Soles4Souls, a nonprofit that creates sustainable jobs and provides economic relief while helping to protect the planet through the distribution of shoes and clothing around the world, has received a $150,000 grant from Bank of America to expand its 4Opportunity program to the Dominican Republic. 4Opportunity creates jobs by enabling individuals in low-income countries to start small businesses through a steady supply of high-quality, low-cost shoes and apparel. The program also helps the environment by giving a second life to unwanted shoes by diverting them from landfills.
“For more than a decade, we have seen how our 4Opportunity program can change lives around the world,” said Soles4Souls President and CEO Buddy Teaster. “Building on our deep partnerships in Haiti, BofA’s incredible support will allow us to bring that opportunity to some of the most disadvantaged communities in the Dominican Republic. We believe BofA’s generous grant will have a meaningful, measurable impact by supporting Soles4Souls in working with those looking to create a better life for themselves and their families.”
Soles4Souls’ 4Opportunity program has been empowering under-resourced communities in some of the world’s most economically challenged areas since 2008. The people in these countries, especially women, often have little access to the marketplace, let alone the opportunity to create wealth for themselves and their families.
The program also has important environmental benefits. Americans throw away nearly 300 million pairs of shoes each year and about 21 billion pounds of textiles. By some estimates, a truckload of textile waste is added to landfills or incinerated every second. This waste creates 9 billion pounds of carbon emissions and squanders 7 billion gallons of water. Soles4Souls’ efforts help address this issue by extending the life of a pair of shoes by at least 15 months, reducing their carbon impact per wear and preventing them from becoming environmentally harmful waste. Since 2006, Soles4Souls has diverted 91 million pounds of shoes and clothing from landfills in 34 countries and all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
“Soles4Souls has developed an innovative approach to simultaneously nurture small businesses and address challenges of poverty, gender inequality and waste, and we’re proud that our support will enable the organization to impact even more communities,” said Alex Liftman, Global Environmental Executive at Bank of America.
Research shows women in low-income countries reinvest their money into meeting their children’s basic needs like education, health, and safety, increasing their chances of long-term disruption of poverty. Entrepreneurs in the 4Opportunity program report that they have been able to increase their household income by more than 200%, which equates to putting them on average more than 5 times above the international poverty line.
In addition to the $150,000 grant, Bank of America employees will participate in a shoe drive across the company’s locations beginning in April. Shoes donated during this drive will also go to the 4Opportunity program.
Bank of America has proudly partnered with Soles4Souls through its My Environment employee network since 2017.
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