- The amount will be destined, mainly, to scholarships, educational campaigns, social projects and professional qualification for black men and women;
- Compliance with the defined initiatives will be verified by an external audit;
- Also, according to the company, 85% of this amount is already provisioned in the company’s balance sheet.
Through a material fact sent to the Brazilian Securities Commission (CVM) on Friday night, Atacadão, representing Carrefour Group in Brazil, informed that it signed a Conduct Adjustment Term (TAC) in the face of the Federal Prosecutor Office and other authorities “concerning the event that took place at the Carrefour store located in the neighborhood of Passo D’ Areia, in [the city] Porto Alegre/RS [Southern Brazil], on November 19, 2020.”
That day, João Alberto Freitas, a 40-year-old black man, was beaten to death in the parking lot of one of the supermarket chain stores in the city of Porto Alegre. The case is emblematic; it took place on Black Consciousness Day in Brazil, and triggered a series of protests against racism in the country.
READ ALSO: Nubank launches a BRL 1 million fund for black-founded startups in Brazil
In the TAC, which is valid for three years, the company ratifies commitments already assumed by Carrefour Brasil since the episode and expands the fund that will finance these measures to BRL 115 million (around $22.5 million).
The amount will be destined, mainly, to scholarships, educational campaigns, social projects, and professional qualification for black men and women. Compliance with the defined initiatives will be verified by an external audit. Also, according to the company, 85% of this amount is already provisioned in the company’s balance sheet.
READ ALSO: Google for Startups Brazil announces eight new startups selected by Black Founders Fund
As part of these commitments, at the beginning of June, Carrefour Brasil launched three public notices to finance black entrepreneurship and anti-racism projects. The idea is that the notices benefit around 40 organizations and collectives from the five regions of Brazil.
The notices were developed with the support of KLID, a consultancy that helps organizations interested in supporting social causes, and the total investments in this first cycle reach BRL 2 million.