Chevron gives $30m to global health fund
Chevron the US-based energy group, is to contribute $30m in cash over three years to the United Nations-backed Global Fund to Fight Aids, TB and Malaria, in a pioneering move to lend direct corporate support to international health programmes. Along with money, the company will provide local assistance by its employees to Global Fund projects in six developing countries in Africa and Asia to strengthen efforts to tackle the world’s most lethal infectious diseases. The action marks the latest in a series of innovations to raise funds from new sources by the Global Fund, which has become the world’s largest multilateral supporter of health projects with pledges currently totalling $18bn (€12.3bn, £9.2bn). It also signifies an important increase in support from the private sector, which has long proved reluctant to provide substantial direct cash assistance to the organisation despite having a seat on its board since its creation in 2001. So far support has consisted of in-kind donations of corporate staff time, and the sharing of profits from the specially branded Red credit card and other products. Monday’s announcement comes ahead of what is expected to be a lively debate at the World Economic Forum in Davos over corporate social responsibility — or the extent to which companies should support the communities in which they operate. Image source: theglobalfund.org. > Continue.
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