LONDON (ShareCast) - (Sharecast News) - Walmart and the Walmart Foundation pledged $14.3m to nonprofit organizations that combat racial inequality in education and health care, among other areas.

The announcement comes in the wake of the George Floyd protests in June 2020. Walmart said at the time that it would boost diversity within its business and contribute $100m over five years to the cause.

The company's CEO Doug McMillon acknowledged in June that corporations must do more than simply write checks. He said the company would do better within its four walls, too, by recruiting and supporting diverse talent.

Black employees make up about 21% of Walmart's 1.5m total US workforce. Nevertheless, only 12% of managers and 7% of officers are black.

Walmart has also vowed to share a diversity and inclusion report twice a year instead of annually.

On Monday, Walmart announced it would distribute the first $14.3m to 16 nonprofit organizations.

The funds will be spent on educating communities of color about the Covid-19 vaccines, reducing debt for students at historically Black colleges and universities and providing internet access and technology to children who are attending school remotely.

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