Starbucks to Invest Thousands of Dollars into Racial Equity Projects in Philly
Starbucks recently announced the Starbucks Community Resilience Fund. According to the company, the fund's main focus is to advance racial equity and environmental resilience by supporting small business growth and community development projects in BIPOC neighborhoods.
By 2025 Starbucks is going to invest $100 million in racial equity projects in 12 metropolitan regions including Philly. According to Philly Voice, Starbucks’ reputation has been poor in Philadelphia ever since an incident in 2018 where two black men were wrongfully arrested at the store. The incident resulted in a $200,000 settlement and Starbucks’ employees undergoing racial bias training.
According to Philly Voice, Starbucks will be teaming up with a bunch of leaders in the community as well as development financial institutions to fund these projects. A main focus will be the tackle on climate change.
Starbucks CEO Kevin Johnson spoke about the initiative stating, "We are excited to make this investment as it aligns with our mission and values and supports our aspiration to advance equity and opportunity in the communities we serve."
Hopefully, Starbucks’ new fund and projects will result in positive change throughout the city. In particular, helping some of the businesses that have struggled due to the pandemic. Maybe we will all start to feel just a little bit better about paying for our overpriced coffees!
LOOK: Route 1: Which Burger Has The Most Calories?