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The Center for Financial Inclusion at Accion (CFI), the Institute of International Finance (IIF) and MetLife Foundation, together with the International Finance Corporation (IFC) as a technical partner, announced today a two-year initiative to help advance the financial services industry’s ability to reach unserved and underserved populations.
CITGO Petroleum Corporation, along with its Marketers and Retailers, raised approximately $30,000 in 2016 through the installation of “Spirit Pumps” at participating CITGO stations across the nation. These specially wrapped, branded fuel pumps were operational at different times throughout the year to raise money for a variety of education, charitable and community service programs.
PayPal reported 11 percent growth in charitable giving in 2016, processing $7.3 billion in contributions over the year, including more than $971 million raised during the holiday season alone. Proving that spirits really were brighter this holiday, the company announced today that 8 million PayPal users in 181 countries contributed $971,213,604 to 282,053 charities, making 2016 the biggest year for end-of-year donations with PayPal ever.
We spoke to Michael Judin about the nature of fiduciary duties in the 21st century. What became clear is that ESG issues and fiduciary duties are not mutually exclusive.
Sustainability—both operational and environmental—is crucial for any enterprise. The pressures on companies are different and more urgent now than they were just ten years ago. Most companies now have business goals based around energy efficiency, reducing waste, and doing more with less, usually for good economic reasons. However, the environmental sustainability of a company is now fully intertwined with its operational sustainability.
We are completely reliant upon healthy natural systems. Unfortunately, not all natural systems are healthy, and only 3% of annual U.S. charitable giving goes to environmental and animal causes.
As part of our commitment to protecting biodiversity and ecosystems, we have continued our efforts in tackling deforestation, particularly in the production of palm oil.
The exclusion of the poor from participating in, and getting access to, opportunities and activities is a major dimension of poverty that needs to be recognised and addressed. As allocators of capital, we believe that social inclusion considerations must be an integral component of our investment and ownership decisions.
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