The FINANCIAL - Morgan Stanley donates additional $2.5 mln to hunger relief organizations globally

Morgan Stanley donates additional $2.5 mln to hunger relief organizations globally

Morgan Stanley donates additional $2.5 mln to hunger relief organizations globally

The FINANCIAL -- Morgan Stanley today announced a donation of $2.5 million to hunger relief organizations worldwide, equaling 25 million meals, as a result of its latest employee campaign: Move for Meals. From October 16-18, nearly 10,500 employees in more than 440 cities around the world participated in the Move for Meals Campaign, walking 250 million steps to raise awareness about global hunger in recognition of World Food Day. 

The Morgan Stanley Move for Meals Campaign builds on the Firm’s previously announced COVID-19 Hunger Relief Campaign, which took place at the start of the pandemic and raised over $2 million globally in employee donations alone. Since then, the needs of our communities have unfortunately worsened, with one in four people malnourished globally and, in the U.S. alone, one in six people possibly facing hunger in 2020 as a result of the pandemic.

“The high level of employee engagement, combined with the Firm’s monetary commitment, is a true testament to our employee’s dedication to giving back and fighting hunger,” said Joan Steinberg, Global Head of Philanthropy at Morgan Stanley. “Food insecurity has always been a crucial issue that millions are faced with, but now with the issue exacerbated by the pandemic, it is important that we leverage our global reach to support over 20 partner organizations worldwide that are on the front lines of addressing hunger disparities during the current health crisis.”

Since the start of the pandemic, food banks across the U.S. and around the world have seen both their food supplies drop and their demand increase. Feeding America, a long-time charitable partner of Morgan Stanley that fights hunger by supporting 200 network member food banks across in the U.S., reports their need has nearly doubled since the pandemic hit the U.S.‒according to their predictions, nearly 54 million Americans could need food assistance this year ‒ while food donations have fallen by 55 percent.

Through the Move for Meals and COVID-19 Hunger Relief Campaigns, Morgan Stanley has supported critical feeding partners in all of our major locations globally. In total, this brings the Firm’s commitment to support COVID-19 relief efforts to $80 million, including prior grants to food assistance partners, such as Feeding America and Akshaya Patra.

Author: The FINANCIAL