Black Equity at Work Certification Program and CNote Partner to Unleash the Corporate Balance Sheet for Racial Equity
Management Leadership for Tomorrow joins with women-led impact investing platform to activate every aspect of corporate operations for racial equity, starting with the Fortune 500
November 2, 2021 // Oakland, CA // Management Leadership for Tomorrow and CNote today announced a new partnership that will help industry-leading employers deliver on their social justice commitments.
MLT’s Black Equity at Work Certification, co-developed with Boston Consulting Group, requires employers to pursue Black equity with the same rigor and results orientation they apply to other core business priorities. The certification, tied to a comprehensive three-year plan, focuses on three areas—people, purchasing and philanthropy. Participating employers receive benchmarks, best practices and insights on how to achieve racial equity in the workplace across five pillars:
- Black representation at every level
- Compensation equity
- Inclusive, anti-racist work environment
- Racially just business practices
- Racial justice contributions and investments
Forty-five industry-leading employers have committed to the certification, including BlackRock, Cargill, and ViacomCBS.
Partnership with CNote Puts the Corporate Balance Sheet to Work for Racial Equity
Oakland-based CNote, a women-led Certified B Corporation, deploys corporate deposits and investments to its national network of community development financial institutions, low-income designated credit unions and minority deposit institutions. The company has helped corporations including PayPal and Mastercard move millions into underserved communities to advance economic inclusion and start to close the racial wealth gap.
Together, CNote and MLT will give corporations a comprehensive pathway to combining workforce action with Black-equity–focused corporate deposits and investments—at a time when corporations are looking for solutions and expertise to meet the commitments they’ve made to racial equity. The two organizations will collaborate on educating corporate partners, and investments and deposits made through CNote’s platform can earn points toward Black Equity at Work Certification.
“Our partnership with CNote is a natural complement to the Black Equity at Work Certification Program, allowing us to help committed corporations use their balance sheets to contribute to racial justice,” said Indy Adenaw, managing director of the MLT Black Equity at Work Certification Program.
Catherine Berman, CEO of CNote, commented, “MLT’s Black Equity at Work Certification is one of the most effective actions corporations seeking to drive greater racial justice can take. CNote’s ability to use the power of the corporate balance sheet to align around greater Black equity—while staying true to a corporation’s risk and return needs—creates an actionable and integral road map that complements MLT’s dynamic work.”
Peloton’s senior vice president of Diversity, Equity and Inclusion, Dr. Christal Morris, explained the value of the certification in an earlier announcement: “Partnering with MLT to achieve the Black Equity at Work Certification is our latest step to make sure all of our team members can bring their true, authentic selves to work. We’re excited to raise the bar and be part of a larger movement investing in Black equity.”
About Management Leadership for Tomorrow
Management Leadership for Tomorrow (MLT) is a national nonprofit working to transform our country’s leadership pipelines and increase access to the American Dream. MLT, founded by John Rice, provides Black, Latinx, and Native American talent with the coaching, playbook and networks they need to excel in high-trajectory careers, secure economic mobility for their families and become high-impact senior leaders equipped to advocate for vulnerable communities. MLT also provides a comprehensive solution for institutions, which combines best-in-class recruitment, retention and diversity strategy offerings. Learn more at www.mlt.org.
CNote is a women-led social enterprise on a mission to close the wealth gap through financial innovation. Using the power of technology and a community-first framework, CNote’s platform enables corporations, institutions and individuals to efficiently invest and deposit cash at scale in community financial institutions. CNote is a Certified B Corporation that has earned “Best for the World” honors from B Lab and was named “Best Women-Owned Business” by the United Nations’ Women’s Empowerment Principles program.
Sarah Grolnic-McClurg, Thinkshift Communications
Management Leadership for Tomorrow
Simone Manee, Marketing & Communications Director