Adapted from original press release - https://www.prnewswire.com/news-releases/dupont-announces-20-million-investment-in-liscs-black-economic-development-fund-301278625.html
WILMINGTON, Del., April 28, 2021 /PRNewswire/ -- DuPont (NYSE: DD) today announced it has committed to invest $20 million in the Black Economic Development Fund (BEDF), managed by the Local Initiatives Support Corporation (LISC).
The BEDF will provide financing to support Black-led financial institutions, anchor institutions, and businesses through improved access to capital to incentivize economic activity and wealth building opportunities in Black communities.
"For too long, systemic racism has prevented Black-led business owners and entrepreneurs from participating fairly and fully in our economy," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. "Improving access to capital for Black-led businesses can have an outsized impact—creating an economic multiplier and advancing racial equity. At DuPont, inclusivity is vital for delivering innovation and growth, and we're proud to invest in the Black Economic Development Fund and support communities with the resources to thrive in a more equitable and inclusive economy and society."
"DuPont is making a high-impact investment that will help tackle racial injustice and support broad-based growth as well," said Lisa Glover, Interim Chief Executive Officer of LISC. "It's gratifying to see some of the country's most dynamic corporations align their treasury strategies with their values in order to expand access to capital in Black and Brown communities, bridge racial wealth and income gaps, and help our economy work better for everyone."
Today's investment builds on DuPont's 2030 Sustainability Goals to improve lives and empower people by supporting education initiatives, workforce development, mentoring and recruitment programs, and partnering with community organizations to advance racial justice, and eliminate bias and barriers to equality. Additionally, the company has signed on to the Catalyst CEO Champions for Change, pledging to advance more women, particularly women of color, into senior leadership positions and onto the Board of Directors, and the CEO Action for Diversity & Inclusion pledge, which commits DuPont leaders to take measurable action in advancing diversity and inclusion in the workplace. Ed Breen also serves as a founding Guardian on the Council for Inclusive Capitalism.
For additional information on our commitment to advancing diversity, equity and inclusion, click here.
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
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For more information on LISC's Black Economic Development Fund please visit https://www.liscstrategicinvestments.org/black-economic-development-fund