The Clinton Global Initiative today recognized Yum! Brands (NYSE:YUM – News) for its worldwide commitment to raise and donate $80 million over the next five years to help the World Food Programme (WFP) and others provide 200 million meals for hungry school children in developing countries. In addition, Yum! pledged over the next five years to donate 20 million hours of hunger relief volunteer service in the communities in which it operates; $200 million worth of its prepared food to hunger agencies in the United States and use the company’s marketing clout to generate awareness of the hunger problem, and convince others to become part of the solution.
President Bill Clinton announced Yum’s commitment during a special Plenary Session that made school feeding a top priority in the fight to end global hunger. The commitment will mean that 1 million children could come to school every day for an entire year and receive a nourishing meal.
The funds will be raised through Yum! Brands World Hunger Relief campaign, the world’s largest private sector hunger relief effort to help end world hunger. World Hunger Relief supports the United Nations WFP and other hunger relief agencies.
“Hunger is unacceptable. As a society, we should not and can not tolerate the fact that nearly 925 million people are starving and go to bed hungry every day. As the world’s largest restaurant company, we believe it is our privilege and responsibility to find a meaningful solution to this critical problem,” says David C. Novak, Chairman and CEO of Yum! Brands.
Global hunger has reached epic proportions–reaching nearly 1 billion people–due to the convergence of higher commodity and global food prices; increased competition for products that produce energy; severe droughts and floods due to climate change and increasing demand from growing economies in Asia and South America.
“We hope to move millions of people from hunger to hope through our efforts,” said Novak.
The company’s employees and franchisees will be volunteering their time around the globe at hunger relief agencies, food banks, soup kitchens and launching fundraisers. The Yum! Foundation also will be donating to the cause by covering the WFP’s administrative fee so that funds collected from customers and employees will go directly toward feeding people. Funds raised for WFP go directly to the areas of greatest need, feeding poor school children in the developing world and helping villages become self-sustainable. Every U.S. dollar raised during World Hunger Relief 2008 will provide 4 meals for hungry children all over the world.
During this year’s World Hunger Relief campaign, Yum! plans to generate the equivalent of nearly $50 million in awareness of the hunger issue through television and print advertising, public service announcements, public relations, web-based communications and in-restaurant posters and signage. In addition, the company is leveraging the power of the internet to reach millions of people through the www.fromhungertohope.com Web site and other on-line activity.
