More than 50 CEOs of Seattle-based companies are signing on to commit $2 billion towards racial equity initiatives.
The CEOs of Microsoft, Alaska Air Group, Starbucks, Nordstrom, Boeing and more than 50 other companies signed on to "commit to owning our part of the problem."
”I don't remember a time when you have had this many companies, and these large global companies, as well as small, local companies, stand together and say, the facts are undeniable,” said Christine Gregoire, CEO of Challenge Seattle and former Washington governor.
Gregoire said a recent report commissioned by Challenge Seattle and Washington Roundtable lays out racial inequities across multiple facets of life.
”We need to look at that. We need to look at why Fortune 500 doesn't have any CEOs, or very few CEOs, that are Black. Well, that's because they haven't been promoted. Let's look at how we can make sure that that's happening. Let's make sure that there's pay equity,” Gregoire said.
Challenge Seattle and Washington Roundtable are the founding sponsors of the new coalition being called Washington Employers for Racial Equity.
The group said it plans to invest a combined $2 billion in corporate and community efforts over the next five years, hire a workforce that reflects the community and increase Black representation in management and senior leadership roles.
"It takes staying on top of your staff to make sure that they are doing what you're saying your company is committed to doing,” said Ollie Garrett with Tabor 100, a group promoting social equity. Garrett said she's focused on the follow-through.
When asked how the companies involved in this effort will be held accountable, Gregoire said, "We're going to hold ourselves accountable because we know we're going to accumulate the data and we're going to report it publicly. Because we think that's what we owe to, not only Black Washingtonians, but every person of color in the state,” Gregoire said.