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2007 COMMUNITY DEVELOPMENT REPORT

 

The recipients of one of the houses
Old Mutual SA employees helped
to build with Habitat for Humanity.

Our social investment programmes operate principally in the countries where our businesses are located, working with selected charities and other organisations to benefit causes supported by the Group. These include education, health and welfare, local economic development, the environment and the arts. In South Africa particular attention is paid to Black Economic Empowerment (BEE) and HIV/Aids. The Financial Sector Charter (FSC) targets for BEE and transformation continue to be met and exceeded in many areas by the Group's local businesses.

 

Old Mutual plc

Old Mutual plc makes donations to charities through its Bermuda Foundation. The funds are split into different pots: staff choice, staff matching, ad hoc donations and a CEO selection. In 2007 Old Mutual plc staff selected three charities to receive support through the staff choice programme. The Lavender Trust, Habitat for Humanity and Thames 21 received £10 000 each. Additional money was raised for the Lavender Trust through Breast Cancer Awareness Month. The office sold pin badges and had a Wear it Pink day to raise funds. Donations from the ad hoc fund supported music workshops in schools by the City of London Sinfonia for a second year.

Staff participated in a number of fundraising events in 2007, many of which received matching donations. One member of staff raised over £2 000 for the neonatal unit at Barts Hospital. Many members of staff took part in running events, in support of nominated charities from the Race for Life to the Great South Run.

Ad hoc donations from the Bermuda Foundation were made throughout the year. The main project that received support was the Lord Mayor's Appeal. Further support was given to the homelessness charity Crisis, both through the Crisis Square Mile Run and the Christmas Card Challenge. Staff also attended a number of charity diners during the year, including the Railway Ball, a charity gala night raising money to stop abuse of street children.

Old Mutual plc continued its support for the Nelson Mandela Foundation, which aims to promote the growth of human fulfilment and the continuous expansion of the frontiers of freedom through four programmes: the Nelson Mandela Centre of Memory and Commemoration, a lecture and seminar series, HIV/Aids projects, and education and rural development. Old Mutual plc has committed to giving a total of £1 million over five years.

Support was again given to the Chairman's scholarship fund. This fund is run in association with the Centre for Financial and Management Studies at the School of Oriental and African Studies at the University of London. Old Mutual has agreed to support a number of students on selected courses such as the MSc Financial Management, MSc Financial Economics and the Postgraduate Diploma in Economic Principles. The fund was launched in 2007 and will provide support for the duration of the students' courses.

At the end of 2007, The Bermuda Foundation had assets of over £4.6 million, including 3 650 000 shares in Old Mutual plc.

 

OMAM (UK)

OMAM (UK)'s corporate charitable giving programme gave £2 000 to support a number of employee-driven charitable causes. These included the Stroke Association, Oxford Mencap, the Anthony Nolan Trust and the Prostate Cancer Charity.

The company also held a charity raffle at its Christmas Party and raised £3 000, which was split between the National Blind Children's Society and the Children's Heart Foundation. As part of joint activities with other tenants at Old Mutual Place, employees also participated in Jeans for Genes Day and Wear it Pink Day. In 2007, instead of sending traditional Christmas cards, the Company once again made a donation of £5 000 to Save the Children.

In 2007, as part of the process of continual improvement, OMAM (UK) launched a number of new initiatives to reduce its environmental impact. These included the widespread introduction of chlorine-free and recycled paper, agreeing to a re-use scheme for computers through a registered charity, using an energy-efficient hybrid car hire firm, and increasing internal communications to raise awareness and usage of existing environmental schemes. Work was also done with regard to responsible energy management (including improvements in energy efficiency and the use of renewable energy) and to select office equipment and materials with inherently lower environmental impacts.

