Pervasive opportunity gaps have widened the already vast racial wealth chasm between Black Americans and other racial groups. Sweeping motion is required to alter this, and it looks like Deloitte is putting money where its mouth is.

The leading financial firm recently announced in a news release the launch of a $1.5 billion social impact investment to handle three critical areas of disparity that plague the Black community: workforce development, financial inclusion, and health equity.

“Our three focus areas are inextricably linked to one another and to the chance for people to have prosperous lives in our society,” said Kwasi Mitchell, chief purpose officer at Deloitte in a news release. “Deeply-rooted inequities are larger than any single entity can tackle alone. The broader ecosystem, and people proximate to the problems and their communities, could be powerful instruments for sustained change.”

To kick-off the investment, Deloitte has partnered with key community organizations including OneTen, The Black Economic Alliance Foundation and Latest Profit.

OneTen’s involvement will center on education and workforce development while The Black Economic Alliance Foundation’s partnership goals to advertise financial inclusion. Lastly, Latest Profit’s Health Equity Catalyze Cohort will give attention to advancing health equity.

This major investment from Deloitte is part of what the corporate says is a 10-year commitment to foster significant social impact in underserved communities.

“Deloitte is proud to work with modern and forward-thinking organizations to make a sustained impact together,” said Alicia Rose, deputy CEO at Deloitte in a news release. “At Deloitte, we try to embed purpose in all the pieces we do, and that is the newest step in our deep and abiding commitment to enact lasting social change.”

More details concerning the social impact investment could be present in their 2022 Global Impact Report.