subscribe
back issues
reprints
contact us
Wealth in Perspective
Wealth Management
Thought Leaders
Money and Meaning
Passion Investments
Wealth Management Sourcebook
Multifamily Office 2008
Previous Issues Index
/ Home / Editorial / Wealth Management / Business & Entrepreneurship /
Science & Medicine
Prevention Pays
Kate Taylor
03/01/2004

When businesses scout the globe for the most inexpensive production facilities and information technology centers, few consider how much an AIDS epidemic could diminish the benefits of an offshore center’s initially low operating costs. For too many companies, the incentive to invest in AIDS prevention becomes clear only when the disease begins to show up in their workforces, as it has all over sub-Saharan Africa, which is home to about two-thirds of the 40 million people now infected with HIV worldwide.

There have been some notable—and laudatory—examples of large companies that have launched AIDS awareness and treatment campaigns in high-risk countries. Anglo American is now operating the first large-scale AIDS treatment program in South Africa. Standard Chartered Bank spent $300,000 last year (or approximately $10 for each of its employees world-wide) on a peer education and  prevention campaign. Nike has started to work with its major suppliers in Asia to ensure that employees have access to potentially life-lifesaving information about HIV.

Producers of Kenyan tea and Malawi cotton, as well as the auto manufacturers with assembly plants in South Africa, are well aware of the consequences of the HIV rampage. Many have to hire three people for every vacant job position and are accustomed to having 10 percent of their staff absent every day. AIDS can come close to halting productivity and cancelling out the efficiency in  of initially low operating costs. And because an AIDS-ridden population is an unemployed population, it can destroy consumer markets.

Yet when the World Economic Forum, working with the Joint United Nations Programme on HIV/AIDS (UNAIDS) and Harvard University, polled nearly 8,000 executives running operations in 103 different countries, fewer than six 6 percent indicated their companies had HIV policies. Nearly half thought HIV was not likely to have a serious impact on the communities in which their businesses operate. What is also cause for alarm is that 36 percent of those questioned did not know how many of their employees were infected with HIV.

1 | 2 | 3 | >>
Printer Friendly Version  Email a Friend


Related Articles
» World Bank Ups Aid
 
Get a FREE ISSUE and a FREE GIFT

Simply fill out this form to receive a complimentary issue of Worth and a FREE gift ("The top 25 Questions for Your Private Banker"). If you like the magazine, you’ll pay just $36 for 5 more issues (6 in all). If it’s not for you, you can return your invoice marked "cancel", and owe nothing. The FREE issue and FREE gift are yours to keep.
Name
Address
Canadian orders click here
International orders click here

Unsubscribe from subscription emails click here
 



Family Office Wealth Conference