The recent death of George Floyd and so many other racially motivated lethal injustices in the past remind us that so much more needs to be done to tackle the scourge of racism – here in the UK and around the world. We stand in solidarity with our brothers and sisters in the Black community and fully support the #BlackLivesMatter movement.
We are sharing this now, having reflected on our role, and where we can best contribute in achieving the systemic and structural changes needed in our sector and wider society. We also commit to continuing our efforts after the hashtag stops trending.
We’re proud at Fair Finance that diversity isn’t just a word: 60% of our senior management and management teams are from BAME communities and 45% of our workforce is. More importantly, 65% of our clients - across our advice and lending services- are from BAME backgrounds; a startling indicator of the structural and systemic inequalities faced by people of colour. The COVID-19 crisis has sadly also been a deadly reminder of these inequalities.
Fair Finance was established to challenge discrimination and inequality within the finance sector.
The issues dealing with race and racism and racial inequality are intimately connected to the issues of wealth inequality. People of colour continue to be economically disadvantaged due to the built-in inequalities in our society and financial systems. This is where our efforts will be.
We are committed to:- challenge and calling out discriminatory practices where we see it
- collecting data that shines a light on where these discriminatory practices are applied
- working with our partners to lead the changes necessary to dismantle unequal systems
- working with the sector and help them improve and reform practices
- continuing to champion the needs of our clients and communities
- increasing the diversity of our Boards and Committees
- challenging and supporting the finance sector to increase diversity in its institutions
- listening to the voices of the unheard and fighting for a just and inclusive financial system
