Investing in Diversity, Equity, Inclusion & Belonging: 2023 Report from Veris Wealth Partners
Veris Wealth Partners has published a new report on investing in diversity, equity, inclusion, and belonging.
We believe that our economy and society have much to gain by investing in communities that have historically faced exclusion.
In their 2020 report Closing The Racial Inequality Gaps, Citigroup reported that not addressing racial gaps between Black and Whites has cost the US economy up to $16 trillion over the past 20 years and closing the gaps would add $5 trillion to US GDP over five years.
It is our firm’s view that investors have a powerful opportunity to help create more equitable systems in the United States through policy advocacy and changing how we allocate investments, taking into account diversity, equity, inclusion, and belonging (DEIB).
One of the main tenets of Veris’ Investment Philosophy is that investors can have positive social and environmental impact across asset classes and strategies. We take a multi-faceted, intersectional approach to create wealth in under-resourced communities.
DEIB Report Highlights
The report begins with a summary of the historical context that gave rise to the racial wealth gap and specific policies that inhibited equitable access to home ownership and credit for Black Americans. Shares examples of persistent disparities, in wealth and outcomes, between Black and White Americans.