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Daily CSR

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HSBC grants an additional $150 million in funding on its 150th Anniversary



07/27/2015

HSBC creates a $150 million community Fund to celebrate its 150th anniversary.


2015 is the 150th anniversary of the founding of HSBC. On this momentous occasion, HSBC would like to say a ‘Thank You’ to all of its customers, employees and shareholders. In order to do a little more than just that, it has created a $150 million fund and made it available to community projects and local charities for a period of three years, i.e. – 2015 to 2017.
 
In 2014, more than 50,000 employees voted on charitable themes from which emerged three winners: environment and wildlife, youngsters and their education and lastly research and medical welfare.
 
Regional management teams from HSBC have carefully selected more than 140 charities worldwide who could benefit from their funding. Employees have in fact participated in this process by casting their votes. The selections of the charities have been such that each will be able to bring about a positive sustainable change in their area of focus. 
 
 
"We are delighted to mark our 150th anniversary with this additional US$150m community fund. As a business, we believe that education, medical welfare and resources such as safe water and sanitation are essential to resilient communities which are, in turn, the basis of thriving economies and businesses," said Douglas Flint, Chairman of the HSBC Group.
 
What is interesting is the fact that the $150 million fund, is an addition to the $114 million investment program HSBC conducts globally every year.
 
HSBC is solidly committed towards environmental issues and education. It takes its commitments very seriously and it provides its strong financial support to community projects in which thousands of its employees across the world participate by volunteering their skills and their time.
 
As part of this commitment, it has partnered with some of the world’s leading charities, including small and large one. Many of its commitments have been long term and have resulted in bringing out changes that made a difference; HSBC is all about sustainable change.
 
Case in point: in 2002, HSBC worked with WWF to protect the Yangtze River basin. A huge number of people benefitted from this project alone. Over all, more than 900,000 young men and women have benefitted from its 700 projects covering around 62 countries. So as to make these happen, HSBC has partnered with SOS Children’s Village.
 
 
About HSBC
Headquartered in London, the HSBC Group comes under the umbrella of HSBC Holding plc. From its 6,100 offices in 73 countries, the HSBC group serves a wide range of customers across all territories and countries including, Latin and North America, North Africa, the Middle East, Europe and Asia.
It is one of the world’s biggest financial and banking organization and as on 31st March 2015 its assets are worth a jaw dropping $2,670 billion.
References: Businesswire.com