In an era where the mental health of young people has reached crisis levels worldwide, the Morgan Stanley Alliance for Children’s Mental Health stands as a beacon of hope, driving significant efforts to address this pressing issue. Joan Steinberg, President of the Morgan Stanley Foundation and CEO of the Alliance, recently sat down for an interview on The Caring Economyto discuss the critical state of youth mental health and the important work being done by the Alliance to combat this escalating crisis.
The global state of youth mental health paints a stark picture. Approximately 1 in 7 (14%) adolescents aged 10-19 experience mental health conditions worldwide, translating to around 200 million children and teenagers struggling with mental health disorders globally. The COVID-19 pandemic has only exacerbated an already concerning trend. A meta-analysis of 29 studies involving over 80,000 youth found that clinically significant depression and anxiety symptoms were substantially higher than pre-pandemic estimates. Depression rates among youth increased to 23.8% (compared to 8.5% pre-pandemic) and anxiety rates rose to 19% (from 11.6% pre-pandemic).
The crisis is particularly acute for certain demographics. In the United States, nearly 60% of teenage girls reported feeling persistently sad or hopeless in 2021, with one in three having seriously contemplated suicide. This represents a 60% increase from the previous decade. Globally, suicide has become the fourth leading cause of death among older adolescents (aged 15-19). The rise in suicide rates among teens predates the pandemic, with a significant jump observed between 2007 and 2018, suggesting that other factors, such as the rise of social media, may be contributing to the decline in youth mental health.
Access to mental health services remains a significant challenge. It’s estimated that only about 30% of the 17 million young people with mental health disorders in the US receive treatment, leaving 70% without intervention. This treatment gap is likely even wider in low- and middle-income countries, where 90% of the world’s children reside.
It is against this backdrop that the Morgan Stanley Alliance for Children’s Mental Health was established in February 2020. Since its inception, the Alliance has already made a significant impact, benefiting over 37 million youth, families, and educators globally. Steinberg emphasized that the Alliance brings together key leaders and organizations in the children’s mental health space, combining Morgan Stanley’s resources and reach with the expertise of distinguished nonprofit partners.
When asked about the decision to focus on children’s mental health, Steinberg explained that Morgan Stanley recognized the severity and urgency of the issue. The company understood that addressing this crisis required a multifaceted approach, including early detection, prevention, and increasing access to mental health services for youth. Additionally, there’s a growing recognition of the need to address social determinants of health and strengthen protective factors in families, schools, and communities to support youth mental well-being.
Steinberg announced that Morgan Stanley has recently strengthened its commitment to the Alliance with a new $20 million funding pledge over the next five years. This brings the total investment to $50 million since the Alliance’s launch in 2020. The increased funding demonstrates Morgan Stanley’s dedication to addressing the youth mental health crisis and expanding the reach and impact of the Alliance’s programs.
As part of this expansion, the Alliance has welcomed two new members to its roster of distinguished nonprofit partners: The American Academy of Pediatrics and Sesame Workshop. Steinberg explained that these additions will help broaden the Alliance’s focus to include early childhood care and workforce development for pediatrics.
The American Academy of Pediatrics, representing 67,000 pediatricians and pediatric specialists in the U.S., will work on strengthening the preparedness of pediatricians to address the immediate mental health needs of children, with a specific focus on medically underserved communities. A new Pediatric Mental Health Education Center will be established to equip pediatricians with the knowledge, tools, and collaborations needed to integrate mental health support into their practices and communities.
Sesame Workshop, the global impact nonprofit behind Sesame Street, will expand its organization-wide early childhood mental health initiative. Their efforts will focus on early detection and prevention, helping young children and their caregivers in marginalized communities across the U.S. address mental health issues as early as possible.
Steinberg highlighted the Alliance’s Innovation Awards program as a key initiative supporting emerging solutions in children’s mental health. While specific details about the program were not provided in the interview, it’s clear that this initiative aims to identify and scale innovative approaches to addressing youth mental health challenges.
The Alliance’s work extends beyond grantmaking to include capacity building, awareness, and advocacy efforts. Steinberg emphasized the importance of a multifaceted approach to tackling the youth mental health crisis. By uniting cross-generational leaders, advocates, and activists, the Alliance works to raise public awareness and bring to life new initiatives to combat this global issue.
One of the strengths of the Alliance’s approach is its ability to engage Morgan Stanley employees in the cause. Steinberg noted that philanthropy and charity bring out the best in people, and she has witnessed firsthand how the firm’s employees are dedicated to creating transformative change in their communities. The focus on children’s mental health has resonated strongly with Morgan Stanley staff, who contribute their time, skills, and financial support to the Alliance’s initiatives.
For other corporations looking to strategically focus their philanthropy, Steinberg’s experience offers valuable insights. She advises understanding the multiple facets of an organization’s identity and finding an issue that aligns well with the company’s values and strengths. The success of the Alliance demonstrates the power of combining corporate resources with nonprofit expertise to address complex social challenges.
As the mental health crisis among young people continues to be a pressing concern, initiatives like the Morgan Stanley Alliance for Children’s Mental Health play a crucial role in driving progress. Through strategic investments, innovative programs, and collaborative partnerships, the Alliance is working to ensure that more children and young people have access to the mental health support they need to thrive.
The Alliance’s approach recognizes that addressing the youth mental health crisis requires a comprehensive strategy. This includes not only providing direct support and treatment but also focusing on prevention, early intervention, and systemic change. By working with partners like the American Academy of Pediatrics, the Alliance is helping to build capacity within the healthcare system to better address mental health needs. The partnership with Sesame Workshop demonstrates a commitment to reaching children at the earliest stages of development, recognizing that mental health support should begin in early childhood.
The Morgan Stanley Alliance for Children’s Mental Health offers hope in the face of a daunting global crisis. By leveraging corporate resources, fostering partnerships, and driving innovation, the Alliance is making significant strides in supporting youth mental health. As the world continues to grapple with the challenges of mental health among young people, initiatives like this will be crucial in creating a brighter, healthier future for the next generation.