 

South Africa

1. Old Mutual South Africa

1.1  Local Economic Development
1.2  Staff Volunteerism
1.3  HIV/Aids projects
1.4  Masisizane
1.5  Black Economic Empowerment (BEE)
1.6  Financial Sector Charter

2. Nedbank Group

2.1  HIV/Aids
2.2  Employee Participation
2.3  Foundation/Trusts
2.4  BEE

3.  Mutual & Federal

1. Old Mutual South Africa

Old Mutual South Africa (OMSA) is committed to growing and investing in socially responsible business activities, employment equity and diversity, skills development and affirmative procurement, as well as sustainable social investment projects and the active involvement of employees in social and community affairs. Its Corporate Citizenship programme recognises the value of non-financial performance and social accountability.

The Old Mutual South Africa Foundation (the Foundation) is the primary source of funds for OMSA's social investment programme.

In 2007, the Foundation began a three-year medium-term strategy whose areas of focus are local economic and enterprise development (LEED) and staff volunteerism. The Foundation also supports HIV/Aids projects.

These programmes continue to offer help to local communities, to vulnerable children and to OMSA staff who wish to participate in voluntary activities.

General Programmes saw Old Mutual employees, including Group Chief Executive Jim Sutcliffe building five houses in Gauteng and five houses in Mfuleni with Habitat for Humanity, which brought the total number of houses built by Old Mutual in South Africa through the efforts of staff volunteers to 35.

The Out of the Box Environmental Education Programme was launched in Johannesburg in April 2007, thereby extending the work already done in the Cape Town region.

OMSA also has the Masisizane Trust that funds a number of projects and works to develop shared growth.

A summary of OMSA's activities is found here, for more information please see OMSA's Corporate Citizenship Report for 2007. The report contains details of Old Mutual (South Africa)'s social investment and their contribution to South Africa's economic transformation, including BEE programmes and their alignment to the FSC. A printed copy of the report may be requested from the Corporate Affairs Manager, Old Mutual (South Africa) or from the Head of Corporate Responsibility, Old Mutual plc.

1.1 Local Economic Development

The LEED programme was launched in 2007, with over R9.5 million given in support of 12 programmes. The Product to Market skills development programme was one of the Foundation's largest investments, helping 126 craftsmen develop their careers.

1.2 Staff Volunteerism

The Staff Volunteer Programme consists of the Staff Community Builder Programme, "Adopt an Orphan" and the Staff Charity Fund.

This programme was renewed during 2007, making donations of R6.3 million in this year. The Staff Community Builder Programme supported 174 projects, giving R3.2 million to the local community. Sixteen organisations were supported through the Staff Charity Fund, with a total of over R340 000 distributed to causes such as abused children, HIV/Aids charities, the elderly and animal welfare groups. Care and Share Week was a great success, with almost 90 projects approved and nearly 2 000 employees signed up to support them. The "Adopt an Orphan" programme encourages staff to commit a regular amount of R50 per month - matched Rand for Rand by the Foundation - towards the care and support of vulnerable children. The Foundation's partner organisation, Heartbeat, manages the administration of funding of the children supported by the programme and works to address their educational and welfare needs.

1.3 HIV/Aids projects

OMSA has adopted a four-pronged strategy to address the social and economic challenges caused by the HIV/Aids epidemic in South Africa. This strategy covers the workplace (employees), the broader community, financial services and advice (customers) and business impacts. The Foundation has worked with a number of organisations in this area, including Heartbeat, NOAH and Helping Hands. The Foundation's AIDS Orphans Programme supported NOAH in its successful application to be the charity of choice for the Two Oceans Marathon for the next three years. During 2007 over 5,000 orphans were supported through the programme and training was also given to over 130 people to enable them to supply home-based care supporting orphans or vulnerable children.

1.4 Masisizane

OMSA launched the Masisizane Trust during 2007 using some of the proceeds released from the closure of the company's South African Unclaimed Shares Trust.

