Companies shift ESG priorities toward racial justice
New data shows where and how companies plan to invest and allocate charitable dollars.
COVID-19 has brought plenty of business activities to a grinding halt. Corporate philanthropy’s not one of them.
A new survey from The Conference Board ESG Center reveals that despite the ongoing pandemic, 94% of large U.S. corporations plan to maintain or increase charitable giving this year. Where are those dollars going, exactly? The data shows heavy investments in efforts to address COVID-19 and bolster racial equity.
The data highlights internal challenges to reaching these lofty charitable goals, however. Fifty-three percent of the “corporate citizenship executives” surveyed (representing 55 major public and private companies with median annual revenues of more than $24 billion) said their departments’ lack of budget, time and staff are the biggest obstacles thwarting meaningful progress.
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