Dow created a corporate foundation in 1979. The Dow Company Foundation is governed by a set of bylaws and a Board of Directors. In 2019, the foundation’s Board of Directors approved Dow’s current Global Citizenship strategy, which guides strategic grant-making across Dow geographies.
In addition to foundation giving, Dow also provides charitable contributions directly through the company. Company contributions are governed by a Corporate Contributions Committee. In 2020, a total of $33.6 million was given by the foundation and company, aligned to Dow’s Global Citizenship strategic priorities. The Global Citizenship team, within Dow’s Global Public Affairs organization, is accountable for leading and managing the investments in compliance with country and local regulations.
Local and inclusive committees exist within each Dow region, to review, approve or decline grants. All requests for grants meeting the minimum threshold of $300,000 and above go to the foundation Board of Directors or Corporate Contributions Committee for review, approval or declination. Additionally, the Environment, Health, Safety & Technology Committee of Dow’s Board of Directors provides oversight for corporate social responsibility and philanthropy, corporate reputation, and science and technology, as described in its charter.
Dow engages in two key practices to manage risks associated with financial donations. The first is partnering with Charities Aid Foundation of America (CAF America), an external third party, to review, vet and distribute Dow funding to eligible organizations outside of North America. This review helps ensure the recipients are valid and credible organizations, thus abating the risk of Dow giving to a questionable organization. The second practice is participation in a detailed and comprehensive audit process conducted by Dow’s Corporate Auditing Department, which ensures all donation-related laws and regulations are followed.
In 2020, Dow enacted Dow ACTs and committed more than $10 million to address racial injustice. Global Citizenship, through advisement and application of its governance practices, contributes to managing and measuring impact of the investments and related risk associated with company donations.