Move to Action Builds on Momentum From the Last Year In Pursuit of an Equitable and Thriving Economy for All
CHICAGO (May 25, 2021) – As we mark a year since George Floyd’s murder and the calls for racial and economic justice that followed, we believe this is a moment when we can make sure that the incredible outpouring of support for addressing racial inequity continues to move to action. 5/25 Move to Action is an initiative led by We Rise Together: For an Equitable and Just Recovery and the Corporate Coalition of Chicago.
“We have a once-in-a-generation opportunity to build a foundation for a more sustainable, resilient and inclusive economy,” said Gloria Castillo, director of We Rise Together, an initiative of The Chicago Community Trust. “Over the past year many companies in the Chicago region have acted on their commitments to address the economic and racial systems of exclusion but by working together and stacking resources, we will achieve greater impact than any of us can do alone.”
The 5/25 Move to Action effort seeks to galvanize private sector actions that will have real impact on an equitable economic recovery in Chicago. We ask companies to take at least one action. Examples of what companies can do include:
-increase annual spend with local Black and Latinx firms by at least 25%;
-increase second-chance hires in the workforce by at least 25%; or
-invest in the initial $25 million capital raise for the EPIC Fund, a new vehicle for providing equity capital for catalytic real estate projects in under-invested communities.
“There’s much more we can all do to expand opportunities for Black and Latinx communities who have historically not had equitable access to the resources of their counterparts,” said Brian Fabes, managing director of the Corporate Coalition. “As we continue on our economic recovery, let’s accelerate Chicago’s transformation to an economy that is thriving and equitable.”
The following companies have already stepped forward, pledging to make a commitment to action in the next 25 days:
Advocate Aurora Medical
Bank of America
BMO Harris Bank
Cabrera Capital Markets
Fifth Third Bank
Greeley and Hansen
Loop Capital Markets
Rush University Medical Center
The Obama Foundation
The Blommer Chocolate Company
The Vistria Group
Winston & Strawn
“A year ago, today, George Floyd’s life was stripped away, and his murder reignited a national discussion about the scourge of police brutality and systemic racism,” said Mayor Lightfoot. “This devastating tragedy, which generated uproar around the world, still urges us to fight that much harder to create a more equal and just society for our Black and Latinx communities. I commend We Rise Together and the Corporate Coalition for creating the 5/25 Move to Action initiative and advancing our citywide mission of investing in the lives and businesses of Black and brown Chicago.”
5/25 Move to Action is supported by a coalition of public and private sector funders working towards concrete actions, which will be announced on June 21, 2021, 25 days after the commemoration of May 25th. We know the list will grow between now and June 21st. We believe Chicago can show how important and meaningful it is to move words into action.
If you are interested in getting involved, please contact Gloria Castillo at email@example.com.
About The Chicago Community Trust
The Chicago Community Trust is a community foundation dedicated to strengthening the Chicago region by creating equity, opportunity and prosperity for all people who call it home. For more than 100 years, the Trust has united generous donors, committed nonprofits and caring residents to effect lasting change. Following the creation of a new strategic plan in 2019, the Trust stands committed to addressing Chicago’s legacy of systemic inequity and closing the racial and ethnic wealth gap while responding to our most vulnerable residents’ critical needs. Thanks to our generous donors, every year more than 6,000 organizations receive more than $613 million in funding from the Trust. To learn more, visit www.cct.org.
About The Corporate Coalition of Chicago
The Corporate Coalition of Chicago is an alliance of companies operating in the region whose mission is to significantly and sustainably reduce systemic inequities by identifying and implementing new ways to deploy their capital, capabilities, and employee enthusiasm.