Masisizane has been incorporated to co-ordinate the delivery of these initiatives. A mix of representatives from Old Mutual plc, OMSA, the Group's empowerment partners (WIPHOLD and Brimstone) and two external representatives will oversee them. More information on the projects supported can be found on the Masisizane website.

All of these interventions are in addition to existing business and corporate social activities undertaken by OMSA. The intention is that each initiative should make a meaningful investment in shared growth, as envisaged in the Government's plans for the Accelerated and Shared Growth.

Unclaimed Shares Trust

When Old Mutual became a publicly listed company in 1999, eligible Old Mutual policyholders were issued with free shares. Under the scheme of demutualisation approved by the South African High Court, persons eligible to receive those free shares were required to claim them. Since then, some 98% of the shares have been claimed by the original policyholders. Two percent of the shares remained unclaimed despite strenuous efforts to trace those potential shareholders.

The Trust in South Africa closed in August 2006, as required by the Trust Deed, with the 54 million remaining unclaimed shares being sold. In line with management's recommendation, shareholders agreed at the Old Mutual plc Annual General Meeting on 24 May 2007 that the after-tax proceeds would be used as follows: R400 million would be retained to meet claims from any remaining policyholders who had not yet claimed their shares with any residue remaining after three years from 31 August 2006, to be used to benefit South Africa; R300 million would be used to improve the benefits of certain small policyholders; and some R400 million would be invested in development initiatives that would contribute to shared economic growth in South Africa.

1.5 Black Economic Empowerment (BEE)

After the end of apartheid in 1994 and with the advent of majority rule, control of big business in both the public and private sectors still rested primarily in the hands of white individuals. Black Economic Empowerment (BEE) is a programme launched by the South African government to redress the inequalities of apartheid by giving previously disadvantaged groups (black Africans, Coloureds and Indians who are South African citizens) economic opportunities previously not available to them. BEE is intended to transform the economy to be representative of the demographic make-up of the country. It includes measures such as employment equity, skills development, ownership, management, socio-economic development and preferential procurement.

OMSA is committed to broad-based empowerment and to being rated an "A" performer as measured by the Financial Sector Charter (FSC). Initiatives continue to be implemented to develop staff, particularly in the area of management and leadership, and to ensure that black staff are supported in their roles as leaders in the Group. Other objectives of these initiatives are to contribute to the building of a strong and stable society and democracy through sound infrastructural investments, to facilitate the entry of black entrepreneurs into corporate South Africa through structuring and investing in BEE deals, and to make direct investments into communities and society at large.

OMSA has a good track record in each of these areas, having already set industry benchmarks in infrastructural investment, corporate social investment, staff development and training and the creation of a diverse workplace.

The black business partners introduced to the company as a result of the empowerment transactions entered into with the Brimstone and WIPHOLD consortia during 2005 have had a marked impact on the overall transformation strategies of OMSA. These partners have played a key advisory role in diverse areas such as small and medium company development, skills development, stakeholder relations and product development.

All parties remain committed to the performance contracts entered into as part of those transactions and these should continue to position OMSA as a leading exponent of transformation within the South African context.

1.6 Financial Sector Charter

The South African Financial Sector Charter is a transformation charter in terms of the Broad-based Black Economic Empowerment (BBBEE) Act. The Charter came into effect in January 2004 as a result of the Financial Sector Summit hosted by the National Economic Development and Labour Council (Nedlac), the multilateral social dialogue forum on social, economic and labour policy. The Nedlac partners - government, business, labour and community constituencies - negotiated the Financial Sector Summit Agreements on transforming the financial sector and signed the Summit declaration on 20 August 2002. The objectives of the Charter are to:

  • Constitute a framework and establish the principles upon which BEE will be implemented in the financial sector;
  • Provide the basis for the sector's engagement with other stakeholders
  • Establish targets and un-quantified responsibilities in respect of each principle; and
  • Outline processes for implementing the charter and mechanisms to monitor and report on progress.

