As charities struggle, well-off City firms have a responsibility to give back
City firms have a responsibility to use their resources to help struggling charities, writes Jemma Read, global head of corporate philanthropy at Bloomberg, in today’s Notebook
Corporate philanthropy should be a given
It is more important than ever for businesses to channel their energy, resources and expertise toward meaningful community impact. Across London, traditional funding models are struggling to keep pace with rising costs and growing demand – leaving a widening gap that charities alone cannot fill. This is especially true in the summer months, when children lose access to free school meals. According to The Felix Project, two-thirds of London teachers expect pupils in their classrooms to go hungry this summer.
At Bloomberg, we believe businesses have a responsibility – and unique opportunity – to help address these challenges. By leveraging the time and talents of our employees, and resources of our business, we are committed to giving back to the cities in which we live and work.
Last week, that came to life when more than 1,000 Bloomberg employees took over Old Billingsgate Market to pack nearly 500,000 meals for The Felix Project, London’s largest food redistribution charity. Our engineers, journalists and analysts brought the same focus and precision they use in their day jobs to help get meals to families who need them. This was part of our global Million Meals Challenge – an effort to mobilise Bloomberg’s 27,000+ employees worldwide in the fight against food insecurity.
Philanthropy done well mirrors what drives successful companies: identifying unmet needs, using data to drive action and partnering with experts. It’s not just about funding – it’s about applying strategic thinking, operational skills and networks to scale impact. In a city where strong communities underpin economic success, corporate engagement is more than charity – it’s good business. And right now, the communities in which we live and work need our collective skills more than ever.
Bloomberg’s summer initiative
Thanks to our founder Mike Bloomberg, giving back is a core value at Bloomberg. Being part of the team of hundreds of Bloomberg employees who filled Old Billingsgate Market to pack meal kits for those in need in partnership with The Felix Project reinforced to all of us the importance of coming together to support our local communities. It was an opportunity to make a difference, strengthen relationships with colleagues, and contribute to the social fabric of London. The energy, teamwork and commitment of all the volunteers was inspiring.
Culture in the Square Mile
It’s now summer in the city, and I’ve loved exploring London’s museums and galleries to take in the latest exhibitions. In the UK, we are lucky to boast genuinely world-leading arts and creative industries that connect people and ideas and drive innovation.
The creative industries are an economic engine, helping to create export opportunities and attract inward investment whilst driving our tourism industry.
The power of arts and culture to create vibrant cities and communities was something Mike Bloomberg saw during his time as Mayor of New York City, which is why investment in arts, culture and innovation has been a central pillar of our corporate philanthropy.
Earlier this year, we were able to gift the Bloomberg Collection – a collection of 20,000+ Roman artefacts discovered on the site of our European headquarters during construction – to the London Museum, to ensure public accessibility for generations to come.
You can check out some of the artefacts, as well the original temple of Mithras which sits beneath our office at London Mithraeum Bloomberg SPACE.
What to do this summer
There is nowhere better to take in arts and culture in London than in the public realm. Make sure to visit Serpentine for the 2025 Pavilion by architect Marina Tabassum, and sculptures by artist Giuseppe Penone.