Smiths Group Announces Launch of Charitable Foundation

2023-06-14 16:17

LONDON--(BUSINESS WIRE)--Jun 14, 2023--

Smiths Group, the industrial technology company, announces today the launch of its new charitable foundation. The Smiths Group Foundation is committing an initial £10m of funding linked to engineering-related good causes, awarded through a grants process commencing in the Group’s new financial year (beginning 1 August 2023). The Foundation will be administered by the Charities Aid Foundation (CAF).

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Smiths Group Announces Launch of Charitable Foundation (Graphic: Business Wire)

The mission of the Foundation is central to Smiths Group’s purpose of ‘Improving our world through smarter engineering’. The primary focus will be on expanding access to Science, Technology, Engineering and Maths (STEM) skills. The focus of the grants will be both global and local, enabling the Foundation to support causes that are close to Smiths’ locations and communities throughout the world, in a scalable, structured and impactful way.

Smiths will allot grants to charitable organisations and outcomes of the grants will focus on three areas:

Improving access to quality STEM education and skills for underrepresented groups
Improving safety and connectedness within communities
Improving the environmental sustainability of those communities

John Ostergren, Chief Sustainability Officer at Smiths Group, said: “We are proud to take this step honouring and extending Smiths Group’s longstanding commitment to our many communities around the world. Strong communities benefit us all and at Smiths we recognise the practical importance and many rewards of giving back. The Smiths Group Foundation will help increase our impact, deliver on our purpose and create lasting value for all of our stakeholders.”

Vera Kirikova, Chief People Officer at Smiths Group, added: “For us at Smiths it’s so important to make a meaningful contribution to society. There is a great deal of excitement about the Foundation internally and we look forward to connecting the enthusiasm and expertise of our people at Smiths to make a positive impact on the communities.”

The Foundation will be directed by a committee of Smiths employees who will review grant applications and determine how to allocate funds. The Foundation and committee will be supported by CAF, a globally renowned and highly respected organisation working with donors and charities across the world to accelerate progress in society towards a fair and sustainable future for all. Smiths will benefit from CAF’s guidance and knowledge of best practice to help create a compelling strategy and robust governance structure, identify those causes where Smiths can make the most impact, and work with recipients to measure the impact of grants.

Mark Greer, Managing Director for Giving and Impact, Charities Aid Foundation, said: “We are delighted to have helped bring the Smiths Group Foundation to life. The commitment of Smiths Group employees and its leadership to generate impact in the communities where they are present has been clearly demonstrated in our work with them. We hope they set an example which is followed by many other global companies who can play an essential role in addressing the most pressing issues in society."

Alongside the launch of its Foundation, Smiths Group is expanding its commitment to employee volunteering by globalising its principles (currently offered in the UK) which allows every employee one day of paid volunteering leave each year. From FY24, these principles will be made available across each of the Group’s divisions in the more than 50 countries in which Smiths operates. Smiths Groups’ renewed volunteering principles will allow the people of Smiths to complement the monetary support provided by the Foundation by contributing time, expertise and passion to support good causes and improve our world.

Visit smiths.com/foundation for more information.

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About Smiths Group

For over 170 years, Smiths Group has been pioneering progress by improving the world through smarter engineering. We serve millions of people every year, to help create a safer, more efficient and better-connected world, across four major global markets: Energy, General Industry, Security & Defence, and Aerospace. Listed on the London Stock Exchange, Smiths employs c.14,600 colleagues in over 50 countries. For more information visit www.smiths.com.

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CONTACT: Investor enquiries

Stephanie Heathers, Smiths Group

+44 (0)7584 113633

stephanie.heathers@smiths.comMedia enquiries

Tom Steiner, Smiths Group

+44 (0) 7787 415891

tom.steiner@smiths.comAlex Le May, FTI Consulting

+44 (0)7702 443312

smiths@fticonsulting.com

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: PHILANTHROPY ENGINEERING ENVIRONMENT MANUFACTURING SUSTAINABILITY FOUNDATION