Global Thinking Foundation, established on April 19th, 2016 by Claudia Segre, in memory of the late Angelo Renato Chiodi, aims to help talented and hardworking students to lead their professional path into a mixture of human and specialised qualities, spreading the principles of financial education and “economic citizenship” between students and investors.
As claimed by Article 2 of the Chart, the Foundation engages only in missions and activities of public benefit and social solidarity, in particular:
- Scholarships for economic and financial students that meet the merit requirements, decided by the Board of Directors; the selection criteria include average GPA obtained by the student, family income, number of children supported by the family, and other details taken into consideration by the Board of Directors through the designated regulations. The scholarships are therefore distributed to those dedicated and deserving students that are not able to finance their studies;
- Specific activities of civil, historic, cultural, artistic matter and civil rights protection;
- Charity and fundraising activities;
- Other ancillary activities to the formers, allowed by the Chart and the law.In order to fulfil these objectives, the Foundation engages in projects, feasible in the short, medium and long-term. These projects are revised and examined by the Scientific Technical Committee, whose members are prestigious experts in the economic and financial sectors.
II – THE PROJECTS
The budget available for activities and events is examined periodically by the governing and administrative bodies, with emphasis and attention on the different stages of development of the projects. In order to spread the economic culture that regards all aspects of our world, Global Thinking Foundation intends to reach worldwide institutions and national targets, enhancing and promoting our projects. The amount of resources available for the scholarships are calculated by the governing bodies through means of projections based on estimates and assumptions.
Special attention is paid to students, as they approach the world of finance today looking for guidance into its complexities to become the investors and savers of tomorrow. The Foundation helps and supports talented low income students, who choose to pursue studies in economics and finance, and ultimately, their families, creating greater social and economic inclusion.
The Foundation’s own Board members offer their expertise, available for panels and classes in universities and high schools, to promote the principles of economic citizenship.
Scholarships are one of the main tools that the Foundation uses to pursue its philosophy. These scholarships are based on merit and need, following criteria established by the Board. The criteria include: GPA, family income, number of children in the household and other considerations. The Foundation provides funds, promotes or organises fundraising for the students who have the necessary requirements and a strong interest in the world of finance and economics.
A major part of the Foundation’s efforts is devoted to adults and families. In 2016 the Foundation launched several projects in accordance with the shared principles and in partnership with the FEDUF, Foundation for Financial Education and Savings, created by ABI, the Italian Banking Association, Adiconsum (Consumer Protection Association) and the Museum of Saving. These opportunities resulted in establishing a body of didactic materials for educators as well as for a series of events nationwide.
In 2017 in partnership with Assiom Forex (the Association of Financial Markets Operators), the Foundation offers ISO 9001 certified courses, organized around three topics: family budget planning, financial planning and professional planning. These courses are supported by institutions and civil society operators, as well as credit consortia, anti-usury institutions and associations for the protection of women of domestic abuses.
The Global Thinking Foundation also focuses on another important issue: economic violence against women. The Foundation promotes a culture of prevention and support for victims of mental and physical abuse through various fund-raising and educational activities. The Global Thinking Foundation provides financial and human resources to efficiently support these victims and offer them the opportunity for a fresh start. In the current framework of gender inequality, women have limited or no access to financial resources, creating major obstacles to their independence and opportunity to actively support their families. In some cases, the victim may be even excluded from their social circle of friends and colleagues by their partners. This economic violence consists of varying forms of abuses, including the seizing of income or denial of access to joint bank accounts, thus depriving the victim of any sort of payment or liquidity. The partner is then able to exercise absolute control over the woman who rarely manages to ask for help and regain her freedom.
- The commitment of the Foundation to research and sustainability is present on the international stage, cooperating with the Global Financial Literacy Excellence Center (GFLEC) of George Washington University, USA. The partnership has produced different analysis, projects and research regarding financial and educational trends. GFLEC is considered among the leaders in research and support of financial literacy: their projects and recommendations are able to influence the political sphere, contributing to several programs for financial education in schools, workplaces and communities.
- With the constant commitment of identifying and supporting young talents, the Foundation awarded several scholarships to high school students, winners of national competitions organised by the Ministry of Education, in the occasion of the “Fuoriclasse della Scuola” Project. The latter is developed through a memorandum of understanding of the Italian Ministry of Education with FEDUF and the Museum of Savings. The GLT Foundation has also supported and shared projects with the Museum of Savings: their distinctive approach to the matters of finance and economics through educational entertainment (Edutainment) has proven effective to direct young adults and families towards financial education.
