Sichuan Recovery Fund

On 12 May 2008, a magnitude 8.0 earthquake with its epicentre in Wenchuang County shook Sichuan province, China, affecting hundreds of thousands of lives.

As a responsible long-term business partner in China and with a mandate to embrace the environment and empower the people, Banyan Tree stepped up to establish the Sichuan Recovery Fund.

This Fund was founded to provide recovery support to the survivors in Sichuan, committing our resources and skills to the needs of the people by seeking to provide relief where it is most needed, with a focus on housing, education and orphanages.

Banyan Tree’s China based associates initiated the fund raising via contributions which were donated for immediate rescue and relief. These funds were matched by Banyan Tree’s CSR fund to provide a otal of US$23,000, shared between the Red Cross China and Mian Yang representatives, to fund immediate relief efforts.

Further funding to support long-term recovery of affected communities was provided by an opt-in donation available to all associates globally. This optional donation was structured to be made via the June and July 2008 pay checks and the amount donated was matched by the respective business unit, dollar for dollar.

The final aspect of funding for the Sichuan Recovery Fund was provided by guests who stayed at Banyan Tree and Angsana properties. From 1 June to 31 December 2008, all contributions to the Green Imperative Fund were diverted to the Sichuan Recovery Fund. As always, all guest contributions were matched by the hotel, dollar for dollar. At the end of the collection period, a total of US$543,000 was raised. This sum was lower than initial expectations largely due to the challenges of the growing global financial slump which gained steam throughout the second half of 2008.

 “I know the beauty of the place, I know some of the government officials, so it’s particularly painful to see that place reduced to rubble.”

 - Mr Ho KwonPing, Executive Chairman of Banyan Tree Holdings Limited, who was stuck at Chengdu Shuangliu International Airport (about 60 miles from the epicentre) in an airplane taxiing for takeoff when the quake struck.