In pursuit of these objectives, the Charter commits financial institutions in the sector to transforming in the areas of:

  • Human resource development;
  • Procurement of goods and services;
  • Access to financial services;
  • Empowerment financing (including targeted investments in transformational infrastructure, low-income housing, agricultural development and black SMEs as well as BEE transaction financing);
  • Ownership and control and
  • Corporate social investment.
 

2. Nedbank Group

Nedbank Group (Nedbank) contributed R35 million to community projects during 2007. These were carried out mainly through the Nedbank Foundation, which spent R30 million to support over 200 projects in the areas of welfare, community development, economic development, heritage, arts and culture and education, with the largest contribution going to the last of these. The Foundation's contribution was double the level required by the Financial Sector Charter (FSC).

Nedbank aims to help meet the challenge of giving all South African children a good education. Through its focus on rural school development, the Nedbank Foundation has made significant investments to provide better learning facilities for some of the country's most needy communities. The organisation has been involved in the development of youth centres in both Gauteng and KwaZulu-Natal, which offer skills and financial management training and business education to out-of-school and out-of-work youths. During 2007 these 300 young men and women benefited from these programmes.

During 2007, Nedbank unveiled two promotional "solar billboards". The first panel generated electricity for a kitchen at MC Weiler Primary School in Alexandra Township in Gauteng, enabling the school to cook meals for more than 1 400 children every day. This initiative led to Nedbank winning the first-ever Grand Prix Award at the Cannes Advertising Awards. The second billboard was unveiled towards the end of 2007 in Athlone in the Western Cape.

Nedbank's programmes include projects working on HIV/Aids and a large Employee Participation programme has been developed and run successfully over the years. Much of the community investment comes from the Foundation and Trusts that work from within Nedbank and support the arts, sport and environmental projects.

Through its economic development work, the Nedbank Foundation directly addresses another important South African national priority, job generation, by helping people to improve their skills. Women and out-of-school young people are a particular focus of the programme. Implementation of these programmes is often in partnership with non-governmental or community-based organisations. As part of its focus on education Nedbank has supported the Walter Sisulu University in the Eastern Cape, with a donation funding equipment for two media centres for its Department of Economics.

More information on Nedbank's approach to the FSC and BEE, as well as further details of the projects supported by the Nedbank Foundation, is provided in its Sustainability Report. Printed copies can be requested from the Senior Manager, Corporate Governance and Sustainability, Nedbank Group Limited.

2.1 HIV/Aids

Nedbank's health strategy focuses on prevention of HIV/Aids among those who aren't infected and on positive living for those who are. Prevention involves educational work, while the Positive Living programme aims to extend life expectancy and improve the quality of life of those living with the virus. Nedbank helps children who have been left vulnerable by the pandemic - as well as those living with the disease - and employees are encouraged to become personally involved in HIV/Aids projects.

2.2 Employee Participation

Nedbank encourages its employees to become involved in charitable activities by providing time, energy, talent and leadership skills. Team Challenge is an example of this - it is team-based, community-focused and designed to give employees an opportunity to win a share of R230 000 for their favoured causes.

During 2007, a new category was introduced, the seven-day challenge, to encourage staff to become involved in projects that could be completed in under a week. The winning long-term team supported the Simphumelele Home, which provides care for children who have been abandoned, neglected or abused. Projects supported by the wining seven-day teams included vegetable gardens for a children's care centre and donation of beds to a nursery at a children's home in Soweto.

The Local Hero programme is an initiative that honours staff members who make a difference in their communities through volunteer work. It supports and showcases the efforts of these individuals, thereby furthering a culture of employee involvement and caring. The qualifying criteria are stringent and the commitment from the staff member must be long-term. In 2007 there were 43 applications, with R390 000 being donated. During the year the programme was also extended to include projects supported by the bank's customers.

