Each business within Prudential has its own particular identity and area of expertise. At the same time, we are all part of Prudential group and, through our community investment, we aim to promote the overall reputation of the Prudential brand. We strive to achieve high standards in our community investment activity.
“I am delighted with the momentum that has been built since the launch of The Chairman’s Award. In 2007, over 2,000 employees volunteered to help community projects around the world. In 2008 we will continue to build momentum and support some 50 projects in this programme.”
Sir David Clementi, Chairman, Prudential plc
KEY PERFORMANCE INDICATOR:
Make a measurable and positive impact in the communities where we operate.
In monetary terms, the Prudential group spent £4.9 million in 2007 in support of the community. Within this, direct donations to charitable organisations amounted to £3.1 million, of which approximately £2.2 million came from EU operations.
The Chairman's Award
The Chairman’s Award is our international employee volunteering programme. This was set up in 2006, to recognise that many employees make a significant contribution to charities, as volunteers in their own time, and to give all our employees the opportunity to get involved with a local charitable project.
The charities that we support were selected following a Group-wide survey of our employees, which identified a preference to volunteer on projects that address the needs of children and the elderly within their local community. We have identified and supported sustainable projects, where possible, that have education at their core.
In 2007, over 2,000 employees spent 7,400 hours volunteering with over 50 projects in our markets around the world.
At the end of 2007, our employees voted for the volunteering projects that they felt had made the greatest impact on the local community.
The 2007 winner of The Chairman’s Award was Plan International Thailand. Over 370 employees in Thailand gave up their free time to volunteer with Plan International’s Reforestation and Forest Conservation Project, supporting communities in 16 villages across the Chiang Rai region. Second prize was awarded to the Taiwan Fund for Children and Families’ One to One after school tutoring programme which involved 250 employees and agents in the region. Junior Achievement Indonesia’s schools mentoring programme, involving 72 schools country-wide, received third prize.
“I was very impressed that so many Prudential volunteers travelled over 800 kilometres to join the project. They interacted with the rural hill tribe communities by sharing the physical work of planting young trees and created environmental awareness posters for local school children.
Many volunteers had not visited a hill tribe area before and they learnt a great deal about how community development makes a difference to the lives of children.”
The Przezorność foundation
In October 2003, Prudential established the Przezorność Foundation in Poland, which is distributing a total of US$4 million to nominated Polish charities over a period of five years. Prudential operated in Poland prior to World War II through our subsidiary 'Przezorność' (acquired in 1927). The assets of our Polish business were seized by the occupying authorities in 1939, at which time 4,623 policies were in force. The assets were never returned and Prudential holds no assets deriving from our former Polish business.
Since that time, Prudential has been trying to locate these former policy-holders or their heirs. Over 37 per cent of them have been traced and their policies settled since the early 1950s, despite significant gaps in our records. Prudential recognises that it is highly unlikely that it will be able to trace all of the policyholders or their descendants. In recognition of this fact and in respect of the memories of those whom we cannot trace, we decided to establish the Przezorność Foundation in Poland.
The charities receiving funding deal with welfare, cultural, historical and educational issues. Funds are split 50:50 between Jewish Polish and non-Jewish Polish organisations, reflecting our estimate of the profile of our former policyholder base.
The Foundation supports 21 charities in Poland. It will complete its five-year programme of projects in September 2008.
Prudential UK in the community
The focus of Prudential UK’s community programme is on making a difference to retirement in our local communities. The programme is focused on where we can make the greatest difference to the communities in which we operate. There are five key areas of Prudential’s community programme: education; sport; the arts; community days and giving to charity.
In 2007, Prudential UK celebrated the volunteering efforts, either individually or through team events, which its employees make in the community, through the launch of the Employee Volunteering Awards (EVA). Winners of each category were awarded £1,000 for their chosen charity. Beneficiaries included: the British Red Cross; Stirling District Association of Mental Health; Macmillan Cancer Support; the National Society for the Prevention of Cruelty to Children (NSPCC) and the Association of Scottish Talking Newspapers.
Prudential Corporation Asia
Children and Education
Helping people to plan for a brighter future is at the heart of our business and community activities in Asia. Our children and education-focused programmes aim to give young people the best opportunities to develop their potential. Examples include:
In Korea, PCA LIFE, in collaboration with the British Council and SOS Children’s Villages, sponsors the English Adventure programme for children in communities with limited opportunities for English education. English Adventure is a mobile classroom equipped with interactive software for a fun and innovative approach to language education. Over 10,000 students from 21 schools and two SOS Children’s Villages have benefited from this programme.
