<p class="bodytext">American Express Co said on Thursday it was investing $1 billion to advance racial and gender equality, the latest in a line of U.S. companies pledging to promote social justice after a series of race-related protests earlier in the year.</p>.<p class="bodytext">The New York-based credit card issuer said it has achieved 100% pay equity for its employees and would continue to do so, as well as promote practices to hire and retain underrepresented colleagues, including Black, Latinx and female colleagues.</p>.<p class="bodytext">The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States to $750 million annually, as well as provide grants to non-profit organizations by the end of 2024.</p>.<p class="bodytext">Several U.S. companies, including large banks and financial firms, had pledged billions of dollars to promote racial equality after the killing of George Floyd, a Black man, by Minneapolis police sparked protests across the country earlier in the year.</p>.<p class="bodytext">Earlier in October, JPMorgan Chase & Co said it would commit $30 billion to address racial inequality over the next five years, marking one of the largest corporate pledges related to race since the death of Floyd.</p>.<p class="bodytext">Other companies that have rushed to take a stand include Home Depot Inc, Procter & Gamble Co and Coca-Cola Co. JPMorgan Chase & Co recently made a $30 billion commitment over the next five years.</p>
<p class="bodytext">American Express Co said on Thursday it was investing $1 billion to advance racial and gender equality, the latest in a line of U.S. companies pledging to promote social justice after a series of race-related protests earlier in the year.</p>.<p class="bodytext">The New York-based credit card issuer said it has achieved 100% pay equity for its employees and would continue to do so, as well as promote practices to hire and retain underrepresented colleagues, including Black, Latinx and female colleagues.</p>.<p class="bodytext">The company also said it intends to double its spending on diverse and minority-owned suppliers in the United States to $750 million annually, as well as provide grants to non-profit organizations by the end of 2024.</p>.<p class="bodytext">Several U.S. companies, including large banks and financial firms, had pledged billions of dollars to promote racial equality after the killing of George Floyd, a Black man, by Minneapolis police sparked protests across the country earlier in the year.</p>.<p class="bodytext">Earlier in October, JPMorgan Chase & Co said it would commit $30 billion to address racial inequality over the next five years, marking one of the largest corporate pledges related to race since the death of Floyd.</p>.<p class="bodytext">Other companies that have rushed to take a stand include Home Depot Inc, Procter & Gamble Co and Coca-Cola Co. JPMorgan Chase & Co recently made a $30 billion commitment over the next five years.</p>