2.3 Foundation/Trusts

The BoE Education Foundation and BoE Charitable Trust provided R3 million of support to projects in education and welfare during 2007, focusing especially on the Gauteng, Western Cape and KwaZulu-Natal regions. Over R560 000 was distributed by the Nedbank NBS Centenary Foundation, with a focus on early childhood development and welfare. Many awareness days and public fund-raising events were also held in conjunction with staff.

Nedbank has had a long association with sport for the disabled, the highlight being the annual Nedbank Championships for the Physically Disabled. These championships support Nedbank's continuing sponsorship of the South African Paralympic Team, which will compete in Beijing in 2008.

The Nedbank Green, Sports, Arts and Culture and Children's Affinities continued during 2007. These operate in conjunction with affinity bank accounts opened and run by Nedbank's customers, with donations by the company based on how regularly these accounts are used. Together they have donated nearly R100 million to environmental, sports, arts and children's projects since they began.

Green Trust

The Green Trust, a partnership between Nedbank and WWF-SA, is a partnership that supports conservation projects through community-based programmes. Since its inception in 1990, the Trust has funded over 150 conservation projects throughout South Africa, with over R5 million donated by Nedbank during 2007. Projects receiving support include rehabilitation projects for a variety of species and a wider biodiversity programme.

Sports Trust

The Sports Trust donated over R850 000 during 2007 to support a number of projects, including a Bicycle Empowerment Network, which promotes the use of bicycles as a low-cost and environmentally friendly mode of transport, and the establishment of netball courts and cricket nets at the Diamantveld Primary School.

Arts and Culture Trust

Donations during 2007 by the Nedbank Arts & Culture Trust exceeded R450 000. Recipients of donations included the Jikeleza Dance Project, which works with disadvantaged children in Hout Bay.

Children's Affinity

The Nedbank Children's Affinity, which works in partnership with the Nelson Mandela Children's Fund (NMCF), aims to improve the quality of life for South Africa's children and youth. The fund's education programmes support orphans and vulnerable children. During 2007, Nedbank and its Children's Affinity customers donated nearly R3.5 million to the NMCF, helping the fund to support nearly 70 projects.

2.4 BEE (Black Economic Empowerment)

As one of the signatories of the Financial Sector Charter (FSC), Nedbank remains committed to meeting and exceeding its requirements and to achieving the ideals of transformation and implementing BEE initiatives under the FSC within acceptable risk parameters. The organisation has taken a number of steps to ensure this. Its philosophy is to differentiate itself in terms of its BEE approach by strengthening existing BEE relationships, creating new ones among established and new BEE players in the market, and supporting emerging BEE players.

 

3. Mutual & Federal

In 2007, Mutual & Federal (M&F) spent just under R 2 million supporting various charitable organisations, focusing on education, health and welfare, road traffic safety, crime prevention and conservation. Organisations which received support included the Drive Alive Trust, NICRO, Business Against Crime, the WWF, the SA Conservation Education Trust and the Endangered Wildlife Fund.

M&F's sport sponsorship focuses on cricket and rowing and amounted to R1.14 million in 2007. Through its sponsorship of the Mutual & Federal Cricket Annual and the Annual Cricket Awards, the company has established a solid relationship with Cricket South Africa. The company also sponsors the Annual Universities Boat Race held in Port Alfred, including a novice race which was introduced in 2007.

In addition to its Corporate Social Investment programme, M&F has established a Community Trust that has identified three major areas of need in South Africa. The first is youth empowerment, the second Aids orphans, vulnerable children and child-headed households, and the third enterprise development. During 2007 the Trust supported SOS Children's Villages in Mpumalanga and MaAfrica Tikkun in Gauteng to run projects supporting empowerment and disadvantaged children. Support was also extended to a social upliftment project in the Western Cape.

