Page 8 - Riverwater 2020 Sustainability Report

2020 SUSTAINABILITY REPORT
COVID EFFORTS OF OUR PORTFOLIO COMPANIES
COVID RELIEF HIGHLIGHTS
Good times can mask short-sighted and inferior business practices; COVID-19 laid bare for the world to see what happens in bad times. Resilience is borne from sustainable business practices that treat all stakeholders – people and planet – with respect. And it creates the greatest prosperity for all.
GAVE GENEROUSLY
Riverwater portfolio companies donated over $250 million in cash to nonprofit organizations to provide immediate assistance to affected persons
OFFERED RELIEF
100% of Financial Services, Real Estate, and Utility companies offered relief in the form of deferral of payments due for services like electricity, rent, insurance, loans.
Spotlight: Nestle’s “Always open for You” initiative extended payment terms, suspending rental fees for coffee machines and offering free products to its restaurant customers. The total value of this initiative was around $556 million.
MOBILIZED PRODUCTION
Seventeen Riverwater holdings that are manufacturing entities mobilized production capacity toward making and distributing PPE equipment and medical supplies.
Spotlight: Medtronic shared publicly its ventilator design to increase global production to meet the immediate need for COVID patients.
DEVELOPED / INNOVATED / MANUFACTURED
Fourteen companies owned by Riverwater developed, manufactured, or distributed tests, vaccines, and supplies to directly combat COVID 19.6
Spotlight: Charles River Labs partnered with over 40 clients on development programs for vaccine candidates and other COVID-19 treatments
PRESERVED WORKFORCES
80% of companies owned by Riverwater maintained their entire workforce intact with full pay, benefits, and bonuses.
6 See Appendix A for a full list of COVID relief efforts by our holdings.
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