Marriott, Apple, Google, Facebook, Schein, CVS, Sentient Technologies, American Express, JPMorgan Chase — Finding Ways to Help – and Innovate!

G&A Institute Team Note: We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

This is post #15 in the series, “Excellence in Corporate Citizenship on Display in the Coronavirus Crisis” – April 10, 2020

#WeRise2FightCOVID-19 “Corporate Purpose – Virus Crisis”

By Hank Boerner –Chair & Chief Strategist – G&A Institute

The team members at G&A Institute are in conversations throughout the day with corporate managers, with the discussions centering on sharing “what companies can do / what companies are doing” to meet the challenges of the cororanvirus pandemic.

That consideration for many companies today is both internally and external focused — the key tasks are keeping people safe, serving the community’s needs, keeping the corporate operations going to be best of their ability, and looking forward to the post-crisis era.

Here are a few selections of what executives and managers and their organizations are doing.  As we are thinking…

Life hands you the lemon / squeeze! / make the lemonade!
And get it around to others as fast as you can.

Setting An Example: Cut My Pay, Says Schein CEO

Stanley M. Bergman, CEO of Henry Schein Inc. (important suppliers to the medical community) is taking a temporary cut in salary during the virus crisis. As his company’s client base experiences hazards and cares for patients, the CEO (in SEC filing) will take 100% pay cut.

The company also stopped its share buyback program. The company markets equipment and supplies for clinics, dentist & doctor offices, and other segments of healthcare.

Schein is a co-founder of the Pandemic Supply Chain Network, using its own supply chain for distribution of testing supplies. The network was created at the 2015 Davos meeting as a public-private partnership. Now, the PSCN is part of the global COVID-19 response.

Information for you if would like to become a part of the effort: https://www.weforum.org/projects/pandemic-supply-chain-network-pscn

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Apple & Google Teaming For New “Contact-Tracing” Bluetooth App

It’s hard to get one’s head around the pandemic: millions, tens of millions, yes billions of people are stationary, immobile, not able to move around, sheltered at home, working remotely.

And tens of millions of us are not able to not move around, we must be at our posts, picking the crops, stocking the warehouse, driving the truck, stocking the shelves, manning the cash registers at retail.

Or more frightening, driving the ambulance, being on post in the emergency room or in the ICU, or in the wards with non-COVID patients.

Or driving the police car to respond to “the unknown”, or the fire truck to extinguish the blaze and save lives. Think about the EMT in the ambulance, hour after hour, running to danger.

Keeping on touch, virtually all of us, mobile and immobile rely on our cell phone…the lifeline to loved ones as well.

For those who must be on their designated post, moving around, interacting, the fear is that the virus could be too close, within reach to infect. To the rescue: Apple Inc. and Google – in a rare partnership, the rivals are adding technology to the phone to alert us if we’ve come into contact with a person with the virus.

This is to be an opt-in feature – “contact-tracing” – that immediately alerts us: quarantine and isolate and then treat or seek treatment because we have been in close contact with an infected person.

Over time we can expect to see this application added to the basic phone operating systems.

Watch for the news in May for iPhones and Android; the management of the system will be by public health agencies. The reports to the phone will be on anonymous basis. As the two companies announced the collaboration,  The phone owner must opt-in to be part of the network.

MIT says it is developing a similar system. Of course, there are numerous privacy protection issues – we’ll see how that goes on the rollout.

Facebook Joins the Tracing Effort

Facebook is one of the world’s leading social media platforms (claiming 2 billion-plus of the “connected”). Users are invited to share their own coronavirus symptoms and experiences to help researchers pinpoint “where” the disease is occurring.

Carnegie Mellon, the great tech school, is using the data in pilot effort to try to see where data is telling us help is needed. Such as the all-important ventilators that are in such short supply. Or where “go home/stay home” guidance or orders are needed. The output is going to be shared with public sector health managers.

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Headed to the Drug Store? How Do You Know What You Need is There?

The CEO of the nationwide CVS drug store network, Larry Merlo, was interviewed by Barron’s Jack Hough. The CVS stores are in the midst of becoming “HealthHUBS” (to provide medical services) and strengthening is “Caremark” program for pharmacy benefits management. And now, the CVS workforce is pressed to help customers in the midst of the virus crisis.

