RACE / RACISM

The Limits of Corporate Altruism After George Floyd; The Money Behind Anti-Critical Race Theory

The race and racism news you need to know.

Stephanie Siek
Momentum
Published in
5 min readAug 27, 2021

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Photo by Elena Mozhvilo on Unsplash

Things are not as they appear in this week’s roundup of race and racism news. We’ve got companies whose multibillion-dollar pledges to rectify racial inequality obscure self-serving investments, former sundown towns’ use of their small Black and Brown populations for political leverage, and the right-wing organization promoting a flurry of “anti-critical-race-theory” laws and discourse.

Corporations’ post-protest giving falls short

Remember all those large corporations who promised to give money to racial justice causes in the wake of the protests following George Floyd and Breonna Taylor’s deaths? Well, the Washington Post has done some digging about whether they’ve followed through on those commitments and found that those companies are not exactly putting their money where their mouth is. The Post examined the giving of the country’s 50 largest public companies, which had pledged a total of $49.5 billion since last May to address racial inequality. But the vast majority of that money — 90 percent — went into loans or investments that these companies could profit from, with more than half of that going to mortgages, the Post found. Only $4.2 billion went to grants for social justice organizations and projects, and just $70 million went to organizations that are actually focused on criminal justice reform. Click over to the article to see just where this money is ending up.

What’s delaying a promised renaming for Alabama schools named after Confederates

In other ‘broken promise’ news, three Montgomery, Ala., schools named for Confederate figures are… still named for Confederate figures. The board of education had voted to rename them last July after years of activism by alumni and residents, but incoming students are starting their school year at campuses named for Robert E. Lee, Sidney Lanier, and Jefferson Davis. Why? Part of the reason is a 2017 state law that prohibits the renaming or alteration of buildings on public land, including schools. Schools that…

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Stephanie Siek
Momentum

Stephanie Siek is a writer and editor who loves cats, cookie dough and aborted alliteration.