Thursday, February 1, 2007

Imagine: Exxon/Mobil Choosing to Save 5 million children per year

Imagine.

Imagine if Exxon decided to commit $ 7.5 billion of its record $39.5 billion profits to its foundation (which incidentally is presided over by Ken Cohen) and fund on a 1:1 matching basis any increase in foreign government spending, official donor aid, foundation aid, etc. for safe drinking water, sanitation, and hygiene education in developing countries.  That would no doubt produce the additional $ 15 billion/year required to meet the Millenium Development Goal of reducing by 1/2 the number of people in the world that lack safe drinking water and sanitation [[i.e. provide roughly 1 billion more people with this life-saving commodity]].

Just imagine.

Exxon's current profits:
2:55 PM ET Feb 1, 2007
HOUSTON (MarketWatch) -- Exxon Mobil Corp. turned in its biggest profit ever on Thursday, with momentum from last year's record oil prices powering the world's No. 1 publicly-traded oil company through a weaker fourth quarter to a staggering $39.5 billion profit for 2006.
Exxon's annual results, up nearly 10% from $36 billion in 2005, set a new benchmark for U.S. corporate profit. Revenue for the year rose 2% to $377.6 billion -- flowing in at a rate of more than a billion dollars a day.

 
Exxon's Current Giving from its Worldwide Giving Report
spacer.gif

In 2005, Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation, the primary philanthropic arm of the corporation in the United States, combined to provide $132.8 million in donations of cash, goods and services worldwide. Of the total, $81.1 million supported communities in the United States and $51.7 million supported communities in other countries around the world. Spending included traditional contributions to nonprofit organizations, as well as funds invested in social projects through various joint venture arrangements, production sharing agreements, projects operated by others, and contractual social bonus arrangements.ExxonMobil Total 2004 Contributions

spacer.gif

Exxon Mobil's Worldwide Giving Report
spacer.gif

Exxon Mobil Corporation believes in creating a positive and lasting social impact by developing successful partnerships built on mutual trust and respect. With operations in nearly 200 countries and territories and more than a 120-year history, we have a long tradition of making a positive contribution in the communities and economies in which we operate.

spacer.gif
ExxonMobil Total 2004 Contributions

In 2005, Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation, the primary philanthropic arm of the corporation in the United States, combined to provide $132.8 million in donations of cash, goods and services worldwide. Of the total, $81.1 million supported communities in the United States and $51.7 million supported communities in other countries around the world. Spending included traditional contributions to nonprofit organizations, as well as funds invested in social projects through various joint venture arrangements, production sharing agreements, projects operated by others, and contractual social bonus arrangements.

spacer.gif

Beyond the Corporation’s investments, ExxonMobil employees, retirees, and their families contribute their own time and money to charitable organizations. In 2005, employees and retirees donated $35 million through ExxonMobil’s higher education, cultural, and disaster-relief matching programs and employee-giving campaigns. When combined with corporate donations, ExxonMobil, together with its employees and retirees, contributed $168 million to community investments around the world. In addition, over 12,000 ExxonMobil employees, retirees, and their families worldwide donated more than 826,000 volunteer hours to more than 5800 charitable organizations in 22 countries.

In 2005, ExxonMobil and its employees and retirees contributed more than $22 million to assist with relief and recovery efforts responding to natural disasters around the world. Contributions in response to the devastating December 2004 tsunami totaled more than $11 million. In support of Hurricanes Katrina and Rita relief efforts, cash donations totaled more than $10 million and the company donated in-kind fuel and lubricants totaling almost $1 million. ExxonMobil also funded relief efforts in response to the Pakistani earthquake, Hurricane Stan (which impacted Mexico and Central America), and severe flooding in Venezuela.

spacer.gif Makeshift school at an IDP camp in Banda Aceh, Indonesia
spacer.gif

Continuing our long tradition of working to improve public health in communities where we operate, we awarded more than $10 million through our Africa Health Initiative in 2005. This program, established in 2000, supports activities that contribute to the prevention, control and treatment of malaria. ExxonMobil has now contributed more than $20 million to support international and local health organizations and programs in the fight against malaria and to support important public health activities.

As an extension of ExxonMobil’s long-standing support for education, we launched a new Educating Women and Girls Initiative in the developing world.  This initiative, which was funded at $3 million in 2005, is aimed at improving education opportunities for women and girls as a foundation of societal progress, development, and economic growth. By funding such programs, we believe we have targeted the most powerful development tool of all. Research consistently shows that educating women and girls yields a higher rate of return than any other community investment available in the developing world.

spacer.gif Makeshift school at an IDP camp in Banda Aceh, Indonesia
spacer.gif

The key area of community investment in the United States continues to be the support of education in both the K through 12 and higher education areas. In 2005, more than $42 million was directed to the funding of education worldwide, with more than $33 million benefiting the United States to support higher education and the teaching and learning of science, technology, engineering, and mathematics (STEM). ExxonMobil also supports programs to improve career opportunities for women and under-represented groups, with specific focus on the STEM areas.

The following reports highlight ExxonMobil’s 2005 worldwide contributions and community investments of $132.8 million, list organizations in the United States that received grants of $5,000 or more, and summarize our investments benefiting countries outside the United States. Contributions reflected in these reports were made by Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation.

http://lawprofessors.typepad.com/environmental_law/2007/02/imagine_exxonmo.html

Economics, Energy, Governance/Management, International, Water Quality, Water Resources | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00d835730a4769e2

Listed below are links to weblogs that reference Imagine: Exxon/Mobil Choosing to Save 5 million children per year:

Comments

Post a comment