Explains CEO Merlo: Home deliveries are up by three times the usual volume. Tele-medicine connections are up two times. CVS waived copays for tele-medicine and for deliveries. COVID-19 testing was starting in Shrewsbury, Massachusetts (in a store parking lot) to do 100-plus test a day. Stores are being kept stocked. Limits are applied to prevent hoarding.

The company maintains close contact with suppliers to keep the pipeline stocked and moving to stores. CDC guidelines are followed in the stores. Cash bonuses are being doled out to hourly store staff, pharmacists, managers. There is day care service where possible; sick leave is granted to part-timers.

Lessons Learned: Keeping mind the Chinese sign for crisis (“danger” and “opportunity”), we learn that the CVS CEO thinks the crisis has helped to strengthen the firm’s confidence in what CVS can do to help to change the trajectory of healthcare delivery.

Pharmacies (local) and tele-medicine (distant) are key elements. The critical role that healthcare professionals play in local communities (where CVS outlets are located) is really being demonstrated today.

Marriott and Hilton have been working with CVS to create a transition for those folks who are furloughed. Speaking of Marriott…

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Holding on to Customers / Serving the Local Community & Responders

Marriott CEO Arne Sorenson in communications to patrons explains that cancellations for scheduled trips are being adjusted out to June 30th (usually 24 hours notice is required). Expiration of points accrued for use at the properties is being extended. “Experience flexibility” is the theme.

And about helping the communities in which the resorts and hotels are based:

  • Marriott properties are donating food, pre-cooked and cooked meals to crisis responders, as well as a supply of cleaning products, masks, gloves, sanitizers, wipes, shower caps, anti-microbial wipes, and other supplies to local communities. Hotel windows sport signs and symbols of love and support to those passing by.
  • Working with American Express and JPMorgan Chase (two credit card partnering organizations), Marriott committed to provide $10 million worth of hotel stays to professionals on the front lines of the crisis. “Rooms for Responders” are being made available in New York City, New Orleans, Chicago, Detroit, Los Angeles, Las Vegas, Washington DC, and Newark, New Jersey.
  • To reach the responders, Marriott is working with the American College of Emergency Physicians and Emergency Nurses Association to help match doctors and nurses with available rooms.

And the “Community Caregiver Program” initiative (coordinated by franchisees and property owners) provides deep discount accommodations near to hospitals to first responders and healthcare professionals stepping up to serve local communities. This is available in North America, the Caribbean and Latin America (at 2,500 hotels to date).

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The Food Supply in the Crisis – Changes in Post-Crisis Behaviors

What is happening in the food sector? Mike Geraghty writing on the Sensient Technologies Corporation platform shares the results of a mid-March 2020 study by Nielsen that forecasts six key consumer behavior shifts happening during the crisis.

The findings will have a major impact on the food industry and will/could lead to permanent changes in the way consumers shop for food.

These are (by their headlines):

  • Proactive Health-Minded Buying
  • Reactive Health Management
  • Pantry Preparation
  • Quarantined Living Preparation
  • Restricted Living
  • Living a New Normal

Under each category headlines there are explanations of the shifts seen in consumer behavior and COVID-19 event markers. There’s valuable findings and shared perspectives here for you from the Sentient folks (providers of color technologies and services for the food and beverage industries).

The commentary: https://sensientfoodcolors.com/en-us/global-markets/covid-19-changing-food-industry/?utm_source=FoodNavigator&utm_medium=Email%20Top%20Text%20US&utm_campaign=COVID&utm_content=Apr%202020

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G&A Institute Team Note:
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency and organize their response.

New items are posted at the top of the blog post and the items posted today will move down the queue.

We created the tag “Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts. Do join the conversation and contribute your views and news.

Do send us news about your organization – info@ga-institute.com so we can share. Stay safe – be well — keep in touch!

Principles to Guide Company Managements in the COVID-19 Era from the World Economic Forum (WEF) – The “Davos” Leaders

G&A Institute Team Note
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the coronavirus emergency.

