Hudson's Bay aims to accelerate racial equity with $30 million commitment
Canadian retailer the Hudson's Bay announced on Monday the launch of a new social impact platform via the Hudson's Bay Foundation with the aim to accelerate racial equity.
With the launch of the Hudson’s Bay Charter for Change, the foundation is committing $30 million over 10 years to organisations working to advance racial equity and inclusion, through three key areas of focus: education, employment and empowerment.
This commitment launches as of Monday with its first five charitable partners: Indspire, Black Youth Helpline, CEE Centre For Young Black Professionals, CPAC Foundation, and MLSE Foundation.
The initiative will bring scholarships and bursaries for First Nations, Métis and Inuit students pursuing post-secondary education, empower Black youth with career readiness and training programs in high-demand fields, and use sport to teach life skills that empower racialized communities and improve academic engagement and workplace readiness.
The Hudson’s Bay Foundation aims to impact more than 300,000 lives through programs run by its partner organisations.
“Racial equity is one of the most urgent issues facing society, and through Hudson’s Bay Charter for Change our goal is to create tangible and measurable change that makes a difference in the lives of Canadians,” said Iain Nairn, president and CEO of Hudson’s Bay.
“With our own 350-year company history that in the past included discrimination and inequity, we have a responsibility to take action and drive progress in creating a fair and equitable Canada for all.”
Last March, the Hudson's Bay Foundation committed a $1 million donation in response to the ongoing Covid-19 crisis. The donation was made to Food Banks Canada and Kids Help Phone, each of whom received $500,000.
The iconic retailer currently operates 88 full-line locations and thebay.com featuring Marketplace - the fifth largest e-commerce business in Canada.
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