Chevron Increases Total Global Fund Investment to $60 Million
Chevron Corp. (NYSE:CVX) announced that it will commit an additional $5 million over two years to The Global Fund to Fight AIDS, Tuberculosis and Malaria to target the prevention of mother-to-child transmission of HIV (PMTCT) in Nigeria. This commitment raises Chevron’s 8-year investment in the Global Fund to $60 million, making the company the single largest private sector partner to the organization.
“We recognize the deep interdependence of healthy businesses and healthy societies,” said Rhonda Zygocki, executive vice president, Policy and Planning for Chevron Corp.. “Our continued partnership with the Global Fund reflects our long-term commitment to investing in health, education and economic development initiatives that help build strong communities.”
Chevron became The Global Fund’s inaugural Corporate Champion in January 2008, when it committed $30 million to support AIDS, tuberculosis and malaria programs in Asia and Africa. In 2010, the company made an additional commitment of $25 million to fight HIV/AIDS and PMTCT in Angola, South Africa, Thailand, and Vietnam.
In expanding its reach, Chevron initially chose The Global Fund as a partner in 2008 because its performance-based model provides an efficient and highly-impactful way to sustain healthy communities around the world. The Global Fund also places a significant emphasis on measurement and evaluation of the programs it funds, ensuring that Chevron’s investments are making a tangible difference. To date, Chevron has played a part in saving 8.7 million lives through the company’s support of The Global Fund.
“Chevron has shown commendable leadership in the fight against infectious diseases,” said Dr. Mark Dybul, the executive director of The Global Fund. “With shared responsibility and strong partnerships with governments, civil society and private sector players like Chevron, we will defeat these deadly diseases. Chevron’s strong support helps bring us ever closer to this historic opportunity.”
Chevron has been at the forefront of the fight against AIDS since 1986 when it joined other U.S. companies to promote education and reduce stigma in the workplace. In the 1990s, Chevron expanded efforts internationally and in 2005 was the first energy company to institute a global HIV and AIDS policy supporting employees and their families.
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
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