This is post #13 in the series, “Excellence in Corporate Citizenship on Display in the Coronavirus Crisis.”  #WeRise2FightCOVID-19   “Corporate Purpose – Virus Crisis”  –  April 7 2020 

By Hank Boerner — Chair & Chief Strategist – G&A Institute

The World Economic Forum – “Davos” – issued principles on April 1st on Corporations and the Upholding of Stakeholder Principles in the Virus Crisis

Leading CEO’s around the globe got a communication from the World Economic Forum (“Davos” in shorthand) urging the following of Stakeholder Principles in the COVID Era.

The business community’s contribution in the global pandemic, say the leaders of the WEF “Covid Action Platform”, is to be leaders of responsiveness and stewards of resilience.

And — to cooperate and collaborate in managing the corporate community’s response to help society deal with the global emergency and work towards economic recovery.

To those ends, the platform Stakeholder Principles set out for business leaders are:

  • To employees, our principle is to keep you safe.
  • To our ecosystem of suppliers and customers, our principle is to secure our shared business continuity…to keep the supply chains open and integrate supply partners in the firm’s business.
  • To our end consumers, our principle is to maintain fair prices and commercial terms for essential supplies.
  • To governments and society, our principles is to offer our full support…standing ready with resources, capabilities and know-how.
  • To our shareholders, our principle remains the long-term viability of the company and its potential to create sustained value.

And…we must also maintain the principles and we must continue our sustainability efforts unabated, to bring our world closer to achieving shared goals, including the Paris climate agreement and the UN SDGs agenda.

By doing all we can, say the WEF leadership, and coordinate our work, we can ensure that our society and economy get through this crisis – and we can mitigate the impact on all of our stakeholders.

The signatories of the letter to CEOs:

  • WEF Founder Klaus Schwab (he’s executive chair);
  • Brian Moynihan (CEO of Bank of America and Chair of the WEF International Business Committee);
  • Feike Sijbesma (Royal DSM, Special Envoy on Coronavirus, Dutch Government) , and Jim Snabe (Chairman, Siemens and Maersk), the Co-Chairs of the WEF Impact Committee.

The WEF leaders stress that CEOs should continue to embody “stakeholder capitalism” to help secure a common prosperity.

CEOs receiving the letter were asked to support the WEF global effort to manage the economic impact in the COVID-19 era.

Link to the Covid Action Platform document: http://www3.weforum.org/docs/WEF_Stakeholder_Principles_COVID_Era.pdf?mod=article_inline

The WEF also circulated a 6-page “Workforce Principles for the COVID-19 Pandemic – Stakeholder Capitalism in a Time of Crisis” white paper. This is especially timely as corporate HR managers and others focus on Human Capital Management (HCM) in a time of crisis.

Link: http://www3.weforum.org/docs/WEF_NES_COVID_19_Pandemic_Workforce_Principles_2020.pdf

Our December 3, 2020 profile of the World Economic Forum (WEF) / Davos conveners with focus on Corporate Citizenship topics is in the blog at: http://ga-institute.com/Sustainability-Update/the-world-economic-forum-on-corporate-citizenship-topics-with-focus-on-the-fourth-industrial-revolution/

G&A Institute Team Note
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

New items will be posted at the top of the blog post and the items today will move down the queue.

We created the tag Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts.  Do join the conversation and contribute your views and news. 

Do send us news about your organization – info@ga-institute.com so we can share.   Stay safe – be well — keep in touch!

New Evidence During the COVID-19 Crisis That ESG Approaches Will Pay Off From Wall Street

Excellence in Corporate Citizenship on Display in the Coronavirus Crisis
Post #10 in the Series – April 6 2020

Important Bloomberg info update – April 8th

By Hank Boerner and Louis CoppolaG&A Institute

Some of the messages we’ve been sharing supports our belief that the companies that continue on the paths of their sustainability journey during the virus crisis will be stronger (in the crisis) and come out stronger as the crisis subsides. That will benefit stakeholders and shareholders.

We posit:  Those publicly-traded companies recognized as sustainable investment leaders should benefit in the competition for capital – access, cost of capital, inclusion in key indices and benchmarks, and so on.

We’ve been monitoring for news and perspectives that support the theory and share some things we’ve found with you.

HSBC Headline: ESG Stocks Did Best in COVID-19 Slump

Climate and sustainable investments outperformed as pandemic struck.

