SAS and Coca-Cola start up environmental foundation

SAS AND COCA-COLA START UP ENVIRONMENTAL FOUNDATION SAS and Coca-Cola have agreed to create a new environmental fund to be called The SAS and Coca-Cola Environmental Foundation. The foundation will receive an annual contribution of approximately SEK half a million and the aim is to support projects improving the environment in the Nordic and Baltic countries. A board has been appointed consisting of two representatives each from SAS and Coca-Cola. Once a year the board will award a grant equal to at least 50 percent of the fund's assets. This year's grant will be approximately 250,000 Swedish kronor which will be distributed among one or more environmental projects. The opportunity to apply for the grants will be announced this autumn through advertising in the Nordic and Baltic daily newspapers. The board intends to award the first grants at the end of 1998 and may enlist the services of an external environmental consultant if necessary during the final evaluation process. The idea of SAS and Coca-Cola together contributing to research and education within the enviromental area was first conceived last year. SAS has had a long-standing commercial agreement with Coca-Cola to supply drinks onboard, in its lounges worldwide as well its employee soft-drink machines. When the two companies recently renewed their contract, they also agreed to contribute their share to a better environment by creating the SAS and Coca-Cola Environmental Foundation. "In this way we can take some responsibility in stimulating new generations to research and education within the environmental field. At the same time I am pleased if this initiative strengthens our image as a responsible corporation. This demonstrates a genuine commitment between the two companies who arrived at this solution, and it will be very satisfying to take part in the various projects as they come in," says Foundation board member Anders Westerholm, SAS Products & Services. "Both Coca-Cola and SAS attach great importance in conducting our businesses in a way that protects and preserves the environment. The foundation grows out of an existing successful business partnership. We are confident that the foundation will be equally successful in creating greater environmental awareness and protection in our communities," says Foundation board member Björn H. Eriksen, External Affairs, Coca-Cola Nordic and Northern Eurasia. For further information: SAS: Anders Westerholm, Director Inflight Logistics. Telephone: +46 - 8- 797 15 92 Coca-Cola: Björn H. Eriksen, Director External Affairs, tel. +47-67-58 7807 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/30/20030730BIT00080/wkr0001.DOC http://www.waymaker.net/bitonline/2003/07/30/20030730BIT00080/wkr0002.pdf