Brief Building the Double Bottom Line: How a New Corporate Compact Could Birth a Community Development Renaissance
Brett Theodos, Tim Ferguson, Robin Hacke, Brady Meixell, Lisa Mensah
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This essay identifies four core elements that constitute a new corporate compact asking corporations to take a renewed focus on communities by creating new streams of community development finance that would help ameliorate neighborhood disparities by race and income. These elements are (1) an expansion of the Community Reinvestment Act to cover insurance companies, pension funds, investment firms, and other financial institutions; (2) a new federal corporate standard to promote investment in local communities; (3) time-limited disbursal requirements for donor-advised funds; and (4) revisions to the Employee Retirement Income Security Act to encompass social as well as financial outcomes. This essay is part of the Opportunity for All project.

Research Areas Wealth and financial well-being Neighborhoods, cities, and metros Race and equity Housing
Tags Racial segregation Wealth inequality Mobility Community and economic development Inequality and mobility Racial inequities in neighborhoods and community development Capital flows
Policy Centers Research to Action Lab