JOHANNESBURG - In a collaborative effort to promote sustainable sanitation and support underserved communities, Dow (NYSE:DOW), Diversey, and the Pebbles Project announced the launch of the Soap For Hope™ program in Cape Town, South Africa, today. The initiative, which recycles discarded soap bars from local hotels, aims to provide hygiene resources to communities in need and offer training and employment opportunities.
Soap For Hope™, originally started by Diversey in 2013, has since grown to operate in over 50 countries, focusing on reducing waste and improving sanitation. The program's expansion to Cape Town is part of Dow's Business Impact Fund, which annually partners with NGOs, nonprofits, and customers to tackle global challenges using Dow's technology and expertise.
The program's objectives include diverting 10,000 kg of soap waste annually from landfills, distributing recycled soap bars, and providing sanitation education. Additionally, it seeks to empower young adults and women by training them to manage the recycling operations as a small business, fostering entrepreneurship and economic development.
Kevin Pillay, Dow's country leader for Southern Africa, expressed pride in the company's role in supporting sustainable cleaning solutions and community development. Mariette Van Vuuren, Diversey's sales director for South Africa, highlighted the environmental benefits and shared value created by the initiative. Sophie Warner, founder & CEO of the Pebbles Project, emphasized the importance of providing access to proper hygiene tools and empowering local individuals through business training.
Premier Hotels & Resorts has also joined the initiative, with Group Operations Manager Richard Bray expressing the company's commitment to recycling and community-building efforts.
The Soap For Hope™ program represents a multi-stakeholder approach to addressing environmental and social issues, leveraging corporate expertise and resources to make a tangible impact on local communities.
This article is based on a press release statement.
InvestingPro Insights
Dow (NYSE:DOW) is not only making strides in corporate social responsibility with its Soap For Hope™ initiative but also presents an interesting profile for investors according to the latest data and insights from InvestingPro. With a market capitalization of $40.27 billion and a revenue stream in the last twelve months as of Q4 2023 totaling $44.62 billion, Dow is a significant force in the chemicals industry. Despite a revenue decline of 21.58% in the same period, the company maintains a gross profit margin of 11.33%, demonstrating its ability to retain profitability amidst challenging market conditions.
Two InvestingPro Tips that stand out for Dow include a high shareholder yield and the expectation of net income growth this year. These factors suggest that Dow is focusing on delivering value to its shareholders and is optimistic about its financial performance in the near future. Investors might also be interested to know that Dow has been aggressively buying back shares, which could indicate management's confidence in the company's value.
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Investors should also note that Dow is trading near its 52-week high with a price percentage of 97.7% of that high, and it offers a substantial dividend yield of 4.88%. This combination of share price strength and dividend return could appeal to both growth and income investors. With the next earnings date set for April 25, 2024, stakeholders will be keen to see if the company's strategic initiatives, such as the Soap For Hope™ program, will contribute to its financial growth and sustainability commitments.
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