To boost racial equity, Google pledges $175 million to support black-owned businesses

Tech giant Google has announced over $175 million to support black business owners, startup founders, job seekers and developers.

Earlier, Google-owned YouTube launched a $100 million fund to "amplify and develop" voices of black creators. 

"Concrete commitments are being made by Google to promote racial equity in the company, its products and its programs," said Google CEO Sundar Pichai in a statement.

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Pichai outlined that racial equity is inextricably linked to economic opportunity. 

"Google is working to improve Black+ representation at senior levels and committing to a goal to improve leadership representation of underrepresented groups by 30 per cent by 2025," he informed.

The internet giant is creating new "talent liaison" positions to advocate when it comes to keeping and promoting employees from underrepresented groups.

Also Read: Google to ban discriminatory advertisements targeting housing, job and credit card

Last week, Google announced that it is updating its advertising policies to prevent housing, employment, and credit card advertisers from targeting users based on gender, age, parental status, marital status, and ZIP Code. 

Google had previously barred advertisers from choosing ad targets based on users' race, religion, ethnicity or sexual orientation.

(With inputs from agencies)