Chevron announced yesterday it will be giving its largest single donation in company history to the United Nations backed Global Fund, a program that helps to fight AIDS and other infectious diseases throughout the world. This also marks the largest single donation to the Fund by a company, which makes Chevron the Global Fund’s first “Corporate Champion” – a program that was launched in conjunction with Chevron’s donation.

Chevron will pay the money over three years to Global Fund-supported programs in countries where the company operates. A press release from the Fund says that because Chevron is a corporate champion, the company is now “required to demonstrate a long-term commitment to fighting these global health issues,” referring to AIDS, TB and malaria.

The timing of the announcement is no-doubt intended to coincide with the looming World Economic Forum conference in Davos, Switzerland. David J. O’Reilly, CEO of Chevron, is confirmed to be attending the conference, and will now have more to brag about at the high-powered lunch meetings the conference is notorious for (Forbes magazine goes so far as to label it a “who’s who gabfest” event).

Anyway, good on you, Chevron. It will be interesting to see if the Global Fund, which already has pledges currently at $18 billion, can attract any more large corporations to donate their money.