 

Rest of Africa

1. Namibia
2. Zimbabwe
3. Malawi
4. Kenya

1. Namibia

The Old Mutual Namibia Foundation (OMNF) is committed to being a good corporate citizen and to helping to create sustainable livelihoods in Namibia. The Foundation tries to ensure that, through mutual understanding and responsible behaviour, the role of business in building a better future is recognised and encouraged.

The OMNF's agenda is tailored to meet the company's social priorities by supporting education, health and welfare and accelerating the transition to a sustainable way of life in local communities.

During 2007, over N$1 600 000 was spent on existing projects as well as new partnerships. Among the projects supported were the Ekondopeko Mathematics Project in conjunction with Nedbank, which for the second year, worked for the upliftment of mathematics in rural areas.

In the health and welfare area, a donation was made to the Ministry of Health and Social Services to support a project in the Tsumkwe constituency working with the local community to tackle tuberculosis. Support for community development projects included the Mahetago Community Centre where community skills training workshops are held. To date over 600 community members have been trained. Project Etango, a project to convert decommissioned shipping containers into offices, kitchens, counselling centres or classrooms for local communities, will receive a three-year commitment from Old Mutual Namibia in the form of donations and employee support through the Staff Community Builder programme.

At the end of 2007, the Namibian Foundation had assets of nearly N$11 million, including 5 478 000 shares in Old Mutual plc.

BEE

In September 2006, the Old Mutual Group announced BEE transactions in Namibia, which resulted in a broad range of black stakeholders acquiring ownership of N$308 million worth of the Group's Namibian businesses. There were three separate, but interdependent BEE transactions for Old Mutual Namibia, Nedbank Namibia and Mutual & Federal Namibia.

These transactions included employees, strategic business partners, distributors, trade union members and their families, women's organisations and church groups. Three business consortia were carefully selected from different parts of Namibia as business partners on the basis of their ability to add value by attracting new customers to the current businesses.

These consortia are all broad-based, have empowerment credentials, demonstrate strong leadership, share the Group's values and have relevant financial services experience. The Group also selected strategic community partners, notably Women's Action for Development and a consortium of large church groups, as active partners to grow the business and contribute to the development of communities across Namibia. Work continued with these strategic community partners during 2007.

 

2. Zimbabwe

During 2007, Old Mutual Zimbabwe (OMZ) continued to support projects under its structured social responsibility programme, including community projects, arts and culture programmes and business and education programmes.

The Jarios Jiri Centre continued to receive support, OMZ supplied funds to help renovate the centre's plumbing and staff held a Christmas party for the children. Over Z$270 million was donated to the Centre during the year.

OMZ also provided support to the SOS Children's Village Kindergarten Project through a donation of Z$3 500 million, which funded the building of a theatre supporting the work of local villagers who care for abandoned and orphaned children.

The company provided Z$100 million to the Chitungwiza Harmony Singers to support them in their participation in the Old Mutual/Telkom Choral Festival. The choir came first and third in the Western and Africa categories respectively.

A donation of Z$2 000 million was made to the Bulawayo Athletic Club, to rebuild their clubhouse following a major fire.

Z$500 million was donated to the Foundation for Sustainable Development programme, which not only aims to address environmental challenges, but also works to empower local disadvantaged groups including those affected by HIV/Aids. In total during 2007 the Old Mutual Zimbabwe Foundation donated over Z$24 000 million to over 20 projects.

At the end of the year, the Zimbabwe Foundation had assets of Z$37.9 trillion, including 2 222 517 shares in Old Mutual plc.

3. Malawi

Old Mutual Malawi (OMM) continued to support a number of projects in the education and health sector. Total donations amounting to MK3.7 million were made in 2007 to various organisations and schools.

The company donated food and mattresses were made to Montfort School for the Deaf and Blind and Ekwendeni School for the Blind through the Lions Club of Mzuzu.

Donations also went to a fun run to raise funds to buy equipment for the maternity wing at Mzuzu Central Hospital. Sponsorship was provided to St Andrews International High School for its project to manufacture bicycle ambulances for rural areas of the country.