- The Global Thinking Foundation is partner of the Eraclito2000 Association, actively supporting its twenty-fourth edition of the CIBA (Communication Strategies for Business, Banks and Insurance Companies) Master Program in 2017. The Foundation awarded seven scholarships for the program to highly selected students. For more than twenty years, Eraclito2000 has offered didactic courses to talented graduates, creating a direct interrelation between the Association and the social-economic texture of the Country.
- The Global Thinking Foundation is a Supporting Member of FEDUF, the Foundation for Financial Education and Savings by ABI, the Italian Banking Association. Alongside with FEDUF, in 2017 the GLT Foundation organised the conference “Financial Overconfidence: the warning line between investments and investors in complex markets” during the Salone del Risparmio in Milan, Italy. The Foundation also participated in several meetings regarding “New Suggestions to Work-based Learning 2017-2018”: the project “Che Impresa Ragazzi!” for high school students has been one of the cornerstones of the Foundation’s tight collaboration with FEDUF.
- The Foundation has established an online Information Desk regarding the issues of Social Security and Insurances, in order to explain risks, guarantees and coverage requirements, to be then included into a successful management of the family budget. Recent Italian legislation aims at integrating fundamental notions of economics and finance into the school curriculum. Nevertheless, basic terminology coupled with awareness and analysis of risks leading to a better understanding of financial products, remain necessary for a national strategy towards better financial literacy and social security. These concepts are now a priority not only for adults, but also for Millennials and young employees.
- The Glossary of Financial Education “Words of Economy and Finance” was created by the Global Thinking Foundation, in partnership with the Sixth Finance Commission of the Italian Chamber of Deputies. A Team of graduates, led by the Foundation’s Board and Scientific Technical Committee, has gathered the concepts of today’s finance into an informative and complete manual, to offer a valid support to the debate about the evolution of financial markets and financial inclusion. Including more than 350 economic and financial concepts, the Glossary aims to explain notions of economics, finance and economic history to high school and university students, families and new investors, using simple and accessible language. Also available in eBook format, “Words of Economy and Finance” is published by Giunti Editore and 125.000 copies have already been distributed for free to students and teachers. A second edition, updated with the latest news and terms of today’s finance, will be available in 2018.
- W2 – Women Squared is an initiative established with the collaboration of ASSIOM FOREX: women with an extensive expertise in the financial sectors, offer free financial education courses to women victims of domestic abuse. All courses are ISO 9001 certified. Delivering and monitoring the courses, a Task Force not only teaches the principles of a responsible management of the family income, but also contributes to the process of financial inclusion for those women, victims of economic isolation. The tools that the Global Thinking Foundation intends to give through this initiative can encourage women to seize the opportunities of the digital age and sharing economy. In order to face these contemporary challenges, a financial and economic background is absolutely necessary, thus shaping an entrepreneurial approach to the woman’s own business activities. The courses can be a valuable resource to help them manage the household’s expenditures and income, and to save the necessary amount for healthcare, children’s education and retirement.
- The Foundation participates to the Trust Woman Care Organisation, who promotes social, cultural and financial activities to fight violence against women. The Global Thinking Foundation pays special attention to the issue of gender policies, especially regarding the lack of financial resources or financial isolation. Economic violence is in fact one of the first steps in the so called “cycle of violence”.
- The World Investor Week, from October 2-8 2017, was promoted by IOSCO, the International Organisation of Securities Commissions: alongside with CONSOB, IOSCO promoted a global campaign aimed at raising the level of awareness regarding the importance of financial education, responsible investments and adequate savings. The initiative involved different partners not only from the financial sphere, like the Global Thinking Foundation, but also schools and districts. All events and activities were freely available to citizens, in order to offer them important tools for family, professional and insurance planning.
- The project FamilyMI won the grant offered by Fondazione Cariplo, creating the ponline platform and promoting a series of opportunities in Milan and nationwide, in collaboration with the FEDUF, the Polimi Foundation and ABI. The FamilyMI website includes a set of questions to test the user’s knowledge on financial, economic, and insurance-related issues. Every topic is linked to short videos that help the user (investor, saver or family) identify his or her area of interest and capacities. From bonds to foreign exchange and certificates, the user engages in an interactive journey that passes through different activities, set to improve his or her approach towards investments and savings.