GRUNDFOS FOUNDATION Currently, we all have a lot to thank re- searchers and health professionals for. Infection tracking, effective healthcare and behaviour-change helped curb the pandemic. Dedicated research and development created vaccines against COVID-19 with a speed the world has never seen before. Imagine if we could do the same for the climate. Humanity can do great things in a very short time. We have to learn from that. At the Foundation, we try to use the collected experience to become even more agile as owners, philanthropists and investors. Mission-driven partnerships Our mission-driven approach has shown that targeted collaboration between different partners to solve a societal problem is the way forward. An example is the Circular Phosphorus Recovery project, which has as its mission to clean lakes and at the same time try to extract phosphorus. Here, four Danish universities have succeeded in working well and strong- ly together to solve a major societal challenge that can have a significant impact on the climate impact of lakes. The American NGO Water Mission and Danish PlanBørnefonden work to- gether to provide clean drinking water for thousands of refugees in Ethiopia, which has great prospects, but which was affected by both the ongoing pandemic and civil unrest. Jens Maaløe Chairman Kim Nøhr Skibsted Executive Director Photo: Montgomery Foto Finally, together with municipalities, private actors and civil society, we are trying to develop new methods for the inclusion of vulnerable people, e.g. the Danish Refugee Council, housing associations and sports life. Common to all is an objective of scalability, and it is our hope that our experience can inspire others. Trust creates results A number of the Foundation's partners in all philanthropic donation areas have achieved an exemplary impact from donations in research and learning, water and sustainable development and social inclusion and community engagement. We have learned that many organisa- tions can easily manage themselves and even do better if we pass on free- dom and responsibility. We will make more use of this trust-based approach, so that partners and projects that show transparency and produce results should not be controlled zealously, but should instead be given a framework in which they have the freedom to achieve the agreed objectives in their own optimal way. Historical Grundfos Year Despite the pandemic, shutdowns and the biggest organisational change in the company's 76-year history, the Grundfos Group has produced solid results with strong sales growth and best earnings ever since its inception in 1944. As the largest shareholder and primary owner, it has been very satisfying to follow the excellent development that also included the acquisition of the American company MECO. Grundfos is well underway, and the Foundation is very confident that ambitions and expectations expressed in the Group's business strategy will continue to be achieved in the years to come. Despite value fluctuations in the global economy, the Foundation's asset management has yielded a reasonable return. The Foundation has adopted the opportunity to act as a direct in- vestor in small technology companies, which in the long term can contribute to the ambition to ensure clean water for millions of people and to comply with and support the UN's 17 SDGs. New skills and tools In 2021, the Foundation has boosted the Secretariat within finance and administration. It has strengthened internal processes, among other things with new tools to define and measure impact of donations. In 2020, the Foundation decided to in- crease the framework for distributions to DKK 200 million annually. This level was repeated in 2021 with a desire to increase the coherence between the three distribution areas so that they contribute to sustainable development through a more holistic approach. In 2022, the Foundation's strategy will be lived out through active and responsible ownership, strong partnerships and projects, as well as investments that contribute overall to more sustainable development. 3
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