An Urgent Call to Biden-Harris Administration:
Create White House Initiative on Inclusive Economic Growth
Structural reforms to capital markets and increased community investing key to supercharging Administration’s efforts to address COVID-19 fall out, racial wealth gap and climate change
The U.S. Impact Investing Alliance, B Lab and a coalition of 50 impact-oriented organizations are calling for the creation of a White House Initiative on Inclusive Economic Growth to coordinate federal policies that will reshape and rebuild our economy so that it works for all of us. The proposed Initiative’s bold approach would support the Biden-Harris Administration’s efforts to address three monumental crises facing our nation: the COVID-19 economic fallout; a widening racial wealth gap; and climate change.
The Administration has made significant headway and the Initiative on Inclusive Economic Growth would supercharge these efforts by prioritizing a set of necessary and long overdue structural reforms to our economy and capital markets, including:
A shift from shareholder primacy to stakeholder capitalism, including financial market reforms that change the rules and incentives for corporations and investors to ensure they account for their impact on all stakeholders, and not just shareholders; and
A renewed focus on community investing that builds generational wealth and creates new jobs and opportunities in Black, Brown, Tribal, rural, and otherwise underserved communities.
The Initiative aligns with and supports the core values of the Biden-Harris Administration and is critical to driving a coordinated policy agenda that refocuses corporations and investors on real and equitable value creation that promotes quality jobs, thriving communities, and the resilience of our planet. It would be staffed at the National Economic Council, which could play a central coordinating role in promoting equitable economic policy across the Administration. This would also ensure the outlined goals of the proposed Initiative sit at the very center of our nation’s economic policymaking apparatus.
The coalition is currently engaging with Congressional offices and members of the Administration to build support for the White House Initiative and to share our vision for inclusive economic policymaking. Together, we hope to advance the Administration’s priorities around economic recovery, racial equity, and climate resilience.
Contact Us
For more information about the proposal or ways to engage, please contact info@impinvalliance.org or policy@bcorporation.net.