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Remarks at the Georgetown Social Enterprise Event with Bono (Moynihan)

Brian T. Moynihan, Chief Executive Officer, Bank of America
Monday, November 12, 2012 9:00 pm GMT

November 12, 2012

Washington, D.C.

Thank you President DeGioia.  And, thank you to the entire Georgetown community for the warm welcome tonight.    

Several months ago here in Washington, D.C., Bono gave a speech where he talked about the power of partnership. 

The power of partnership to end hunger in Africa. 

The power of partnership that transcends traditional lines. 

The power of partnership that brings everyone together to achieve a common goal. 

The power of partnership is why we’re here tonight. 

It is the driving force behind the Global Social Enterprise Initiative. 

It’s an initiative built on the idea that working together across business, government, and other disciplines we can collaborate to make a difference. 

It’s an initiative built on the idea that business success and global good are not mutually exclusive goals. 

It’s an initiative to train future leaders – whether you’re a banker or a musician – to think outside the borders of your day job. 

To think outside yourself and find the issues and the needs where you can make a difference. 

Bank of America is proud to support the Global Social Enterprise Initiative here at Georgetown because it aligns well with what we stand for as a company. 

We believe it’s good business and the right thing to do to make social responsibility a cornerstone of what we do as a company. 

We believe in the power of connections.  Connections that bring together resources, diverse ideas, and dedicated teams to take on challenges and drive change. 

Whether it’s through our $50 billion environmental initiative. 

Whether it’s through the more than $200 million in philanthropy we give to reduce hunger, create jobs, and strengthen education. 

Whether it’s the financial services we provide for our customers to create opportunity and encourage economic growth. 

Whether it’s through the 1.5 million volunteer hours our employees logged last year.  We support in our employees and believe as a company the importance of being a part of the solutions that will make our communities and our world better. 

The Global Social Enterprise seeks to tap into something that is innate in all of us.  As leaders we don’t just want to be successful.  We want to have impact.  No one symbolizes that better than our guest of honor – Bono. 

A worldwide rock star, he has channeled his fame and talents to take on some of the world’s biggest challenges.  End hunger.  Eliminate extreme poverty.  Wipe out AIDS. 

These are pretty audacious goals…must be the Irish in him. 

To confront these challenges, Bono co-founded ONE, an advocacy organization with more than 3 million members. 

They encourage government leaders to support debt relief and effective poverty fighting programs that are saving the lives of millions of people around the world.   

We’re proud to announce that Bank of America will support several Georgetown interns this Summer at One. 

These internships will provide an opportunity for selected students to see firsthand the power of partnership in action.  To see firsthand the incredible impact of this organization.

For example, thanks to One and the work of their partners around the world, today: 

  • More than six million Africans have access to life-saving AIDS medicine.  That’s up from just 50,000 10 years ago.
  • Malaria cases or deaths have been cut in half in eight African countries.
  • And, 51 million more children are going to school. 

 

RED, the private sector initiative Bono also founded, works in partnership with some of the most iconic consumer brands in the world. 

And, together, they have channeled nearly $200 million to fight AIDS in Africa. 

Bono’s commitment to improving lives has also led to Music Generation.   A program that is bringing music to the classrooms of Ireland and Bank of America has been proud to support.

Bono is an example of what bringing people together and the power of partnership can achieve. 

And, while we all can’t partner with him on his next studio release, we certainly can partner with him on his work to make the lives of millions better around the world. 

I know that is a responsibility all of us care deeply about and are looking forward to hearing Bono share his thoughts with us. 

Please join me in welcoming Bono…