Zurich Financial Services Group announced that its Z Zurich Foundation has established 5-year partnerships with “three globally active Non-Profit Organizations (NPOs) to address global, social and environmental challenges that are linked with Zurich’s business activities.
The partners are UK-based Practical Action, US-based Rainforest Alliance, and the Swiss-based International Federation of Red Cross and Red Crescent Societies (IFRC).”
Zurich said its Z Zurich Foundation, formerly known as the Jubilee Foundation, “has been reformed to broaden its scope, increase its impact and develop long-term partnerships with select NPOs. These first three partnerships, which include a financial contribution of CHF 2.5 million [$2.12 million] to each partner, aim to bring about innovative and sustainable solutions, combining Zurich’s global experience and risk management capabilities with the NPOs’ local knowledge and sustainable development expertise.”
“We believe it’s critical to our long-term business success to play our part in delivering sustainable, long-lasting solutions to important and relevant economic, social and environmental challenges. Especially in these times of financial turmoil, it is important to underpin our commitment to corporate responsibility and sustainability”, explained Martin Senn, Zurich’s Chief Investment Officer and Chairman of the Foundation’s Board.
Focus on climate change, water scarcity and food security
“The Foundation’s mission,” the bulletin continued, “is to equip people with the knowledge and resources to better manage change and risk in their lives and in the world around them. On a strategic level it will develop long-term partnerships with selected NPOs. This leading partnership model goes beyond financial support to working together in areas of common interest to Zurich and the non-profit partner.
“The Foundation’s current focus is on the interlinked challenges of climate change, water scarcity and food security. For example, the Foundation will support the innovative work of both Practical Action and the IFRC to move poor communities from vulnerability to resilience by enabling them to be better prepared for and reduce the risks of natural disasters. Here, Zurich will also bring its extensive natural disaster expertise to bear. Another example is the Foundation’s support of Rainforest Alliance’s leading climate change work, promoting sustainable forestry practices. Zurich and Rainforest Alliance will explore the links between insurance and sustainable forestry.”
Senn added: “We are very pleased to have found NPO partners who share our commitment to sustainable, long-term solutions. Through these partnerships we will work together to find solutions for the pressing interlinked challenges of climate change, water scarcity and food security.”
With potential access to the employees and risk management capabilities of Zurich worldwide, the Foundation also seeks to find ways of harnessing this expertise to add value to the work of the NPO partners beyond the Foundation’s financial contribution.
Source: Zurich Financial – www.zurich.com
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