How HSBC’s charitable trust ensures Hong Kong’s better long-term future
- The Hongkong Bank Foundation, formed in 1981, has distributed over US$300 million to more than 10,000 community projects and helped over seven million beneficiaries
- Voluntary work at heart of philanthropy as bank staff Joyce Chong, Margaret Chan, Caroline Leung and Punit Mehrotra support city’s youth, elderly and underprivileged
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As one of the largest employers in Hong Kong, HSBC believes it is vital to give back to the people of the city, especially underserved communities. Voluntary work is at the very heart of HSBC’s philanthropic endeavours and to date, its staff have contributed more than one million hours to helping the community.
In 1981, The Hongkong Bank Foundation was formed to bring together HSBC’s community initiatives under one umbrella. For over 40 years, the charitable trust has distributed more than HK$2.4 billion (US$300 million) to over 10,000 projects and helped more than seven million beneficiaries.
Beyond alleviating immediate problems, the foundation looks at efforts that can have a long-term impact and create a better future for Hong Kong in areas involving the city’s youth, elderly, underprivileged communities and sustainability.
Support for Hong Kong’s community during crises
Although the world has largely emerged from the devastating Covid-19 pandemic, memories of the disruptions to everyday life are still vivid to many. It affected people from all walks of life, but the underprivileged were especially hard hit.
During the pandemic, the foundation teamed up with the Hong Kong Red Cross to introduce the “Hong Kong Red Cross Covid-19 Support Hotline” and provide care packages containing healthcare items or food to 9,500 people.