Racially and ethnically marginalized communities offer untapped potential for global economic growth. This new insight report takes a fresh look at the issue, focusing on how working with social innovators who are advancing racial and ethnic equity is a smart business decision.
The widening racial wealth gap threatens to slash economic growth by up to $1.5 trillion by 2028 in the US alone. Yet social innovators manage to create an opportunity from this monumental challenge. For businesses and global leaders, the key lies in embracing social innovation that weaves racial and ethnic equity into the very fabric of business practices. Through this, businesses expand into new markets that meet the diverse needs of communities, unlock talent pools through equitable hiring practices, and broaden their supplier networks with historically excluded vendors.
This report offers actionable pathways and case studies that promise to address systemic inequities and create commercial opportunities to ultimately create a more equitable, just, and prosperous world.