3M Forms Coalition To Guide Racial Equity Investments
October 20, 2020
3M is turning to the community for guidance on distributing one of its largest education-related donations in recent history.
In September, the Maplewood-based manufacturer announced plans to spend $50 million on education and workforce development initiatives aimed at addressing racial inequities. Though the company spelled out a few specific investments for the five-year plan, precise details were sparse. And that’s partly because 3M is turning to eight community leaders to help guide the remainder of its investments.
“Instead of just showing up and saying, ‘Here’s how we want to invest, and that’s the way it’s going to be,’ this coalition is a way for us to allow community leaders to inform what our investment strategy looks like,” says Michael Stroik, director of 3Mgives and VP of the 3M Foundation.