New foundation launches with initial 10mn for engineering-related causes

Industrial technology company Smiths Group has launched the Smiths Group Foundation, with a primary focus on expanding access to Science, Technology, Engineering and Maths (STEM) skills.

£10mn is available initially from the Smiths Group Foundation, and grants will be both globally and locally focused, enabling it to support causes close to Smiths’ locations and communities. The funding will be awarded through a grants process starting in the Group’s new financial year (beginning 1 August 2023), with the new Foundation administered by the Charities Aid Foundation (CAF).

Grants will focus on three areas:

• Improving access to quality STEM education and skills for underrepresented groups
• Improving safety and connectedness within communities
• Improving the environmental sustainability of those communities

John Ostergren, Chief Sustainability Officer at Smiths Group, said:

“We are proud to take this step honouring and extending Smiths Group’s longstanding commitment to our many communities around the world. Strong communities benefit us all and at Smiths we recognise the practical importance and many rewards of giving back. The Smiths Group Foundation will help increase our impact, deliver on our purpose and create lasting value for all of our stakeholders.”

Vera Kirikova, Chief People Officer at Smiths Group, added: 

“For us at Smiths it’s so important to make a meaningful contribution to society. There is a great deal of excitement about the Foundation internally and we look forward to connecting the enthusiasm and expertise of our people at Smiths to make a positive impact on the communities.”

The Foundation will be directed by a committee of Smiths employees who will review grant applications and determine how to allocate funds. The Foundation and committee will be supported by CAF, which will help to create the strategy and governance structure, identify causes where Smiths can make the most impact, and work with recipients to measure the impact of grants.

In addition to the launch of its Foundation, Smiths Group is also expanding its commitment to employee volunteering to give every employee one day of paid volunteering leave each year. Currently on offer in the UK, from FY24, this will be offered across each of the Group’s divisions in the more than 50 countries in which Smiths operates.

from UK Fundraising https://ift.tt/ShPc4vz