In Malaysia, Prudential Assurance’s employees raised funds to refurbish PRUhome, including its library. PRUhome is a shelter home for underprivileged children fully-funded by Prudential Assurance. Funds were raised from the sale of cards and flowers as well as calendars that featured paintings by PRUhome kids.
In Singapore, Prudential Assurance sponsored Prudential Children First! Singapore International Festival for Children presented by ACT 3 International. The festival brings entertainment from around the world to Singapore, to inspire the imagination of children through high quality teaching materials. Over 70 local schools participated, including more than 17,800 students.
PRUfriends
Prudential Corporation Asia continues to support the community through activities and initiatives throughout Asia that go beyond financial services. We do so through PRUfriends, a programme that directs community investment to where it will provide the most benefit, harnessing the knowledge and expertise of local community organisations and Prudential Corporation Asia employees.
Our response to natural disasters shows employees, customers and governments that we have a long-term commitment to the countries where we operate. After an earthquake hit the Yogya area of Indonesia in May 2006, Prudential Corporation Asia donated relief funds and launched a school renovation programme at SMP 1 Bambanglipuro, a damaged school in the area. In April 2007, the school building was renovated.
In Malaysia, Prudential Assurance’s agents and employees played their part in the relief efforts to help flood victims in the southern tip of Peninsular Malaysia which was ravaged by rain in December 2006. Some of the funds raised were donated towards the purchase of new computers, cupboards and tables for one school affected by the flood.
In the Philippines, PRU LIFE UK partnered the non-governmental organisation Gawad Kalinga in Metro Manila, to build the PRU LIFE UK-Felicity Village for the homeless. Over 150 houses will be constructed in the village by the end of 2008. PRU LIFE UK’s employees and agents will be actively involved in the project by making donations and contributing their time to help with the construction of the houses during weekends.
Prudence Foundation
The Prudence Foundation was established in 2003 and is committed to supporting the mind, body and spirit of the Vietnamese people.
The Prudence Foundation has introduced a number of initiatives to promote learning, athletics and IT, including the launch of English language courses for government officials to improve their English language skills for international business negotiation.
In 2003, the Foundation launched the Prudence Cup, a nationwide tennis tournament aimed at helping Vietnamese children aged 8 - 14 years old to improve their tennis skills. Prudential will also be launching IT scholarships to develop young talent.
To date, the Foundation has trained over 2,000 Vietnamese government officials in Business English for trade talks and business communication and has provided tennis training for 1,800 young tennis players.
M&G
M&G supports the communities in our areas of operation in a variety of ways including charitable donations, sponsorship of events and encouragement of employee participation in community life and charitable activity.
In 2007, donations were made to over 137 charities in support of projects and activities under: social and welfare; education; children and youth; arts and heritage; environment; medical and health.
Almost 100 employees either took part in fundraising events or were involved in volunteering.
PRUPIM
Our investment properties have an effect on the communities that surround them. Similarly, a property’s local environment and community can affect its value.
Through targeted community investment programmes, we create significant benefits for local communities. By focusing initiatives on key local issues, such as eradicating vandalism or improving the local environment, we believe we are in a position to strengthen these communities. In addition, we also recognise that there is an opportunity for community investment to achieve real engagement with our employees.
Prudential 4 Youth and Prudential Grass Roots continued to be PRUPIM’s key community programmes during 2007. The Prudential 4 Youth programme engages and empowers young people as partners in tackling crime and community safety issues through active citizenship and social enterprise in shopping centres across England and Wales. The programme is funded by Prudential plc and managed by PRUPIM and Crime Concern.
The Prudential Grass Roots programme supports communities to improve their local environment. Run by BTCV, the UK’s leading practical conservation charity (and funded by Prudential plc), the programme is helping to drive the regeneration for people and wildlife in communities around Prudential owned properties across the UK.
PRUPIM has also set an ambitious target to have 20 per cent of its employees taking part in employee volunteering by the end of 2008. An important part of reaching that target will be encouraging teams to volunteer for their annual teambuilding day. During 2007, almost 10 per cent of PRUPIM’s employees took part in volunteering events.
Jackson
In the US, Jackson formed the Jackson National Community Fund (JNCF) in January 2007. In June 2007, an internal volunteer-based programme named Jackson in Action was launched.
In its inaugural year, the JNCF and the Jackson in Action programme have surpassed all of their goals. Jackson and its employees have donated more than US$1 million in corporate sponsorships, in-kind donations, and donation matches to charitable organisations that benefit children and the elderly. Employees donated more than 2,250 hours of their time with charitable organisations that support children and the elderly. Eight Jackson senior executives serve as members of the Board of Directors for eight local children and elderly focused charities, donating their time and resources.
Jackson’s community relations programme is national in scope, but geographically concentrated in those communities in which our US operations have a major presence.