Since its launch, the Fund has deployed more than €9 million to thousands of families facing hardship.
Solvay today announced that it is activating the Group’s solidarity fund to contribute €500,000 to three trusted associations supporting the populations impacted by the earthquake disasters.
“We were deeply saddened by the devastating earthquakes that took place in Turkey and Syria and our hearts go out to all who are suffering right now. ” said Solvay CEO, Ilham Kadri. “We are working closely with our business partners in the region to provide help, and we have activated the Solvay Solidarity Fund to support humanitarian initiatives to bring relief to the population."
The organizations that Solvay will support are International Blue Crescent Relief and Development Foundation (CBI) for Syria and AHBAP and AFAD for Turkey. Through these organizations, the Fund will provide support to medical teams and those who have lost their homes. Given the winter conditions in the affected areas of Turkey and Syria, CBI's priority is to distribute tents, heaters, blankets, warm clothing and food to families.
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, namely it provided financial support to those affected by the war in Ukraine with a €1.5 million donation to a number of initiatives organized at global and site levels.
Solvay received the 2022 CEFIC European Responsible Care Awards in the category of Humanitarian Aid recognizing its efforts for those most affected by the conflict. An overview of the Fund’s donations will be detailed in the 2022 solidarity fund impact progress report, available at the end of February.
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Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 21,000 employees in 63 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 €10.1 billion in 2021. 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.
