Philanthropy & Community Investment
Philanthropy & Community Investment has been a foundation of Bacardi since the family arrived in Santiago de Cuba more than 150 years ago. The tradition of responsibility -- providing local disaster relief assistance, building a new city library, or supporting charitable organizations – continued with the inception of the company in 1862 and has remained to this day.
Bacardi is committed to the communities in which we live and work. We encourage employees to volunteer their time in programs and activities to support local organizations and we support the many worthwhile charities in our towns working to better our communities. Despite being rated as a relatively lower priority on our materiality matrix, engaging our employees in supporting local communities remains an important part of our overall CR approach as it benefits our communities and organization.
Our signature Spirit for Life, Caring Together initiative, our annual Corporate Responsibility Month, encourages all Bacardi operations to hold events important to their communities. Employees from around the world volunteered more than 9,000 hours in more than 30 countries in FY16.
• Arts & Culture
• Health & Social Services
Part of measuring our community investment is assessing the effect our charitable donations, both cash and in-kind, have on the organizations and communities we support. In FY16, due to an upgrade in our tracking systems and administrative reorganization, we have been unable to adequately record these numbers. We have reviewed the challenges faced and hope to begin a new process of measurement this fiscal year.
In FY17, we will also review our current CR Ambassador and CR Month strategy to ensure we are implementing a process that works on a local level, is guided through global standards, and makes a measurable impact in our communities. In addition, we will be redesigning our community investment tracking database to better accurately reflect our employee volunteer time, charitable contributions and in-kind donations.