Brian Roberts, CEO, Comcast
David A. Grogan | CNBC
Comcast has committed to spending $100 million over three years on efforts to fight injustice and inequality, CEO Brian Roberts announced in an email to staff on Monday.
The commitment includes $75 million in cash and $25 million in media “to fight injustice and inequality against any race, ethnicity, gender identity, sexual orientation or ability,” Roberts wrote. Comcast EVP and NBCUniversal Chief Diversity Officer Craig Robinson will lead the effort.
The commitment comes as part of a slew of corporate funding in diversity and social justice efforts following widespread protests over the death of George Floyd. Floyd died while a Minneapolis police knelt on his neck for nearly nine minutes as Floyd cried, “I can’t breathe.”
Comcast is focusing its commitment on five key areas: social justice, employees, awareness and education, digital equity and small business opportunity.
Under its social justice commitment, Comcast will create “significant grants” and partner with groups “working to eradicate injustice and inequity,” Roberts said. Comcast will direct funds toward organizations like the National Urban League, the Equal Justice Initiative and the National Association for the Advancement of Colored People (NAACP).
Roberts said Comcast will “accelerate” diversity and inclusion efforts through town halls, a speaker series about race-related topics and mandatory training on anti-bias and anti-racism. The company will provide additional funds to employee resource groups and invest in a diverse talent and recruitment strategy.
Outside of the company, Roberts said Comcast’s media resources will continue to spotlight black voices and stories. It will also expand its programs offering digital skills training as a way to advance economic mobility.
The funds will also benefit small businesses impacted by closures related to the Covid-19 pandemic, with a “substantial portion” directed to businesses owned by people of color, Roberts said. Comcast will also create new programs through its startup accelerator LIFT Labs for black founders and invest in diverse entrepreneurs through its funding arms like Comcast Ventures.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC.
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