NEW YORK, JUNE 22, 2022 – Moody’s Corporation announced today the launch of Creating Opportunities for Racial Equity (CORE), expanding its commitment to bringing financial prosperity to multicultural communities. With CORE, the company plans to engage more diverse businesses by empowering them with information, data and insights, while investing to provide more access to, and understanding of how diverse businesses can leverage, capital through various offerings like its ‘CORE Conversations’ event series.
“Thriving minority businesses and financial institutions are critical to the economic health of communities of color because they help create jobs and reinvest local dollars back into neighborhoods,” said Rob Fauber, President and Chief Executive Officer at Moody’s. “As we come out of the pandemic, it is still vital for Moody’s and other companies to help these communities with ongoing challenges and we are eager to help them thrive.”
In addition to offering diverse businesses access to its experts, research and software, Moody’s has already taken action. The company has opened corporate bank accounts totaling $10 million at four Community Development Financial Institutions (CDFIs), invested $5 million at Trident, an institutional asset manager that supports underserved small businesses in the U.S., particularly in Black communities, and developed partnerships with multicultural stakeholders, including leaders of US Black Chambers Inc., National Association of Securities Professionals and the National Bankers Association.
Moody’s plans to broaden the reach of its commitment to diverse communities through various initiatives including hosting an event series called ‘CORE Conversations’ for minority-owned businesses and financial institutions covering topics like the impact of capital, the importance of technology and infrastructure and other key themes such as ESG and Cyber.
The first event hosted in May ‘The Power of Capital – Access and Impact’ featured an expert group of panelists that shared insights about the challenges diverse businesses face gaining access to capital and the positive impact delivered to communities when they do gain access to grow and scale their businesses.
Moody’s CORE plans to host two more events this year, with the next discussion scheduled for July 25 focused on the importance of diverse businesses accessing technology and building a sustainable infrastructure and a Multicultural Solutions Summit in November.
To learn more about CORE and upcoming events, please visit core.moodys.io.
ABOUT MOODY’S CORPORATION
Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 14,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.