The Rotary Club of Lilongwe, Athletics Association of Malawi, Malawi against Polio and the Southern Region Volleyball Championship also received donations.

The OMM HIV and Aids workplace programmes organised workshops for staff and their spouses in Blantyre and Lilongwe and also funded the Chibale Golf Society tournament, which assists orphans in Namwera and Manone.

At the end of the year, the Malawi Foundation had assets of over MK138 million, including 333 200 shares in Old Mutual plc.

4. Kenya

Old Mutual Kenya (OMK) supported numerous projects in 2007, with total donations of Kshs 1.2 million. Projects that received support included training the dependants of customers in career planning and goal-setting. Through this programme over 300 students in Nairobi, Mombasa and Kisumu received guidance. OMK worked with a local NGO to support projects focusing on HIV/Aids.

 

USA

1. Old Mutual Asset Management (US)
2. Old Mutual Financial Network (OMFN)

1. Old Mutual Asset Management (US)

Old Mutual Asset Management (OMAMUS) remains committed to supporting local communities in need around its Boston headquarters and member firm locations through its employee-run charitable foundation. The OMAMUS Charitable Foundation continued to focus its efforts during 2007 on four target areas: community, healthcare, homelessness and emergency/crisis intervention and strove to make meaningful contributions to its partner organisations. In 2007, the Foundation made direct gifts of US$277 000.

Among the causes supported were City Year, Boys and Girls Club of America, the Salvation Army and the United Way, as well as local organisations including the Pine Street Inn, Home for Little Wanderers, Rosie's Place, Women of Means, and the Massachusetts Society for the Prevention of Cruelty to Children.

In addition to making monetary grants through its charitable foundation, OMAMUS seeks to promote employee involvement by encouraging employees to take advantage of their paid volunteer day, sponsoring company-wide charitable events and matching personal charitable gifts from Foundation assets.

During the year, OMAMUS employees lent their support to Daffodil Days, which benefits the American Cancer Society, Lee Denim Day, which supports the Susan G. Komen Foundation, and a toy drive benefiting the children at the Home for Little Wanderers.

Employees also participated in the JP Morgan Chase Corporate Challenge and the Epal programme in which employees mentor local high school children via email. OMAMUS also sponsored a company outing in which all staff spent half a day volunteering at the Greater Boston Food Bank.

2. Old Mutual Financial Network

The Group's US Life business, Old Mutual Financial Network (OMFN), made significant contributions to a number of worthy organisations during the year. Employee gifts to charitable organisations were matched by OMFN through its matching programme on a dollar-for-dollar basis up to an annual limit of $1 000.

During 2007, nearly 70 projects and/or organisations were supported in this way with the focus being on education, health and community issues. Organisations that received donations included the Maryland Food Bank, the Leukaemia & Lymphoma Society, National MS Society and the Johns Hopkins Children's Center.

The Atlanta office participated in a three-day Breast Cancer walk to benefit Susan G. Komen for the Cure, the world's largest grassroots network of breast cancer survivors and activists. Events like this have supported the raising of nearly $1 billion to fulfil the charity's promise to become the world's largest source of non-profit funds dedicated to the fight against breast cancer. Total funds generated by employees - and subsequently matched by the company - exceeded $20 000.

From a corporate perspective, OMFN supported local organisations, including Rebuilding Together, a non-profit organisation that works with local businesses and community associations to repair the homes of low-income, elderly or disabled homeowners.

OMFN also again supported the University of Baltimore's Baltimore City Scholars and Leadership programme. OMFN also supported the Beans & Bread programme, Big Brother, Big Sisters, Ronald McDonald House, the American Red Cross and the American Cancer Society.

 

Skandia

1. Nordic
2. Europe
3. Latin America
4. UK & Offshore

Corporate social responsibility plays an integral role in Skandia's business. At the beginning of 2007, the business units in the Skandia Group agreed and adopted various formal CSR Principles.

