Fondation de Luxembourg has launched the endowment organisation “Fondation pour le Climate” which will fund projects in the areas of climate change and biodiversity. Its purpose will be to bridge the gap between donors and the likes of nonprofit organisations.
The new structure, which was given the name Fondation pour le Climat, has already secured its first partner. Indosuez Wealth Management, part of French international bank Crédit Agricole Group, has signed off on a three-year engagement with the foundation.
Fondation de Luxembourg will count on its expertise in selecting projects to make this new venture a success. Its overarching aim will be to link corporate donors with research institutions and nonprofit organisations. Just 2% of global donations in 2022 were allocated to climate change, says the foundation. The newly created climate organisation will focus its activities on three major areas: awareness-raising and education, scientific research, and biodiversity preservation.
“The gravity of the climate crisis cannot be ignored. Capitalising on 15 years of philanthropic engagement and based on the model of our COVID-19 Foundation, we are well-positioned to connect donors with high-quality projects that benefit the planet.”
Tonika Hirdman, director general of Fondation de Luxembourg.
In preparation for the launch of this new organisation, the Fondation de Luxembourg conducted a survey among corporate donors and hosted a workshop with local companies, for which PwC Luxembourg provided its assistance. This was designed to measure the interest in the project, which had been at least two years in the making.