The global bank HSBC’s Ashim Paun (co-head of ESG research) in March published results of the examination of the effect of ESG factors on public companies’ equity in the virus crisis sell off.

The research looked at 613 shares of global public companies valued at more than US$500 million where “climate solutions” generate at least 10% of revenues plus 140 stocks with the highest ESG scores and values above the global average.

Key Takeaway: While the virus upended many economies and markets, shares of companies focused on ESG or climate change have outperformed.

He cites this: Performance from 23 March to 10 December 2019 (the start of the virus in East Asia) was the base for comparison.

Results: Climate-focused shares outperformed others by 7.6% from December on and by 3% since February. And from 24 February, when the market’s high volatility began.

There are four (4) “HSBC Climate Solutions Database” divisions:

  1. Environment & Land Use Management;
  2. Low Carbon & Energy Production;
  3. Energy Efficiency & Energy Management
  4. Climate Finance.

All of these beat the markets over both period – Low Carbon by 11% plus since December, says HSBC. There were regional differences noted in the research results. (The report was published 25 March.)

During the crisis period, Ashim Paun advises that investors think about how well companies are managing their ESG risks – including what companies are best-case, worst-case, and highest likelihood scenarios.

And he shared this with his global investor clients: “Our core conviction is that issuers succeed long-term, and deliver shareholder returns when the create value for all shareholders. When crisis like COVID-19 manifest, particularly with “S” and “E” causes, and implications, investors can see ESG as a defensive characteristics.

The highlights are here – access to HSBC’s full research report is limited to subscribers.

https://www.gbm.hsbc.com/insights/global-research/esg-stocks-did-best-in-corona-slump

There is a very comprehensive examination of the HSBC research on BusinessGreen:

https://www.businessgreen.com/news/4013404/hsbc-companies-focused-climate-change-outperformed-virus-spread?ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=8dd16a5562&mc_eid=cc59b566af

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In a Financial Times opinion piece by David Stevenson we saw this: He asked the question, are ESG and sustainability the new alpha mantra?

His answer: when money managers begin again to look for alpha strategies, his bet is that more than a few will tell investors that sustainability and ESG will top the list in the search for performance.

He interviewed thought leaders at Impax Asset Management, DWS and BNP Paribas and cited the research of several researchers for the column.

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Bloomberg Asks — Believe the Investor’s Urging Will Pay Off?

As we shared with you last week and repeat here as part of this commentary:

Bloomberg LP provides us with some of the answer.

Bloomberg Intelligence’s (BI) Shaheen Contractor (ESG Team BI Industry Analyst) in a brief for terminal users noted that an analysis of ESG Exchange Traded Funds (ETFs) during the selloff for the week ending February 28 provided a buffer for their investors and outperformed their benchmarks. The data: only 8% of ESG ETFs had outflows while 22% of all U.S. ETFs saw outflows.

This, as she writes, suggests ESG is seen by investors as a long-term investment and not a trading strategy.

And the flow to ESG ETF’s suggests that these instruments are “sticky” and less cyclical. Where where the flows to ESG ETFs? BlackRock, JPMorgan, BNP Paribas, Societe Generale, DWS, State Street, and Vanguard all saw inflows during the drawdown.

Good news for investors looking for “proof of concept” of ESG/sustainable investing from Shaheen Contractor – thanks to her and Bloomberg for sharing this good news.

Her email is: scontractor2@bloomberg.net

The brief: “ESG ETFs See Relative Outperformance, Inflows During Drawdown”

For information Bloomberg: https://blinks.bloomberg.com/news/stories/Q6RT29T0G1L2

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IMPORTANT UPDATE — APRIL 8TH

From Bloomberg Green – dated March 31, 2020 – Claire Ballentine reporting.

As of that date, 59% of U.S. ESG ETFs were beating the S&P 500. And 60% of European ESG ETTs were beating the MSCI Europe Index.

In 2029, sustainable ETFs added more than $8 billion (4X the 2018 level) and another $4 billion were added in January 2020.

Even with the sell off in February and March, $3 billion was added in that period.

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G&A Institute Team Note
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

The new items will be posted at the top of the blog post and the items posted today will move down the queue.

