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|June 16, 2009
|The Doe Fund and HSBC Celebrate Environmental Milestone
HSBC Renews Sponsorship of RWA Resource Recovery with $600,000 Grant
George T. McDonald, Founder and President of The Doe Fund, Inc., and Paul J. Lawrence, President and Chief Executive Officer of HSBC Bank USA, N.A., today announced a continuation of their environmental and entrepreneurial relationship as HSBC renewed its corporate sponsorship of The Doe Fund?s RWA Resource Recovery program at an event at Danny Meyer?s Tabla Restaurant.
?Through RWA Resource Recovery program, The Doe Fund not only is making New York City cleaner and greener, but is providing jobs and training to formerly homeless individuals,? said McDonald. ?The men of Ready, Willing & Able have proven that waste cooking oil isn?t garbage, but is, in fact, an urban resource. With HSBC at our side we are rapidly expanding our effort across New York City.?
HSBC?s grant of $600,000 will allow The Doe Fund to continue development of the RWA Resource Recovery program, which is New York?s only ecologically, and socially conscious on-demand, free, pick-up service for waste cooking oil that is converted into premium grade biodiesel fuel. The fuel can be used by any diesel engine without modification while burning 78% cleaner than traditional diesel fuel. The enterprise is staffed by participants and graduates from The Doe Fund's Ready, Willing & Able program, which provides formerly homeless men with paid transitional work opportunities and offers comprehensive educational, drug treatment, vocational and social services counseling.
?HSBC is proud to renew and reaffirm our support of The Doe Fund?s RWA Resource Recovery program,? said Paul Lawrence of HSBC. ?We recognize our obligation to be good stewards of our environment, and through the efforts of this innovative relationship, we continue our commitment to build a stronger, cleaner and healthier community.?
RWA Resource Recovery has built an impressive roster of 1000 participating restaurants and eateries in New York City, including Union Square Hospitality Group?s beloved Shake Shack, and most recently its neighbor and sister restaurant Tabla. ?As with all of our businesses, at Tabla we seek to extend our hospitality beyond the four walls of our restaurant and into the community. Partnering with The Doe Fund is a fantastic way to support our local and global environment,? said Danny Meyer, CEO of Union Square Hospitality Group.
Tabla Executive Chef Floyd Cardoz added, ?My guiding philosophy when it comes to cooking is to highlight regional ingredients, which is better for your palate and the planet. The Doe Fund?s RWA Resource Recovery program is an incredibly useful service for restaurants, and our collaboration is made all the better by promoting the use of renewable resources.?
RWA Resource Recovery supplies containers and equipment for collection. Pickups are scheduled to accommodate the volume of waste cooking oil produced by each client. The Doe Fund then sells the oil to biodiesel producers, who convert it into biodiesel fuel for resale as automotive fuel and heating oil. All proceeds are reinvested back into the program to create more transitional jobs and vocational training opportunities for Ready, Willing & Able participants.
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