MOLINE, ILL. — John Deere has announced community investments totalling $55.5 million in 2022, a 30 per cent increase over the prior year.
The total represents 1.4 per cent of the company’s average net income over the previous three years and exceeds Deere’s commitment of investing at least one per cent of the earnings every year in civic initiatives, stated a release.
The firm, based in Illinois, is a supplier of construction, agricultural and forestry equipment.
The John Deere Foundation contributed $22.1 million in charitable giving to the 2022 total.
In 2021, the foundation committed at least $200 million over the next decade to support marginalized families and youth in Deere hometowns and smallholder farm households.
In 2022, the foundation allocated $3 million to food banks and for emergency hunger assistance, representing the equivalent of more than 13 million meals, and gave $5 million to serve 3.8 million farmers globally to increase their food security, incomes and resilience to conflict and climate change.
In 2022, Deere employees logged 174,518 hours of volunteerism and personally donated $5 million. The foundation matched the employee donations with donations of $6.2 million.
“At John Deere, we have always believed that our growing success as a business creates an even greater responsibility to contribute meaningfully and sustainably to lives of others,” stated John May, chairman and CEO of Deere and Company, in a statement.
“While the company contributes to global food security through products and services that promote the profitable, productive, and sustainable production of food, we can do even more.”
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