Creation of the More than Ever relief plan
One of the commitments of Ideal’s People pillar is to share the benefits of growth with those in need. In 2020, the Group was able to take a practical approach to that objective. In April, Edenred announced the creation of a fund to support its ecosystem in the face of the consequences of the Covid-19 epidemic. The More Than Ever fund represents a pledge of up to €15 million and has notably been endowed with the proceeds of:
- the 20% decrease in the proposed dividend for 2019;
- the 25% reduction in the Chairman and Chief Executive Officer’s compensation, in line with AFEP recommendations in 2020;
- the 25% reduction in the compensation of the members of the Group’s Executive Committee and Board of Directors in 2020.
The aim of the plan is to:
- protect Edenred employees, notably the most vulnerable, in countries with little or no healthcare coverage or social safety net;
- support partner merchants – restaurant owners first among them – who have been severely impacted by strict stay-at-home orders in the various countries where the Group operates;
- provide assistance to truck drivers using the Group’s Fleet & Mobility Solutions.
Some examples of initiatives:
- in Belgium, the #HorecaComeBack platform was developed with other agri-food organizations to allow consumers to prepay for meals that can be used when restaurants reopen, with an additional contribution from Edenred;
- the Let’s Eat Out communication campaign was run in Romania, the Czech Republic, Slovakia and Bulgaria to increase footfall in restaurants when they reopen. To support the initiative, Edenred made an additional contribution on all transactions carried out using its solutions;
- to help truck drivers during lockdown, UTA distributed masks, hand sanitizer and food baskets in Austria, Italy and Germany, and also provided mobile sanitary facilities when truck stops were closed;
- in Italy, commercial agents whose compensation was predominantly variable received pay during lockdown;
- in Greece and Portugal, employee users received an additional credit on their card each time they used it in an affiliated restaurant;