HSBC Launches $150 Million Community Fund

To mark its one hundred and fiftieth anniversary, global banking giant has announced a three-year, $150 million initiative in support of local charities and community projects around the globe.

Based on votes from more than fifty thousand HSBC employees, more than a hundred and forty nonprofit organizations working in three issue areas — young people and their education, medical welfare and research, and the environment and wildlife — have been selected to receive grants. The funding is in addition to the $114 million a year HSBC awards to community investment programs.

"We are delighted to mark our one hundred and fiftieth anniversary with this additional $150 million community fund," said HSBC Group chair Douglas Flint. "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."

"HSBC's US$150m Community Fund." HSBC Press Release 07/16/2015.