Since its launch, the Fund has deployed more than €10 million to thousands of families facing hardship.
Solvay today announced that it is activating the Group’s solidarity fund to contribute €300,000 to two trusted associations supporting the populations impacted by the earthquake disaster in Morocco.
“We were deeply saddened by the devastating earthquake that struck Morocco and our hearts go out to all those affected by this tragedy,” said Solvay CEO, Ilham Kadri. “In times of adversity, it is essential for us to come together as a community to offer solace, assistance and solidarity towards our Moroccan colleagues and their families. This is why we have activated the Solvay Solidarity Fund to support humanitarian initiatives to bring relief to the population."
Solvay will directly donate €150,000 to support the special fund set up within the Moroccan Central Bank at the request of His Majesty King Mohammed VI to provide effective aid where it is needed, based on a mapping of the most urgent needs. The Moroccan Red Crescent will also receive € 150,000 from the Solvay Solidarity Fund for emergency support to affected communities, providing first aid services, psychosocial support and helping to transport the injured to hospitals.
The Solvay Solidarity Fund provides funding for Solvay to live its Purpose. Originally set up to help employees cope with hardship due to the covid-19 pandemic, the Solvay Solidarity Fund provides assistance to communities confronted with other kinds of hardship.
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Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 22,000 employees in 61 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €13.4 billion in 2022. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.
In April 2020, Solvay created the Solidarity Fund to help employees and communities cope with hardship due to the covid-19 pandemic. €15 million were donated by shareholders, directors, senior management and many employees. The Fund now also addresses other kinds of hardship, including providing relief and assistance to those affected by the conflict in Ukraine.
This fund is managed by the King Baudouin Foundation and led by a management committee with equal representation from the Foundation, Solvay and a third party. All three are responsible for deciding on the fund's donations based on criteria in line with the status of the King Baudouin Foundation. The accounting of the fund’s activities is subject to an annual independent audit and regular reporting on the use of the funds and impact reached.
