S&P Global Foundation Commits Additional USD $2M to COVID-19 Relief Efforts
Second wave of grants to support critical needs for small businesses, global NGOs
NEW YORK, April 14, 2020 /PRNewswire/ -- The S&P Global Foundation, the charitable arm of S&P Global (NYSE: SPGI), today announced a second round of grants aimed at supporting the global response to COVID-19. In addition to completing the initial allocation of USD $2 million, the Foundation has committed an additional $2M to widen its impact globally and support small businesses in this critical time of need, bringing total contributions to USD $4M.
"We are proud to extend the impact of the S&P Global Foundation through this second wave of funding," said Annette O'Hanlon, Chief Corporate Responsibility & Diversity Officer at S&P Global and President of the S&P Global Foundation. "We are committed to supporting our global community to mitigate the far-reaching effects of COVID-19. In addition, we know that small businesses are a critical engine for global growth. We're hopeful that, through our support, we can help sustain these organizations in a time of acute need."
Supporting Small Businesses
As small businesses face the strain of economic uncertainty, the Foundation is proud to support:
- Accion International, to support its "Rethinking Businesses Under COVID-19" initiative and help low-income entrepreneurs build their digital skills.
- U.S. Chamber of Commerce Foundation Save Small Business Fund, for emergency grants to small businesses in distressed communities.
- MicroMentor, to recruit and train 30,000 new mentors, who in turn will assist small business owners in accessing relief funds and adapting to economic pressure.
Global Relief Efforts
In Europe, the Foundation has partnered with the U.S. arm of the King Baudouin Foundation (KBFUS), headquartered in Brussels, which serves as an intermediary for companies in their grantmaking efforts in Europe.
KBFUS has launched a European Emergency Response Fund for countries hardest hit by the COVID-19 pandemic, currently covering Belgium, France, Germany, Italy, Spain and the United Kingdom. KBFUS will direct funds to local NGOs in these countries supporting vulnerable communities, food assistance, healthcare providers and hospitals.
The second round of giving by the Foundation will provide critical support to communities in the Asia-Pacific region, focusing on food and healthcare needs:
- In India, grants to Akshaya Patra, the Sambhav Foundation/LabourNet and Smile Foundation will help supply food provisions and sanitation kits for daily wage earners and migrant workers.
- In Pakistan, a grant to Akhuwat will support food provisions for daily wage earners, while a grant to the Shaukat Khanum Memorial Cancer Hospital and Research Centre supports health workers and public health messaging.
- In the Philippines, a grant to the University of the Philippines Medical Foundation will provide personal protective equipment (PPE) to hospitals responding to COVID-19.
The Foundation is also assessing potential partners in Argentina, Brazil, Colombia and Mexico, where S&P Global office operations are located.
Augmenting Local Support
As the impact of the COVID-19 pandemic becomes more acute within the United States, the Foundation has also allocated additional grants to support local efforts.
- For Project HOPE as part of the Business Roundtable's U.S. Coronavirus Relief Fund. Contributions will help efforts to source and distribute masks and other crucial protective equipment for donation to the U.S. medical community.
- For the New York State COVID-19 First Responders Fund, New York City Police Foundation, and New York City Fire Department Foundation, to assist healthcare workers and first responders with critical needs in the current epicenter of the U.S. outbreak.
As its Foundation looks to make an impact in the community, S&P Global has taken other steps to continue providing essential intelligence to market participants in this time of volatility.
- The Company has made its original research content on the impact of COVID-19 freely available to the public on its website, to ensure users have access to the latest reports, analytics, and data.
- The Company's Market Intelligence division is offering complimentary access to Panjiva's Supply Chain Intelligence platform for hospitals and relevant government agencies, helping them in tracking the supply chains of ventilators and PPE.
- Market Intelligence is also supporting distance learning for universities, providing colleges and universities who currently subscribe to Capital IQ or the Market Intelligence Platform with off-campus access for all students.
About the S&P Global Foundation
The S&P Global Foundation is the philanthropic arm of S&P Global. The Foundation's engagement strives to make a genuine impact on the communities in which we live, with three key focus areas: Bridging the Global Skills Gap, Creating an Inclusive Economy, and Promoting a Sustainable Environment. For more information visit www.spglobal.com/foundation.
About S&P Global
S&P Global is the world's foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering deep data and insights on critical business factors including ESG. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 23,000 employees in 35 countries. For more information visit www.spglobal.com.
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