SEGRO launches GBP10 million Centenary Fund to support local communities
SEGRO, an owner, manager and developer of warehousing and industrial space, has launched a new GBP10 million fund to mark its centenary which will be used over the next decade to make a positive impact within communities across the UK and Continental Europe.
The majority of the first year’s funding of more than GBP1 million will be allocated to projects which provide emergency relief and which will help address the longer-term impacts of the Covid-19 pandemic.
The SEGRO Centenary Fund will build on and extend the company’s long-standing and well-established approach to community engagement and support, representing a 10-year commitment to help improve the lives of tens of thousands of people.
It was originally intended to be launched on 19 May to coincide with the 100th anniversary of SEGRO’s establishment, however the plans have been revised to provide urgent support to members of the community who are particularly vulnerable to the impacts of the Covid-19 pandemic. In the first year, funds will be used to help a variety of charities to provide basic necessities, such as food, medicines and household essentials, and to support other initiatives which will help alleviate the impact of the crisis.
In the longer term, the fund will focus on community projects which help young and disadvantaged people into employment and will create community spaces to support people’s training, health and wellbeing.
David Sleath, Chief Executive of SEGRO, says: “The SEGRO Centenary Fund is one way of recognising the vital role our communities have played in our success over the last 100 years and making sure we give something back by helping thousands of people now and over the next decade.
“Many of the areas where we invest are characterised by high levels of unemployment and social deprivation. We understand the long term need to ensure people from all backgrounds have the skills, training and opportunities to secure meaningful employment. These are the areas where we are focusing the SEGRO Centenary Fund and where we feel we can make a significant difference to people’s lives.
“However, in the near term, we cannot ignore the potentially devastating and long-lasting socio-economic impacts of the Covid-19 pandemic. Accordingly, we are accelerating the launch of the Centenary Fund and broadening its purpose to help address urgent needs in our communities during this time of crisis.”
In addition, all board members of SEGRO will be waiving 25 per cent of their fees and salaries for the next three months. This will be used to provide additional funding to the SEGRO Centenary Fund to further enhance the support it is able to offer to communities during the COVID-19 pandemic.
The majority of the SEGRO Centenary Fund investment will be administered via partnerships with Community Foundations in London, Berkshire, Coventry, Leicestershire, Northamptonshire and Hertfordshire, to help identify the charities which can make immediate and meaningful interventions within their communities. A substantial contribution will also be made via the LandAid Emergency Covid-19 Fund.