Business Ethics

Wednesday, October 12, 2005

Google and Global Poverty

Link:

Google gave the first details yesterday of how it would carry out its commitment to devote a share of its lucrative public stock offering to charity and social causes. It said it had donated $90 million to a new charitable foundation it started and would give another $175 million to nonprofit groups and what it considers socially useful businesses over the next two to three years.

Sheryl Sandberg, a Google vice president for sales who is also coordinating the foundation and related programs, said the company would focus its charitable efforts in two areas: global poverty, and energy and the environment. She said the two priorities were selected by Google's founders, Larry Page and Sergey Brin. . . .

In Google's annual report, filed in April, Mr. Brin and Mr. Page said they had decided to put the money into a broader range of initiatives including investments in "socially progressive corporations" and "influencing public policy."

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