Issue 26: 2014

The (Bank of America)RED Partnership

Bank of America joins (RED)™ and U2 in the global fight against AIDS.

From left: Deborah Dugan, Chief Executive Officer, (RED); Brian T. Moynihan, Chief Executive Officer, Bank of America; U2's Bono; Anne Finucane, Global Strategy and Marketing Officer, Bank of America. Photograph by: Bank of America, (RED)

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This past February, during the Super Bowl, a television commercial aired featuring U2 performing a new song, “Invisible.” The song was made available as a limited-edition release for free download during the game and for the following 24 hours. For every download during that time, Bank of America donated $1 to support (RED)’s fight against AIDS. All (RED) monies go to the organization, the Global Fund to Fight AIDS, Tuberculosis and Malaria. The Global Fund grants supported by (RED) help provide life-saving HIV/AIDS programs which deliver treatment, testing, counseling, and prevention services to tens of millions of people in sub-Saharan Africa.

The event raised more than $3 million — which can provide more than 7.8 million days of life-saving HIV medicine — and also marked the launch of a new partnership between the global HIV/AIDS fundraising and awareness non-profit organization (RED) and Bank of America. Through this partnership, Bank of America is committing $10 million over the next two years to the fight against AIDS and is inviting customers and employees to get involved.

An End within Reach

In the roughly 33 years since HIV/AIDS was identified, the disease has killed 36 million people globally, according to estimates by the World Health Organization.


Concillia is HIV-positive and works as a peer education counselor in Zambia,
encouraging others to seek HIV testing, treatment and counseling.
(Bank of America/(RED) video)

 

A decade ago, while life-preserving medication was readily accessible in the developed world, it was unavailable to the vast majority of people in the world’s poorest countries. In the mid-1990s, the cost of medication was around $10,000 per person per year, making systematic delivery to poorer populations impossible.

The cost of medication has since been reduced dramatically — to as little as $0.40 a day — and thanks to support from programs such as the Global Fund and the U.S. President’s Emergency Plan for AIDS Relief, nearly 10 million people in the world are now receiving life-saving antiretroviral therapy, up from just 300,000 in 2002.


Thanks to the type of programs (RED) funds, Connie had access to medication
to help prevent the transmission of HIV to her daughter, Lubona.
(Mark Jackson/(RED))

 

That’s progress, but there’s more to do. More than 35 million people in the world have HIV, and more than 700 babies are born with HIV — a treatable and preventable disease — every day. The progress made to date shows that with action and urgency, we can turn the tide on this pandemic and start to see the beginning of the end of AIDS. Only with sustained support from the public and private sectors will we achieve this milestone, which just a decade ago would have seemed impossible.

One key part of this effort is the virtual elimination of HIV from moms to their babies. Delivering an AIDS-free generation could be within reach. If an HIV-positive pregnant mother has access to antiretroviral medicine that costs as little as 40 cents a day, it reduces the risk that she will pass the virus on to her baby to as low as 5% or less — meaning an end to the cycle of infection for that family.

The (Bank of America)Red Partnership

“As a global company, we’re bringing our capabilities and the power of our platform to help partners more effectively address a wide range of social challenges,” says Anne Finucane, global strategy and marketing officer at Bank of America. “Our partnership with (RED) and U2 comes at a critical time, as the global health community is closer than ever to creating an AIDS-free generation.”


Doris is HIV-positive and her children, Samuel and Michael, were born
HIV-free — a true testament to the possibility of an AIDS FREE GENERATION.
(Jonx Pillemer/(RED))

 

(RED) was founded in 2006 by Bono, the lead singer of U2, and Bobby Shriver to engage businesses and individuals in the fight against AIDS. (RED) partners with the world’s most iconic brands, which contribute profits from (RED) branded goods, services and events to the Global Fund. (RED) funds are fighting AIDS in eight African countries — Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania and Zambia — and are used to support grants that provide prevention and care services, treatment and testing, all with a focus on ending mother-to-child transmission of HIV. (RED) and its partners are united in a global push to end this maternal transmission of the virus by 2015.

Since 2006, (RED) has raised $250 million for the Global Fund, and all of that money has gone directly to the Global Fund for on-the-ground services, with no overhead taken. It was the commitment from Bank of America that saw (RED) cross the quarter billion dollars milestone.

Since 2006, (RED) has generated more than $250 million for the Global Fund

“Beyond our own $10 million commitment, we hope to maximize the impact of individual donations by raising awareness and encouraging others to become part of the solution,” says Finucane. “The partnership will leverage the collective power of our customers, clients and employees. We’ll take advantage of the many ways we engage them, from our banking center and ATM networks to our digital platforms with millions of active users. And we’ll harness the power of our own people, more than 240,000 strong. Through all of these connections, we’ll bring (RED) closer to its goal.”

“Bank of America coming on as a (RED) partner to help the Global Fund’s efforts to eliminate AIDS is great news,” Bono agrees. “It’s the kind of game-changing influence that will not just deliver millions of dollars but raise consciousness and keep public pressure on putting an end to this devastating pandemic which has already taken the lives of 36 million people.”

For more information, visit bankofamerica.com/red.

