Saturday, March 10, 2007
Product (RED) initiative engages private sector to fight against AIDS in Africa .
Product (RED) is a global initiative whose primary objective is to engage the private sector in the fight against AIDS in Africa by channelling funds from the sale of (Product)RED products directly to the Global Fund To Fight AIDS, Tuberculosis and Malaria. Companies whose products take on the (Product)RED mark contribute a portion of profits from the sale of that product to Global Fund-financed programmes in Africa. Current partners are American Express, Converse, Gap, Giorgio Armani and Motorola.
This is the first time that the world's leading companies have made a joint commitment to channel a percentage of profits to assist in the fight against the HIV/AIDS pandemic, which kills three million people every year.
The Global Fund warmly welcomes this important new initiative from the private sector. Through (Product)RED and other initiatives, the Global Fund hopes to increase the private sector share of Global Fund income from less than one percent currently to ten percent or more in the long term.