Alcoa (NYSE:AA) and Alcoa Foundation announced combined community giving of more than $40 million in 2012, compared with $38 million in 2011, as well as 800,000 hours of employee volunteerism worth $29 million. The annual giving results were released today in recognition of International Corporate Philanthropy Day, which celebrates business-community partnerships around the world.
Alcoa Inc. contributed $18 million last year to support projects and partnerships with non-governmental and nonprofit organizations around the world. In addition, Alcoa Foundation directed $21.5 million in funding towards enhancing the environment, educating tomorrow's workforce for careers in advanced manufacturing and engineering, and strengthening communities where Alcoa operates around the world. In Brazil, Instituto Alcoa distributed $1.5 million towards programs that meet the needs of people and communities near Alcoa’s operations.
“Recognizing the changing demographics of the global workforce, in 2012, Alcoa Foundation began to focus more on targeted programs that reach diverse populations, particularly in Science, Technology, Engineering and Math (STEM) education and workforce development in manufacturing,” said Paula Davis, President, Alcoa Foundation and Vice President, Alcoa Inc.
“International Corporate Philanthropy Day is a great way to celebrate the breadth of work that corporations do around the world and, for Alcoa, highlight our regional efforts that serve diverse individuals, from women and girls in Canada to people with disabilities in Brazil to minorities in the U.S. While diversity is defined differently across geographic regions, our goals are the same – to prepare the next generation of leaders for prosperous and satisfying careers in STEM and manufacturing,” said Davis.
Focus on diversity
According to an analysis by the Society for Human Resource Management, North American companies embrace change that involves greater diversity overall. In Western Europe, there is a stronger focus on attracting and retaining female employees, with less emphasis on other minority groups. In Asia, companies believe they are already diverse, but that additional measures would ensure future growth. Alcoa sees opportunities across the board and is already seeing advancements.