July 13

How You Can Invest in Racial Justice

By Dylan Walsh

In 2016, the average white family had a net worth of $171,000. Divide that figure by 10 and you get the net worth of the average African American family. A half-century ago, the wealth gap looked virtually identical.

“If we eliminated the racial wealth gap by 2028, some estimates suggest it would contribute 4–6% in GDP,” said Anna Blanding ’09, managing director of impact investments at ConnCAT, a New Haven workforce development organization. “Closing this gap is not just a moral imperative, but an economic imperative.”

Blanding was speaking as part of an online panel on how financial tools can better empower minority groups and communities. With her on the webinar were Janice Shade, founder of The Initiative for Local Capital, and Michael Shuman, an economist and attorney focused on community economics. Teresa Chahine, a senior lecturer in social entrepreneurship at Yale SOM, moderated the discussion.

Photo courtesy of UnratedStudio.

Source: Yale Insights (link opens in a new window)

financial inclusion, impact investing