|September 25, 2009|
Clinton Global Initiative Secures $9.4 Billion in New Commitments
|New York - Former U.S. President Bill Clinton was joined today by Secretary of State Hillary Clinton to close the Fifth Annual Meeting of the Clinton Global Initiative (CGI). |
In his remarks, President Clinton announced that by the end of the meeting, which has been underway since Tuesday, CGI members in 2009 made 284 new commitments valued at more than $9.4 billion dollars. In total, these commitments are projected to improve more than 200 million lives. Since 2005, members of the Clinton Global Initiative have made nearly 1,700 commitments valued at $57 billion dollars.
"At Wal-Mart, what we appreciate most about CGI is that each participant makes a real commitment to improve the world and then delivers on that commitment. This approach ensures that all of us who step forward are in fact making a difference and living up to President Clinton’s vision. We look forward in the years ahead to continue working with President Clinton and CGI as we broaden and accelerate our commitment to being a more sustainable company." Mike Duke, President and CEO, Wal-Mart
While many commitments are made in advance of the Annual Meeting, some are inspired onsite. For example:
Member Mouhsine Serrrar from Prakti Design Labs came in to the Annual Meeting to find partners for his commitment to distribute fuel efficient cookstoves in India. This week, he has not only developed a new commitment around developing fuel efficient cookstoves in Haiti, a country that desperately needs new options for stopping deforestation, but he has also found a wide range of implementing and funding partners - including E+Co, AIDG, the Sierra Club, among others - to make it possible.
Another member, inspired by remarks by Dr. Wangari Mathaai, has anonymously committed to help Mathaai’s organization and to fund cataract surgeries for more than 300 individuals.
While attending the action network on human trafficking and slavery, Jim Greenbaum realized that he could use his contacts and resources to make a difference. He committed to put the issue of ending child and slave labor on the map of the Young Presidents Organization, and to work to get all YPO member companies to ensure that they and their supply chains are not utilizing child or slave labor.
A complete list of commitments made is available below.
Prior to the closing session, a morning plenary session focused on how financial resources could be deployed for the global good. The session, "Moving from Crisis to Opportunity - Financing an Equitable Future," featured Fazle Abed, founder and chairman of BRAC, Sheila Bair, chairman of the Federal Deposit Insurance Corporation, James Dimon, chairman and CEO of JP Morgan Chase & Co., and Peter Sands, CEO of Standard Chartered PLC.
It was moderated by CNBC anchor Maria Bartiromo. Participants discussed how to avoid another financial crisis, and how to extend financial products such as microfinance and insurance to the world’s poor. ?
During the session, several new commitments were announced. Among them:
About the Clinton Global Initiative