Manulife Announces Commitment to World Central Kitchen to Help Provide Disaster Response and Recovery

Rhea-AI Summary

Manulife (NYSE: MFC) has pledged $1 million to support World Central Kitchen (WCK) in global disaster response and food security initiatives. This commitment is part of Manulife's Impact Agenda, which focuses on health, economic opportunity, and sustainability. WCK has been active in areas affected by recent hurricanes, providing meals to impacted communities. Tom Crohan emphasized the importance of this investment for both immediate recovery and long-term community resilience.

Positive

• Investment of $1 million to support disaster response through World Central Kitchen.
• Aligns with Manulife's Impact Agenda focusing on health, economic opportunity, and sustainability.
• Supports local economies and food systems during crisis situations.

Negative

• None.

 Over $1M committed to provide meals in response to crisis and build resilient food systems  

C$ unless otherwise stated                TSX/NYSE/PSE: MFC     SEHK: 945

TORONTO, Oct. 5, 2022 /PRNewswire/ -- Today, Manulife (NYSE: MFC) announced a multi-year commitment to World Central Kitchen (WCK) to support global disaster response, emergency preparedness, and resiliency, aligned to its recently launched Impact Agenda. The company has committed $1 million, and will provide additional support through Manulife's ongoing company match program following disasters. 

In recent days, WCK has served hundreds of thousands of meals to regions affected by Hurricane Fiona, including Nova Scotia, and they have set up a Relief Kitchen in Florida, preparing thousands of meals for those in need in Florida impacted by Hurricane Ian. 

WCK is a global nonprofit organization that is first to the frontlines providing fresh meals in response to crises, while working to build resilient food systems with locally led solutions. When disaster strikes, WCK's Relief Team mobilizes with urgency to cook and serve meals to people in need, while supporting local economies by leveraging resources in the community.

"We are currently witnessing the devastating impacts that hurricanes and typhoons are having in areas where our people, clients and customers reside," said Tom Crohan, Global Head of Community Investment at Manulife. "WCK's unique model for disaster response not only helps communities around the world immediately recover from disasters by serving freshly made, nourishing meals, but it also helps establish resilient food systems with community centered solutions that are critical to sustained health and well-being. On behalf of my colleagues, we are proud to make this strategic investment and look forward to partnering in the months and years ahead."

Earlier this year, Manulife announced its global Impact Agenda, which articulates the company's commitment to building a better business to better the world. The Impact Agenda has three interconnected areas of focus, each with goals, commitments, and actions: empowering sustained health & wellbeing; driving inclusive economic opportunity; and accelerating a sustainable future. WCK's mission aligns across all three areas as they work to advance human and environmental health while jumpstarting economic recovery by sourcing and hiring local food providers. 

"Generous support from partners like Manulife are critical to our operation," said Jason Collis, WCK's VP of Relief. "This commitment is so much more than a simple donation. It helps ensure we have the capacity for our teams to continue to serve nourishing meals to people in need with the urgency of now. We're grateful to count on Manulife, and for their eager belief in our mission, including their willingness to rally their own community and create a movement of support for WCK and the people who need it most."

About Manulife

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2021, we had more than 38,000 employees, over 119,000 agents, and thousands of distribution partners, serving over 33 million customers. Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 160 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. In the previous 12 months we made CAD$32.7 billion in payments to our customers.

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SOURCE Manulife Financial Corporation

FAQ

What is Manulife's commitment to World Central Kitchen?

Manulife has committed $1 million to World Central Kitchen for global disaster response and food security.

How does Manulife's Impact Agenda relate to the commitment to WCK?

The commitment aligns with Manulife's Impact Agenda, which focuses on health, economic opportunity, and sustainability.

What recent disasters has World Central Kitchen responded to?

WCK has provided meals to communities affected by Hurricane Fiona in Nova Scotia and Hurricane Ian in Florida.

What are the goals of Manulife's Impact Agenda?

The Impact Agenda aims to empower health and well-being, drive economic opportunity, and accelerate sustainability.