Contribution aims to tackle educational inequality to create long-term, sustainable societal impact
SINGAPORE and LONDON, Dec. 14, 2021 /PRNewswire/ -- IG Group (LON:IGG), a global leader in online trading, today announced that for each year from 2022 to 2025, it will pledge the equivalent of 1% of the prior financial year's post-tax profits to charitable causes. This will take the form of a Board approved payment into IG's charitable 'Brighter Future Fund' and will also include employee time spent volunteering. These contributions aim to empower through education, with a focus on financial literacy, as well as science, technology, engineering, and mathematics (STEM) subjects.
"At IG we're passionate about playing our role in supporting people with ambition. Empowering our clients through knowledge has always been at the heart of what we do. We believe that growing their understanding of all aspects of self-directed trading allows them to trade with confidence. We also bring our desire to support people with ambition to those living in the communities in which we operate," said June Felix, Global CEO, IG Group.
She continued, "This new pledge is part of our ongoing commitment to play a part in helping improve the futures of young people around the world - to inspire them to explore the possibilities, and reach their potential in life, through learning."
The new pledge is an evolution of the Company's Brighter Future Fund, which was established in April 2020 to improve educational opportunities for the least privileged young people in our global communities, and to offer immediate assistance to those that have been hardest hit by the Covid-19 pandemic. It is embedded in IG Group's environmental, social, and governance (ESG) strategy – the Brighter Future framework – that brings together IG's ESG work around the globe and is an expression of the company's long-term commitment to sustainability and social responsibility. The 1% pledge will be allocated in line with the principles underpinning the framework.
IG has a strong track record of partnering with education charities to tackle educational inequality around the world. Key initiatives include:
- £2 million commitment to Teach For All's UK network partner Teach First, an education charity fighting to make the education system work for every child
- £2 million commitment to Teach For All and their network partners around the globe, including Teach The Nation, and Teach For Poland, both recently established to tackle educational inequality in South Africa and Poland, respectively
- A long-term partnership with Code First Girls, a charity dedicated to transforming tech by providing the skills, space, and inspiration for women to become developers and future leaders
"The global wealth gap, which had been widening steadily for years, was accelerated by the pandemic," said Jon Noble, Chief Operating Officer, IG Group. "By supporting philanthropic programs – especially in the area of financial literacy - IG is aiming to help level the playing field, specifically for traditionally under-represented groups, to enable them access to greater financial and professional opportunities."
IG Group has been at the forefront of trading innovation since 1974. Since then, we've evolved into a global fintech company incorporating the IG, tastytrade, IG Prime, Spectrum, Nadex and DailyFX brands, with a presence in Europe, North America, Africa, Asia-Pacific and the Middle East. Our award-winning products and platforms empower ambitious people the world over to unlock opportunities around the clock, giving them access to over 19,000 financial markets. Today, more than 400,000 clients call IG Group home.
IG Group Holdings plc is an established member of the FTSE 250 and holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Rating.