1. Nordic Region

In May 2007 the Nordic division supported the Skandia Group CSR Principles by introducing CSR Principles for the local region. A working group was established with responsibility for implementing these principles.

Sweden and Denmark

Skandia Sweden has a long history of supporting societal development projects. Over the past few years, the company has focused on projects that support and develop the young. This is done mostly through Ideas for Life (IFL), the Nordic region's flagship programme. Currently in its 21st year, IFL works preventively and long term, providing activities for children and youth under the guidance of parents and teachers.

The work is done in close co-operation with municipalities, schools and other organisations. The IFL consists of a central unit through which projects are directed by a project co-ordinator. Skandia offers professional guidance and support, but also financial support depending on the objective of the project.

Nearly 400 Skandia employees are working as ambassadors for IFL, devoting many working hours to activities for children and young people. Part of the IFL funding comes from a not-for-profit mutual fund - when a customer selects this offering, 2% of the net asset value goes directly to the IFL Foundation. Skandia Denmark started its own IFL Foundation in 1998 based on the Swedish model. Over 30% of employees have signed up.

Skandia Sweden also continued supporting the Ren Idrott Foundation during 2007. Set up in 2002, this has helped 35 of Sweden's most famous athletes become role models for clean sport. The main purpose is to educate youngsters that one can be the best at sport without using drugs.

2. Europe

Skandia Switzerland supported a wide variety of charities and causes during 2007, with staff raising funds for various not-for-profit organisations including Wunderlamps, which helps sick children fulfil a dream.

Skandia Poland once again supported the Scandinavian Sports Family Festival, and, among other projects, immunisation cards for children.

Every year Skandia Vita in Italy donates money for the distribution of Christmas gifts to social associations. In 2007, among other charities, they donated money to Bambini Cerebrolesi, which supports children born with brain problems, and their families.

Skandia Germany started to develop a general corporate responsibility concept, with the objective of integrating and centralising all social and environmental initiatives from mid-2008. In 2007 the business gave €2 000 to a local homeless charity to fund Christmas dinner and shelter for 800 people.

Skandia Austria donated a total of €17 500 to projects such as the EKZ Tournament for Children, which supports local community sporting projects. Schmetterlingskinder again received €10 000 to support its work with children suffering from epidermolysis bullosa, a rare genetic condition that leaves them with extremely fragile skin.

3. Latin America

Among the beneficiaries of Skandia Colombia's corporate responsibility programme during 2007 was the International Dialogue project, which is designed to prevent drug abuse among children and young people. Forty Skandia employees acted as mentors to children at the Home San Mauricio.

The business also supported financial education initiatives, and the Skandia Cultural Centre, a corporate initiative that promotes culture through music, painting and visual arts.

Skandia Mexico continued to support a large-scale project, working with children with cancer. This programme, which is run in association with Casa de la Amistad, supports them through their treatment and helps them to continue their education. In Chile, staff once again hosted a Christmas party for disadvantaged children from the suburbs of Santiago.

4. UK & Offshore division

In 2007, Skandia UK & Offshore division gave over £20 000 to charities through employee support, company matching and company donations of 50p for every employee who participated in an annual survey. The largest recipients were Wessex Cancer Trust and the NSPCC.

Another charity supported by the company was the Saints in the Community programme, a Southampton-based programme helps over 80 000 children every year to build confidence and improve numeracy and literacy skills through coaching and mentoring initiatives. Through Saints in the Community, Skandia UK & Offshore has donated £1 500 and raised more than £1 200 through employee support, and employees have donated a total of 367 hours of their time, most of which has been during working hours.

Children in Need and Comic Relief were also supported with employees raising nearly £2 500 for each charity. Through its title sponsorhip of Skandia Cowes Week, the Skandia UK & Offshore division also supports the Ellen MacArthur Trust as the event's official charity.