June 11, 2018
HSBC and JA Celebrate Ten Years of Partnership
From June 4 through June 11, the JA's worldwide network celebrated the ten-year anniversary of HSBC’s sponsorship of JA More than Money. JA locations from the U.S. and Canada to Ireland, Spain, Greece, and the Middle East and North Africa posted on social media about our successes. A number of JA locations also shared photos of HSBC volunteers working with JA students. And JA Worldwide and HSBC partnered to create a thought-leadership article around building youth financial capability, co-authored by Daniel Klier (Group Head of Strategy and Global Head of Sustainable Finance, HSBC Holdings plc) and Asheesh Advani (CEO of JA Worldwide). Here's an excerpt from the article:
In today’s volatile world, the need for secure long-term prosperity for all is greater than ever.
But even in mature markets, a significant percentage of the population still lack the skills needed to manage their money effectively. Far too many people still don’t receive financial education, much less develop basic financial literacy skills. According to Gallup, two out of three adults worldwide are financially illiterate.
While access to diverse, financial products and services is often viewed positively, lack of financial awareness and literacy around these opportunities can easily lead to high debt, mortgage defaults, or insolvency.
This creates a cycle of poor financial choices, limited ability to plan for the future, and vulnerability to unexpected life events. An estimated one third of wealth inequality is attributed to a lack of financial information and awareness.
What can be done about it?
Through our decade of global partnership, more than 9,000 HSBC volunteers have enabled over 500,000 JA students in 51 countries to learn future skills and practice entrepreneurship. Over the last ten years, HSBC has invested more than $16 million in training and educating global youth, a significant investment to empower the next generation of innovators, entrepreneurs, makers, and managers. Below, you'll find both a sampling of photos shared throughout the week, as well an infographic about the JA-HSBC partnership.
Thank you for helping our two global organizations celebrate this significant milestone!