Equity means special consideration for marginalized groups to compensate for past oppression. Martin Luther King, Jr. once said "A society which has for 300 years done something special against the negro must now do something special for the negro." That should give you some idea of the concept, even if nobody would say that in as many words today.
I know what it means and what is supposedly meant here, but I think it is quite funny that a very distinct homonym can very well be the same in these instances.
