Goldman Sachs and Starbucks announce their promise to fill the racial wealth gap in the United States.

Goldman Sachs, Starbucks and a number of other organizations in the US announced a collaboration on Tuesday Reducing the Racial Wealth Gap between black and white Americans.

The initiative, called NinetyToZero, also includes the American Civil Liberties Union, the University of Pennsylvania’s Wharton School, and the Robin Hood Foundation as a supporter.

“A handful of people got together and said, ‘We have a coordinated problem that we need to address and the only way we can deal with it is a coordinated solution,” said Wes Moore, Robin Hood CEO CNBCs “Squawk Box.”

“The problem we wanted to solve was the fact that it exists 10-to-1 racial wealth gap We have that with the United States between black and white families, “added Moore to resign from the New York City-based nonprofit fighting poverty next month.

Moore appeared on “Squawk Box” alongside Goldman Sachs Chairman and CEO David Solomon.

“The ability to solve any challenge has become increasingly difficult – and frankly impossible – unless we address the fact that this racial wealth gap continues to hamper any form, growth, or progress,” said Moore.

NinetyToZero is the one latest corporate action Last year we focused on tackling racial inequality in the United States. A number of companies announced the death of George Floyd in police custody last May financial investment in black communities and organizations as well as other internal efforts such as Reform of recruitment practices.