In June 2023, Commonwealth Co-Founder and Executive Director, Timothy Flacke, took part in the annual Social Innovation Summit in Los Angeles. The flagship event brought together top social impact and thought leaders from across the globe for two days of thoughtful and enlightening conversations through panels, roundtable discussions, interactive breakout sessions, and social gatherings.
In a session moderated by Kori Hale, Chief Executive Officer of CultureBanx, Tim joined Claire Chamberlain, Chief Investment Officer, Corporate Sustainability and Social Impact of BlackRock, in presenting “Building a Foundation for Employee Financial Security and Wellness.” Emphasizing Commonwealth’s belief that financial security and wealth building should be achievable for all people, this discussion examined ways that employers can implement innovative strategies to empower workers and help build their financial security.
Earlier that day, Claire announced the publication of BlackRock’s Emergency Savings Initiative Impact and Learnings Report. Since its launch four years ago, the Initiative has helped more than 10 million workers gain access to emergency savings solutions and has resulted in more than $2 billion in new liquid savings for people working in the United States. We encourage you to read the report for full details.
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About BlackRock’s Emergency Savings Initiative
BlackRock announced a $50 million philanthropic commitment to help millions of people living on low to moderate incomes gain access to and increase usage of proven savings strategies and tools — ultimately helping them establish an important safety net. The size and scale of the savings problem requires the knowledge and expertise of established industry experts that are recognized leaders in savings research and interventions on an individual and corporate level. Led by its Social Impact team, BlackRock is partnering with innovative industry experts Common Cents Lab, Commonwealth, and the Financial Health Network to give the initiative a comprehensive and multilayered approach to address the savings crisis. Learn more at www.savingsproject.org