Barclays GRCB India: Corporate Social Responsibility Update 2008
In 2008, £52.2 million was invested in community projects around the world and more than 57,361 employees in over 50 countries were involved in fundraising, volunteering and regular-giving initiatives. These investments in the community are in keeping with Barclays strategy of sustainability and its attempts to ensure the holistic development of the communities the bank operates in.
The three most visible pillars of the bank’s CSR model are as follows:
- Banking on brighter futures
- Looking after local communities
- Charity begins at work
This creates a defined path of maximising resources, while creating a paradigm of sustainable impact.
Banking on Brighter Futures is Barclays flagship programme through which financial contributions are made, bringing the power and capability of the organisation to tackle social issues. Across the world, and in India, Barclays is working with the local communities to create the desired sustainable change. Through The Barclays Pledge, $150 million is being invested, over the next five years, in the Banking on Brighter Futures programme. 1,500 projects around the world will be supported and colleagues will be encouraged to volunteer 150,000 hours of work time to get involved. Efforts are focused on financial inclusion, entrepreneurship, education, enterprise and helping people into employment.
A highlight of this initiative has been the recent $10mn global partnership with UNICEF, as part of which Barclays will invest $1.68 million in a three-year project in India.
- The project will address the current lack of business skills and financial literacy among disadvantaged girls and women, to help them to create sustainable livelihoods.
- A total of 70,000 adolescent girls will be provided with life skills education, including financial literacy and leadership skills.
- 140,000 women will be supported to develop key business management skills, enabling them to increase their income and financial security.
- Barclays’ employees will be actively engaged in the project, providing technical and professional expertise and knowledge in life skills such as financial literacy, entrepreneurship and business management.
Another pillar of corporate sustainability is the involvement with the local communities under the Looking after Local Communities programme. Barclay’s commitment helps in fulfilling local responsibilities; investments are made in numerous neighborhoods around the world where Barclays has a presence. Notable projects initiated this year include:
- A healthcare project is being supported through a mobile van hospital initiative with the Sri Satya Sai Trust
- Infrastructure support for education is being provided for the visually challenged through SIES in Mumbai.
- We are currently in the midst of a project with ‘I Love Mumbai’ In an attempt to provide relief to those adversely affected by the terror attacks of 26/11 in Mumbai, Barclays has donated Great Britain Pound £50, 000 to the organization and is seeking the support of like-minded organizations to provide relief to those in need and also fund a series of disaster management training programmes that will be conducted by ‘I Love Mumbai’ with the youth of the city through 2009..
Supporting causes that matter in local markets is one of the best ways that Barclays can meet specific needs and engage local stakeholders - be they customers, community representatives or colleagues.
Charity begins at work is that vital component of Barclays community investment programme. At the heart of this is the desire to engage and support colleagues who want to get involved with the causes they care about most. The objective is to harness their energy, time and skills because all involved have huge amounts to give – and gain – by being involved.
- Employee engagement is driven largely through the bank’s initiative, Make a Difference Day, which is celebrated world-wide across the Barclays Group in October – November each year. Employees from around the Barclays world are urged to spend at least a day supporting a cause or a charity of their choice – not in terms of money, but in terms of their time. The bank supports them in their venture by providing them time off from work and by funding the basic material they require to make their project a reality.
- To facilitate greater participation in this initiative, Barclays GRB India launched Make a Difference, Paint a Difference. Over 400 employees and their families participated in this initiative this year that sought to create paintings on how we could all make the world a better place. These were then translated into cards and calendars, which were sold and the money raised given to Concern India Foundation.
Barclays offers a comprehensive range of support to colleagues globally, including matched fundraising, time off work and grants for volunteering. In 2008, £14.7 million was raised for thousands of charities by colleagues who gave their time, money and skills to make it a success.
