Moody’s Corporation Provides $1 Million in Funding for COVID-19 Relief
NEW YORK--(BUSINESS WIRE)--Moody’s Corporation (NYSE: MCO) today announced that it will fund a $1 million program of charitable donations and other support to help address the immediate and long-term impact of COVID-19. Moody’s will extend support to its existing philanthropic partners to help small businesses and education systems and reconfigure its employee volunteer programs to assist communities most affected by the pandemic.
“COVID-19 has caused unprecedented disruption to the health and economic security of people around the world,” said Raymond McDaniel, President and CEO of Moody’s Corporation. “Moody’s Corporation and our employees are committed to assisting organizations that are providing vital relief and recovery work in local communities during this difficult time.”
To help with urgent needs, Moody’s will provide $550,000 of funding for humanitarian aid to support global efforts to alleviate food insecurity, bolster healthcare systems, purchase medical supplies, and support research focused on containment and treatment. Funds will also be distributed to organizations involved in direct relief work in communities where Moody’s operates, including:
- Global: UN Foundation’s COVID-19 Solidarity Response Fund supporting the World Health Organization (WHO) and its partners
- North America: Team Rubicon US/Canada and NYC COVID-19 Response & Impact Fund
- Latin America: Direct Relief International
- EMEA: Doctors Without Borders and Save the Children
- APAC: Give2Asia
This funding builds on Moody’s $50,000 donation to Give2Asia in January, which helped provide health care workers with training and medical equipment to contain the spread of COVID-19 in China.
Moody’s will also increase support for its existing CSR program partners by pledging an additional $450,000 in unrestricted grants to address the impact of COVID-19 on small businesses and education systems. The company will also provide partners with pro bono resources to bolster their operations and support their transition to virtual programs.
In addition, Moody’s will be instituting a virtual employee volunteer program and reconfiguring its Moody’s Future Solutions™ program to allow employees to continue their community engagements while adhering to social distancing guidelines. The company also will match eligible employee donations to nonprofits responding to COVID-19 via its Matching Gifts Program.