We created the tag “Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag “#WeRise2FightCOVID-19” for our Twitter posts. Do join the conversation and contribute your views and news.

Do send us news about your organization – info@ga-institute.com so we can share. Stay safe – be well — keep in touch!

COVID-19 — And the Global Fashion Industry – Dramatic Impacts – And Good News

By Jesse VelazquezGRI Report Analyst Intern at G&A Institute

Good news in the midst of bad news — emblematic of the COVID-19 crisis environment. 

#7 in the Series – Excellence in Corporate Citizenship on Display in the Corona Virus Crisis

The impact of the coronavirus on the fashion industry has been felt at the height of the season’s fashion month with fashion show events from Giorgio Armani, Prada, Gucci, and Versace, to name a few, cancelled across the world.

In the midst of the bad news there is also welcome news of excellence in corporate citizenship from the industry.  We bring you this wrap-up.

Sharp decreases in sales and revenue loss with global brands like Nike and Uniqlo closing store locations and experiencing major supply chain disruptions with many factories operating out of China, Italy, and France having to close.

The troubling news:

Some retailers, such as Victoria’s Secret, have also had to temporarily close their e-commerce sites.

Reported earnings are stark across the board, with names like Ralph Lauren reporting a decrease in sales by an estimate of US$55 to $70 million dollars.

Capri Holdings — which owns Versace, Michael Kors, and Jimmy Choo brands — experienced a revenue loss of US$100 million dollars, according to CNBC.

Fashion retailers took major hits in the stock market with companies like Gap Inc., down 11.8%; J.C. Penny, down 12.1%; and Nordstrom Inc., down 11.4% (to name but a few).

Smaller fashion brands are unable to weather the financial losses of the pandemic. Los Angeles fashion brand Bldwn had to go directly into Chapter 7 bankruptcy, liquidating assets and letting go of its entire staff.

There are others that have also had to file Chapter 7. Chanel, a major fashion house, had to halt its productions in Italy, France, and Switzerland for the next 2 weeks — but announced its workers will still be paid.

Looking Creatively At the Way Forward

In the midst of all the turmoil, the fashion industry is looking for creative ways to move forward, such as staging fashion shows on Facebook Live and stepping up their philanthropic efforts in their impacted communities.

The Good News
Here are just some of the contributions to COVID-19 relief from the global fashion industry:

Giorgio Armani has donated 1.25 million euros to hospitals and institutions in Italy, and Versace contributed about $144.000 to the China Red Cross Foundation.

LVMH — which owns Dior, Fendi, Louis Vuitton, and Givenchy — is using its perfumes and cosmetics division to produce and distribute hydroalcoholic gel (free) for French hospitals. They also announced that they will be supplying French authorities with more than 40 million face masks in collaboration with a Chinese manufacturer.

Ralph Lauren pledged $10 million dollars to be split among World Health Organization (WHO) COVID-19 Solidarity Response Fund and CFDA’s “A Common Thread” project, among others.

Gucci is donating 2 million euros to COVID-19 efforts. This is split between the Italian Civil Protection Department (Gucci is based in Italy), and through a matching Facebook campaign for the WHO COVID-19 Solidarity Response Fund. Gucci also pledged to make more than 1 million protective face masks.

Nike had announced that it will donate $15 million dollars in COVID-19 relief efforts in communities both in the US and abroad where Nike employees live and work. It has also recently announced that it is prototyping a face shield to help protect healthcare professionals.

GAP Inc. announced that it will use its factories to make gowns, masks, and scrubs for healthcare workers.

Prada is one of the latest high-end fashion brand to announce that they will produce 110,000 masks by April 6th..

As businesses are able to reallocate their personnel, assets, and networks to support the communities that support them in times of crisis, there are strong signals that the private sector has the capacity to not only transform business to be more resilient to change, but also our communities, and society.

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Note: Along the lines of this wrap-up, Hank Boerner highlighted Estee Lauder’s actions in the Excellence in Corporate Citizenship Series on Display in the Coronavirus Crisis blog –  on March 25, 2020.

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Jesse Velazquez is a GRI Report Analyst Intern at G&A Institute. He’s a career managers in retailing with leading organizations and stepped down from his management role to pursue a degree in Environmental Sustainability (full-time) and now analyzing corporate sustainability / responsibility disclosure & reporting at G&A.

