Schroders announce today that ‘Schroders Giving’ is adjusting its charitable giving priorities in response to the Covid-19 emergency, including monetary donations to two Hong Kong NGOs for procuring health protection supplies and providing online education programmes and equipment to the underprivileged.
Under the current crisis, Schroders believe that it is necessary to reprioritise and adapt to the world around us. Just as people adapted their lives, their jobs and their businesses, ‘Schroders Giving’ is supporting the emergency response by redirecting charitable funds to programmes across the world that are supporting the most vulnerable people affected by the pandemic. Contributions include providing food and medical aid, and supporting the elderly, those with mental health challenges and disadvantaged children.
In Hong Kong, Schroders is supporting the Chinese YMCA of Hong Kong in the purchase and distribution of personal health protection gears to disadvantaged individuals and families. As a responsible corporate citizen, and in line with our goal of helping people achieve their long-term goals, we want to help those who may not have access to the certain essentials during this period to stay safe and healthy so they could fulfil their future ambitions.
With school closure during this period, we are also supporting the Music Children Foundation (MCF) to provide online music lessons, second-hand computers, and health protection supplies to underprivileged children. MCF has been a strategic charity partner of Schroders since 2019, and it aims to provide music education to less fortunate children at an early age to help them build their confidence, strengthen their character, and cultivate their core values towards building a harmonious society. The recent renewed focus helps ensure children continue to pursue their interest in music and maintain a healthy learning schedule.
Alongside supporting local programmes, Schroders globally has materially increased its support for charities. This comprises a range of actions including direct grants; the establishment of a company-wide ‘collective action’ scheme to enable all employees to voluntarily donate up to 25 per cent of three months’ salary; the donation by the executive Directors of their entitlement to their 2020 long-term incentive plan awards as well as 25 per cent of their salaries for three months; the Chairman and non-executive Directors will also donate 25 per cent of their annual fees for three months; and contributions from an extended Schroders match-giving programme.
Schroders is also supporting the global Covid-19 Solidarity Response Fund for the World Health Organisation (WHO) and employees are invited to donate with the company. By donating to this fund, Schroders will be helping the WHO to:
- Send essential supplies such as personal protective equipment to frontline health workers
- Enable all countries to track and detect the disease by boosting laboratory capacity through training and equipment
- Ensure health workers and communities everywhere have access to the latest science-based information to protect themselves, prevent infection and care for those in need
- Accelerate efforts to fast-track the discovery and development of lifesaving vaccines, diagnostics and treatments
‘Schroders Giving’ was launched globally in 2019 to showcase the positive impact the business is having on the communities in which the company operates. As a firm, Schroders focuses on ‘improving futures’ combining longer term strategic partnerships with a responsive grants programme.
At the end of 2019, Schroders signed the UN Global Compact committing themselves to making progress towards achieving the 17 Sustainable Development Goals. Alongside supporting its employees in their own charitable efforts, Schroders Giving represents the company’s central charitable giving and develops strategic community partnerships.