11.15.2006 - 01:41pm ET

(CSRwire) NEW YORK (November 6, 2006) - At its annual meeting on November 6, the Board of Directors of Mitsubishi International Corporation Foundation (MICF) approved over half a million dollars in new grants, including a grant of $400,000, payable over 5 years, to O Boticário Foundation for Nature Protection; $150,000, payable over three years, to Sustainable South Bronx; $8,000 to The Friends of the High School for Environmental Studies; $5,000 to the New York Botanical Garden; $5,000 to the Brooklyn Center for the Urban Environment; $5,000 to International Funders for Indigenous Peoples; and $2,500 to the Foundation for Student Communication.

MICF's grant to O Boticário Foundation for Nature Protection in Brazil provides lead support for a massive project to protect parts of the Atlantic Forest that serve as the second major watershed for the capital of Sao Paulo, improving the quality and supply of water to more than four million people. The innovative initiative, known as the Oasis Project and modeled partly on measures used to protect the watershed that serves New York City, will offer payments to landowners for conservation easements aimed at preserving natural areas on their land. O Boticário Foundation has been developing this project for more than three years and has identified key conservation areas to which it will apply an environmental valuation model that it has created in partnership with environmental economics and legal experts. The goal for the first phase of the Oasis Project is to protect 2,500 hectares of private land under agreements to be signed between 2007 and 2011. The MIC Foundation is proud to contribute both to the conservation of a threatened region of high biodiversity and at the same time contribute to improved and sustainable water quality for the people of Sao Paulo," said Mr. Ryoichi Ueda, Chairman of the MICF.

The grant to the Sustainable South Bronx, a leading advocate of environmental justice, will fund the continuation and expansion of the Bronx Environmental Stewardship Training (BEST) Program, which links environmental clean-up and restoration in the community to the career development and economic needs of local people. First launched in 2002 as a pilot program, the BEST Program has successfully provided training for underserved community residents in ecological restoration, hazardous waste clean-up, landscaping and similar fields. To date, 90% of the program graduates are now gainfully employed and 80% are working in the field of environmental stewardship.

MICF grants to The Friends of the High School for Environmental Studies and the Brooklyn Center for the Urban Environment will support environmental educational programs at public schools in Brooklyn and Manhattan, while the grant to the New York Botanical Garden will support children's education programming in the Bronx. MICF's support of the New York Botanical Garden, dating back to 1994, now totals more than $300,000, and this year's grant will be used for continued support of educational programs and activities involving the Mitsubishi Wild Wetland Trail, where visitors learn about the ecological significance of wetlands.

The grant to the International Funders for Indigenous Peoples will support IFIP's annual Linking Circles conference, which provides a forum for funders and indigenous peoples to collaborate on how best to support indigenous peoples' causes.

In addition to the new grants, the MICF Board authorized the payment of annual installments coming due for multi-year grants totaling over One (1) Million Dollars, including multi-year grants of $500,000 to the Wildlife Conservation Society, $250,000 to Forest Trends, $206,800 to the American Bird Conservancy, $80,000 to the Rainforest Alliance, and $50,000 to the Japanese American National Museum, which were approved in prior years.

The Mitsubishi International Corporation Foundation, based in New York City, was established in 1992 with funding from Mitsubishi Corporation of Japan, and its U.S.-based subsidiary, Mitsubishi International Corporation. With a current endowment of nearly $6 million, the Foundation has dedicated more than $3 million to charitable causes throughout the Americas. Contributions for Europe and Africa are made by the Mitsubishi Corporation Fund for Europe and Africa, which has given more than $2 million to environmental conservation, education and research since 1993.

For more information about the Mitsubishi International Corporation Foundation, please visit www.micfoundation.org; and for more information about the Mitsubishi Corporation Fund for Europe and Africa, please visit www.mcfea.org.

For more information please contact: