Whitney Shepard | Co-Executive Director, Majority Action | whitney@majorityact.org media@hiphopcaucus.org | Press Contact, Hip Hop Caucus
FOR IMMEDIATE RELEASE
Webinar Highlights Why Racial Equity Audits and Capital Strategies Are Essential to Building a Just Economy
WASHINGTON, D.C. — On May 19, 2025, a powerful coalition gathered for a timely and urgent conversation about structural inequality and racial equity in corporate America. The webinar, Beyond Diversity: Capital Strategies to Address Structural Inequality, spotlighted how capital can be used to drive accountability, sustainability, and justice across markets—and called on Walmart shareholders to vote in favor of Proposal 8, urging the company to conduct a racial equity audit.
The event was co-hosted by the Racial Justice Capital Strategies Table, which includes member organizations, Hip Hop Caucus, Majority Action, and United for Respect Education Fund. The Amalgamated Foundation Capital Markets Hub also co-hosted the event. Speakers included leaders from host organizations, and the NAACP (National Association for the Advancement of Colored People).
“As we approach the five-year anniversary of George Floyd’s murder, too many corporations are walking back their public commitments to racial equity,” said Whitney Shepard, Co-Executive Director of Majority Action. “We organized this conversation to reaffirm what communities have always known: systemic racism isn’t just a moral issue—it’s a financial risk. Racial equity is not a side issue. It is the issue.” Shepard added: “If we want an economy that is truly resilient, equitable, and capable of weathering the storms ahead, we cannot build it on quicksand. We cannot build it on exclusion. We cannot build it on domination. We must build it on shared power. On accountability. On equal opportunity.”
The webinar also featured Keisha Bross, Director of Opportunity, Race, and Justice at the NAACP, who challenged companies to remain transparent and accountable, especially in the face of increasing political pressure to dismantle DEI programs.
“This isn’t just about matching t-shirts and statements. Our $1.7 trillion in buying power is real, and growing. Consumers deserve to know whether corporations are truly committed or just pretending. Be about that life—or we’ll take our dollars elsewhere.”
Stephone Coward II, Economic Justice Director for the Hip Hop Caucus, added a crucial lens on capital allocation and the power of investing in community-owned financial institutions through the Bank Black and Green campaign: “Racial equity isn’t charity—it’s a smart strategy. Black-led financial institutions are building sustainable, community-rooted wealth. Impact investors have a role to play in ensuring capital flows to institutions that serve people, not profit from harm.”
Renaye Manley Senior Policy Advisor at the Amalgamated Foundation Capital Markets Hub emphasized the role of racial equity audits as essential investor tools: “Companies that ignore structural inequities in their business models, supply chains, or workforce practices are failing strategically. Civil rights audits are not charity—they’re risk management for the 21st century.”
Speakers from United for Respect Education Fund underscored the urgency of passing Proposal 8 at Walmart’s upcoming shareholder meeting, citing the company’s retreat from key racial equity initiatives.
“Walmart has more Black employees than any other company in the U.S., and its decisions impact nearly every community in the country,” said Bianca Agustin, Co-Executive Director of United for Respect Education Fund. “Backing away from racial equity programs without transparency or stakeholder consultation raises serious concerns. Shareholders have both a moral and fiduciary responsibility to demand accountability.”
A powerful video message from TaNeka Hightower, a Walmart associate and leader with United for Respect Education Fund, revealed the company’s internal inequities and called on shareholders to support the audit: “Walmart’s policies don’t just influence what happens inside stores—they shape the lives of millions. Racial disparities in hours, promotions, and wages are systemic. We deserve fairness. Vote yes on Proposal 8.”
Attendees were equipped with actionable strategies, including proxy vote guides, investment pledges, and policy advocacy recommendations for the 2025 shareholder season and beyond.
CALLS TO ACTION:
A link to the webinar can be viewed here.
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About Majority Action
Majority Action is a nonprofit organization dedicated to empowering shareholders of all sizes to hold corporations and their leadership accountable to high standards of long-term value creation, corporate governance, and social responsibility. www.majorityaction.us
About NAACP
The NAACP advocates, agitates, and litigates for the civil rights due to Black America. Our legacy is built on the foundation of grassroots activism by the biggest civil rights pioneers of the 20th century and is sustained by 21st century activists. From classrooms and courtrooms to city halls and Congress, our network of members across the country works to secure the social and political power that will end race-based discrimination. That work is rooted in racial equity, civic engagement, and supportive policies and institutions for all marginalized people. We are committed to a world without racism where Black people enjoy equitable opportunities in thriving communities.
Formed in 2004, the Hip Hop Caucus is a non-profit, non-partisan organization that leverages Hip Hop culture to encourage young people to participate in the democratic process. Through a collaborative leadership network, Hip Hop Caucus addresses core issues affecting underserved communities. Hip Hop Caucus programs and campaigns support solution-driven community organizing led by today’s young leaders. www.hiphopcaucus.org
About United for Respect Education Fund
United for Respect Education Fund (UFR) is a national non-profit organization. UFR is a multiracial movement of working people throughout the U.S. advancing a vision of an economy where our work is respected and our humanity recognized. UFR is not a labor union and does not intend or seek to represent retail employees over terms and conditions of employment or to bargain with retail employers. www.united4respect.org
About Amalgamated Foundation Capital Markets Hub
Amalgamated Foundation Capital Markets Hub builds the giving platform of the future by empowering activism, harnessing generosity and leveraging technology.Amalgamated Foundation Capital Markets Hub builds the giving platform of the future by empowering activism, harnessing generosity and leveraging technology.