2017 was a record fundraising year for Innospec with over US$452,000 raised, a 52% increase on our 2016 total of US$244,788.
Supporting local charities and good causes is an important part of our responsible business strategy. As a global company, we take pride in our local approach, supporting the communities where we work and live. Our employees participate in a huge amount of community and fundraising activities throughout the year and Innospec is proud to support them.
Our Fuel Specialties and Oilfield Services businesses raised US$162,000 in their annual charity golf tournaments for PenFed Foundation Military Heroes fund; increasing the amount raised by our employees, customers and partners since 2007 to over US$608,000.
Our Europe, Middle East and Africa Fuel Specialties Business Euro27,000 donated to the German Association for the Protection of Forests and Woodlands for 2016 and 2017 sales activities. The scheme, established in 2008, involves Innospec making a donation for every liter of Ecotherm Furtur sold. Since the collaboration was set up in 2008, Euro322,000 has been donated.
We are also pleased that more people than ever decided to get involved in the second year of our charity funding program, Innospec Cares, with a 70% increase in applications on 2016. We approved 97 applications with an almost even split between match funding support for employee fundraising and direct giving. 2017 saw an increase in the number of match funding applications, which recognizes employees’ efforts by donating US$2 for every US$1 raised. This resulted in US$108,000 match funding of the US$54,000 raised by employees.
We understand the important role of our business in the social and economic development of the communities where we are based. Supporting our employees to participate in community activities is a core business value that benefits everyone involved.