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Microsoft reports investments in banks, funds and other programs supporting Black-owned companies

Microsoft on Tuesday shared an replace on its work to promote racial equity in the U.S. by investing in and working with Black and African American led monetary establishments, suppliers and companions.

The Redmond, Wash.-based software program and cloud big supplied an upbeat report, saying that in some circumstances programs that had been anticipated to take years to construct up have been completed in a matter of 18 months.

The efforts are a part of Microsoft’s three-pronged method to addressing fairness that had been introduced in June 2020 as Individuals had been confronting the homicide of George Floyd and systemic racial injustice.

In October, the corporate reported on its progress to extend the diversity of its workforce, and in June it shared information of its programs to bolster Black and African American communities nationwide.

“All through this initiative, our groups have positioned the very best precedence on accountability, transparency, and
sustainable influence,” mentioned Amy Hood, Microsoft govt vice chairman and chief monetary officer, in a ahead to Tuesday’s report.

Microsoft employs 180,000 staff in greater than 100 international locations and in addition to its software program, gaming and Azure cloud companies additionally owns Github and LinkedIn. With a sizeable worker base and present market capitalization of $2.4 trillion, specialists say that Microsoft’s management and actions on these points could make a significant distinction.

“Companies like Microsoft have the potential to affect each a part of our social, political and financial lives,” mentioned Elizabeth Umphress, a professor with the College of Washington’s Foster Faculty of Enterprise, in an interview earlier this year.

“On this approach, they may have the same affect as nationwide or state governments,” she mentioned.

Other tech giants together with Apple have rolled out racial fairness programs or pledged funding to varied teams.

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