 

IMPORTANT INFORMATION

Some of the featured participants are not employees of U.S. Trust. The opinions and conclusions expressed are not necessarily those of U.S. Trust or its personnel.

 

This past February, during the Super Bowl, a television commercial aired featuring U2 performing a new song, “Invisible.” The song was made available as a limited-edition release for free download during the game and for the following 24 hours. For every download during that time, Bank of America donated $1 to support (RED)’s fight against AIDS. All (RED) monies go to the organization, the Global Fund to Fight AIDS, Tuberculosis and Malaria. The Global Fund grants supported by (RED) help provide life-saving HIV/AIDS programs which deliver treatment, testing, counseling, and prevention services to tens of millions of people in sub-Saharan Africa.

The event raised more than $3 million — which can provide more than 7.8 million days of life-saving HIV medicine — and also marked the launch of a new partnership between the global HIV/AIDS fundraising and awareness non-profit organization (RED) and Bank of America. Through this partnership, Bank of America is committing $10 million over the next two years to the fight against AIDS and is inviting customers and employees to get involved.

An End within Reach

In the roughly 33 years since HIV/AIDS was identified, the disease has killed 36 million people globally, according to estimates by the World Health Organization.


Concillia is HIV-positive and works as a peer education counselor in Zambia,
encouraging others to seek HIV testing, treatment and counseling.
((RED) video)

 

A decade ago, while life-preserving medication was readily accessible in the developed world, it was unavailable to the vast majority of people in the world’s poorest countries. In the mid-1990s, the cost of medication was around $10,000 per person per year, making systematic delivery to poorer populations impossible.

The cost of medication has since been reduced dramatically — to as little as $0.40 a day — and thanks to support from programs such as the Global Fund and the U.S. President’s Emergency Plan for AIDS Relief, nearly 10 million people in the the world are now receiving life-saving antiretroviral therapy, up from just 300,000 in 2002.


Thanks to the type of programs (RED) funds, Connie had access to medication
to help prevent the transmission of HIV to her daughter, Lubona.
(Mark Jackson/(RED))

 

That’s progress, but there’s more to do. More than 35 million people in the world have HIV, and more than 700 babies are born with HIV — a treatable and preventable disease — every day. The progress made to date shows that with action and urgency, we can turn the tide on this pandemic and start to see the beginning of the end of AIDS. Only with sustained support from the public and private sectors will we achieve this milestone, which just a decade ago would have seemed impossible.

One key part of this effort is the virtual elimination of HIV from moms to their babies. Delivering an AIDSfree generation could be within reach. If an HIVpositive pregnant mother has access to antiretroviral medicine that costs as little as 40 cents a day, it reduces the risk that she will pass the virus on to her baby to as low as 5% or less — meaning an end to the cycle of infection for that family.

The (Bank of America)Red Partnership

“As a global company, we’re bringing our capabilities and the power of our platform to help partners more effectively address a wide range of social challenges,” says Anne Finucane, global strategy and marketing officer at Bank of America. “Our partnership with (RED) and U2 comes at a critical time, as the global health community is closer than ever to creating an AIDSfree generation.”


Doris is HIV-positive and her children, Samuel and Michael, were
born HIV free — a true testament to the possibility of an AIDS FREE GENERATION.
(Jonx Pillemer/(RED))

 

(RED) was founded in 2006 by Bono, the lead singer of U2, and Bobby Shriver to engage businesses and individuals in the fight against AIDS. (RED) partners with the world’s most iconic brands, which contribute profits from (RED) branded goods, services and events to the Global Fund. (RED) funds are fighting AIDS in eight African countries — Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania and Zambia — and are used to support grants that provide prevention and care services, treatment and testing, all with a focus on ending mother-to-child transmission of HIV. (RED) and its partners are united in a global push to end this maternal transmission of the virus by 2015.

Since 2006, (RED) has raised $250 million for the Global Fund, and all of that money has gone directly to the Global Fund for on-theground services, with no overhead taken. It was the commitment from Bank of America that saw (RED) cross the quarter billion dollars milestone.

Since 2006, (RED) has generated more than $250 million for the Global Fund

“Beyond our own $10 million commitment, we hope to maximize the impact of individual donations by raising awareness and encouraging others to become part of the solution,” says Finucane. “The partnership will leverage the collective power of our customers, clients and employees. We’ll take advantage of the many ways we engage them, from our banking center and ATM networks to our digital platforms with millions of active users. And we’ll harness the power of our own people, more than 240,000 strong. Through all of these connections, we’ll bring (RED) closer to its goal.”

“Bank of America coming on as a (RED) partner to help the Global Fund’s efforts to eliminate AIDS is great news,” Bono agrees. “It’s the kind of gamechanging influence that will not just deliver millions of dollars but raise consciousness and keep public pressure on putting an end to this devastating pandemic which has already taken the lives of 36 million people.”


From left: Deborah Dugan, Chief Executive Officer,(RED); Brian T. Moynihan,
Chief Executive Officer, Bank of America;
U2's Bono; Anne Finucane, Global Strategy and Marketing Officer, Bank of America.
(Bank of America, (RED))

 

For more information, visit bankofamerica.com/red.