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G&A Institute Team Note
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

The new items will be posted at the top of the blog post and the items today will move down the queue.

We created the tag Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts.  Do join the conversation and contribute your views and news.

Send us news about your organization – info@ga-institute.com so we can share.   Stay safe – be well — keep in touch!

Estée Lauder Companies Actions in the Crisis

Continuing the Series – Excellence in Corporate Citizenship on Display in the Coronavirus Crisis – Actions Taken By the Corporate Sector Leaders – #5 in the series

March 25, 2020
by Hank Boerner – Chair & Chief Strategist – G&A Institute and the G&A team — continuing the conversation about corporate and investor response to the coronavirus crisis.  From this post on, we are going to share news about the corporate sectors’ actions for ease of reference for our readers.  We’re sharing these posts through our social media and suggest you might do the same to help get the news around.

See the first post in the queue for details about this series – scan down to see that for information.

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“Guided by its family values and spirit of giving,” The Estée Lauder Companies and The Estée Lauder Companies Charitable Foundation (ELCCF) “stand with the global community” and are adjusting the traditional giving programs to provide aid to help limit the spread of the virus and help to ease economic hardships. Just announced:

The company and foundation are supporting the work of Doctors Without Borders/Medicins Sans Frontieres (MSF) with a financial grant of US$2 million. Among the many projects of MSF, the international medical humanitarian assistance has been lending aid to people in distress.

Such as in wartorn Syria, with one million people uprooted in the midst of war, suffering food shortages, lack of medical aid, and now the virus crisis. The MSF organization has to date provided specialized burn units, surgery, physiotherapy and psychological support in Syria and other regions of the world.

The Estée Lauder financial assistance will help Doctors Without Borders/Medicin Sans Frontieres in highly-impacted countries.

The company’s Melville, New York manufacturing plant (on the Nassau-Suffolk counties border) re-opens now to produce hand sanitizer for high-need organizations and populations – especially including front-line medical staff.

Note: compensated employee volunteers are doing the vital work here, as both counties are covered by the New York State “stay at home” guidance.

In New York City, where the company is headquartered, a grant was provided to support “The NYC COVID-19 Response & Impact Fund”. This is administered by the New York Community Trust which manages hundreds of family and organizational trusts and makes targeted grants to worthy causes.

The new fund will (with at least US$75 million raised to date) support NYC’s vital social services and cultural community organizations.

The 90-year old NY Community Trust helps donors “make smart grantmaking solutions” that address the quality of life issues that align with the donors’ values. (The Trust staff is continuing their work remotely as New York City is mostly shut down.)

The various donors (individual and organizational) are typically investing in such buckets as those addressing poverty, justice, education, health, arts, environment, LGBTQ, elderly, and children and teens. More information is at: https://www.nycommunitytrust.org/

In China, over $800,000 was awarded by Estée Lauder to relief efforts – including the Red Cross Society of China, Shanghai Charity Foundation, and Give2Asia. $1.4 million was provided with in-kind donations to the China Women’s Development Foundation to support front line medical staff.

As the crisis evolves, ELC and the ELCCF will continue to align philanthropic resources based on needs – prioritizing food, medical and emergency assistance. The foundation focuses effort on health, education and the environment and makes annual grants to organizations that align with these.

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Congratulations to the global Estée Lauder team (in the USA and other nations, wherever you are working today).  These efforts reflect the values instilled early on in the firm from those earliest day by founder Estée Lauder and husband, Joseph, in New York City in 1946.  They created cleansers, oils, skin lotions, creams. Today grandson William P. Lauder is executive chairman of the global firm that makes fragrances, hair and skin makeup products, make up, and other products.   Founder Estée Lauder was named by Time magazine in 1998 as one of the 20 most influential business leaders of the 20th Century.

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G&A Institute Team Note
We are continuing to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

The new items are posted (beginning with this one) at the top of the blog post and the items then will move down the queue.

We created the tag “Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts. Join the conversation and contribute your views and news — email info@ga-institute.com. Keep up the good fight!

