Seattle, Washington, DC, and Philadelphia.
The money will go to financial institutions, such as Community Development Finance Institutions, that provide financial services to low-income people. Ultimately, small businesses and neighborhood development projects are assumed to be the beneficiaries of this program.
“We know these communities,” said Rose Pryor, Starbucks chief operating officer. These are some of our business partners, and in some cases they may even be a small resource for Starbucks. “
“So when you think about it, but you can’t help but sympathize with them, you want them to prosper too, but we also understand what they’re going through,” Pryor said.
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