Friday, August 11, 2006
Food banking makes economic sense: Lehman Brothers supports the community through 2HJ
Imagine a business opportunity that promises a thirteen-fold return on your investment. As one of the world’s leading investment banks, Lehman Brothers assesses market opportunities every day, but Charles McJilton’s value proposition to feed underserved communities in Tokyo struck us as uniquely compelling. I remember when I first met Charles at his Asakusa headquarters. There I learned first-hand about his passionate drive to distribute even a small percentage of the 6,000 metric tons of food discarded in Tokyo each day to feed some of the city’s nearly half a million people who lack food security. Leveraging on the fact that it costs an average of 100 yen to dispose of a kilogram of food, Charles found that he could save money for companies and at the same time turn a “profit” for society by delivering food valued at up to 13 times his operating costs. For an investment banker like me, that made terrific economic sense.
Second Harvest Japan also met an important aim of Lehman Brothers, which is to support the communities where we work. Lehman Brothers’ philanthropic contributions take many forms: financial support, employee volunteerism, and in-kind donations of knowledge, resources, and contacts. We believe that philanthropy strengthens our relationships with all of our constituents, including people in our communities, our clients and shareholders, while enriching the experience of our employees. In Asia, where the non-profit sector is often nascent and fragmented, we work with many entrepreneurial groups who may have limited resources initially, but who exhibit enormous potential to address Asia’s massive humanitarian needs.
Second Harvest Japan, which has already been successfully helping orphanages, single-parent families and the homeless for many years, proved to be the perfect partner to achieve our philanthropy goals. Our partnership with them is extensive. Many Lehman Brothers employees participate as volunteers with 2HJ, preparing and distributing food to people in need. We offer professional advice and advisory support to help 2HJ grow. Moreover, the Firm solidified its relationship with Second Harvest Japan this year with a grant from The Lehman Brothers Foundation of $91,000 over two years to help the organization reach an even larger population of people.
We look forward to deepening our relationship with Second Harvest Japan. Many of my colleagues and I have truly been inspired by Charles’ mission, and we hope that together we can share his vision with countless others.
Writer: Jim Quismorio
Photo: Lehman Brothers
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