A Special Message From the G&A Institute Team – To Our Valued Colleagues

From all of us on the G&A Institute team, our greetings to you wherever you are working today.  From conversations, we know many of you are sheltered in place, and preparing for this period of uncertainty and anxiety. 

We hope this communication finds you safe and well today, and able to continue to be engaged and connected.

We wish for the same for your family and colleagues (your business family). These are the times of many unknowns and adjustments as we quickly move away from our usual daily “normal” to find the way forward through the crisis and on to post-emergency recovery.

This is a time of great uncertainty as society “closes down” in terms of the many things we do every day and take for granted.  We work at home today, not the office.  We have food delivered and don’t go to stores or restaurants. We don’t take public transportation to work or drive the car to the facility parking lot.  Our colleagues are now voices on the phone, not the co-worker in the room next door in the office.

In summer 2019, The Business Roundtable (the association of leading CEOs in the U.S.) re-defined its “Purpose of a Corporation” statement to pledge to promote an economy that serves all Americans. Jamie Dimon, Chair/CEO of JPMorgan Chase, was then the chair.  His comments in 2019 apply many times over in March 2020:

“The American dream is alive but fraying.
Major employers are investing in their workers and communities
because they know it is the only way to be successful over the long term.
These modernized principles [of the BRT] reflect the business community’s
unwavering commitment to continue to push for an economy
that serves all Americans.” 

Today, the almost 200 CEOs of major companies signing on to the updated principles are challenged to keep the promise. Millions of us are counting on the corporate sector to help us through the crisis, many now partnering with federal, state and local communities to address the challenges.

From our team’s crisis management work over many years, we know that the “unknown” is the important fear factor – for many people, what “if” quickly comes to mind.  We can talk instead about “what is”, what is the known and what we can do about it, even in some small way to help reassure.  And, we can give other people something to do.

Staying at home – that is doing something positive to do on the personal level.  What we can do in and from the home – that is our contribution to addressing the emergency affecting all of society.

Today, we are using this communication with you to share this from our team:

We are writing to say that we are here for you, continuing our communications with you and sharing information, as best we can, given the circumstances.  We are able to report that all of our team members are doing OK and connected and working remotely to keep things on track.  (Of course, like some of you with young children at home, it’s an interesting juggling act!)

As some of you may know, our G&A team members have been working together for several decades (depending on when the team member joined).  Our prior firm, where many of the founding members were a dedicated team, was a premier crisis management consultancy, serving the Fortune 500(R) companies. 

Our experience includes having all hands on deck during the September 11th attacks in 2001 to support our clients.  And, helping clients with strategies and support and communication in the aftermath and recovery period as the nation got back to business.

We applied that crisis & issue management, strategic communication legacy, experience and knowledge base in the emerging field of corporate ESG / sustainability / citizenship and sustainable investing when we founded the company in 2006-07.

We will continue to communicate with you via our usual channels to help to keep you informed and updated.  We want to continue “the normal” as much as we can and our weekly newsletter will be part of that effort.

The global emergency presents risk to us, yes, but also opportunity for all of us individually and collectively, as teams working together, to be strengthened.  Our organization’s reputation and brand to be enhanced, and the demonstration of “sustainability” in the traditional use of the term  – to be viable, resilient and here for the long-term for all stakeholders. 

The Wei Ji, the ancient Chinese symbol for risk and opportunity, presents the two sides of today’s crisis environment. On the opportunity side of the risk equation, we think that excellence in corporate citizenship will be on full display these days, visible to all of our stakeholders.

What the company does, its mission stated clearly, the actions taken, the protection of stakeholders, the protection of brand and products, the caring for Human Capital, the actions that benefit society…all of this will demonstrate the character, purpose, and culture of the corporate entity.

The old saying today is something to consider — now is the time for all good companies to come to the aid of their countrymen.

The ESG / sustainability / responsibility work underway by you and your organization during these challenging times is a strong foundation of all of this. It’s what sustainability leadership and excellence is corporate citizenship is all about – continue on with the good work!  Continue on the path is our advice today.

Let us know if we can help in any way.  We are all in this together – and we will enter the post-emergency period together, to be stronger than ever.

Do keep safe and secure and healthy. We’ll keep communicating with you. Keeping as much as we can “normal” in the new normal is important.

The team at Governance & Accountability Institute.