A philanthropic foundation that gives more than $3.4 million a year has backed the gay Pride parade and pledged to work to promote human rights in Bermuda.

The Bank of Bermuda Foundation said it believed in “the basic human rights of every individual - the shared values of dignity, fairness, equality, and respect”.

A spokesman added: “In keeping with our vision, the foundation openly and fully supports the upcoming Bermuda Pride 2019 parade as it raises

awareness of the human rights issues affecting the LGBTQI+ community in Bermuda.

“The foundation recognises it has an important role to play by embracing advocacy work and utilising our platform to bridge the many divides within our community.”

The spokesman said the foundation had drawn up a “Theory of Change” designed to put ideas into action.

Allison Towlson, managing director of the foundation, added, “Our Theory of Change is clear in that we support ‘all’ individuals in the community. The Foundation recognizes the enormous social and economic responsibility it has, as an endowment fund, to contribute to the fabric of Bermuda’s society in a holistic way.

“For the Foundation, it’s about advocating for the rights of others, including the LGBTQI+ community, and wherever we see a segment of

the population marginalized, whether economically, educationally or through access to quality healthcare, we have a responsibility to raise awareness and work to bring the community together from all walks of life.”

The Theory of Change document is online is available online at www.bankofbermudafoundation.bm/work/

The independent foundation donates about $2.5 million dollars in grants to charity and hands out up to $950,000 in student scholarships every year.