GRUNDFOS FOUNDATION These times are not for passivity or indifference, but for action and commitment. The pandemic is still looming, and viral diseases pop up sporadically. The continuing war in Ukraine creates insecurity and uncertainty about European stability. Hamas’ terrorist attacks on Israel risk increasing tensions in the Middle East. At the same time, new epoch-making technologies are rolling over us and changing the way we live. Misinformation and deliberate manipulation are an acute threat, and artificial intelligence offers both opportunities and challenges. The Foundation has consolidated its activities and complied with the Charter by engaging locally, nationally and globally. Through the Poul Due Jensen Community Engagement Grants, improvements are created in local com- munities through local partners and Grundfos employees. This programme was initiated in connection with the pandemic and had a lasting and beneficial effect in several places. With Grundfos’ volunteering programme, which gives employees three paid days to engage locally, the programme remains highly relevant and beneficial on several levels. Grundfos performs well Despite more complex and changing markets, Grundfos managed to produce solid results. Despite the full exit from Russia, the Group delivered a very good profit, impacting on the Foundation positively through the Group’s dividend Flemming Konradsen Chair Kim Nøhr Skibsted Executive Director Photo: Montgomery Foto payout. The colossal customer loyalty has been maintained and employee motivation is sky-high. Despite geopolitical and world economic tensions, Grundfos’ products, technologies and services promoting energy efficiency and sustainability are in high demand. Targeted partnerships The Foundation’s philanthropy is viewed through three lenses: research, water and social inclusion. Through strong cooperation with various partners, the efforts have become more targeted. In particular, the strategically based partnerships and alliances have been strengthened. Likewise, our desire to gather more people around mission-driven efforts has been strengthened. This applies, for example, where universities and other learning institutions explore and gain new knowledge together. The focus is primarily water technologies, but we are bringing in other disciplines to make our efforts more useful for more people. One example is artificial intelligence. Together with NGOs and UN bodies, we work with water, which is crucial for societal development, and look at connections to health and learning as prerequisites for real development. Finally, civil society is an important player for greater social engagement and responsibility. Sport, for example, plays an important role in including more vulnerable fellow human beings in communities. Collaboration needed In the context of the pandemic, we saw a great need to talk to other similar funds about contributing more effectively and systemically. This has manifested itself in concrete collaborations that have set out to do more for more people. One example is an alliance where we, together with the LEGO Foundation, the Novo Nordisk Foundation, the Danish Ministry of Foreign Affairs and a number of NGO partners skilled in education, health and water, join forces to increase life opportunities for refugees in Kenya. The alliance was formally presented at UNHCR’s Global Refugee Forum in Geneva and attracted due attention. We believe this kind of collaboration can inspire others to do the same; combining their skills and means to create long-lasting results faster. The Foundation awarded grants worth DKK 256 million in total in the financial year 2023. The list of donations can be found on pages 74-77. Asset management The Foundation’s liquid assets primarily include investments in shares and bonds. It has been an important priority for the Foundation over the past year to further systematise and professionalise asset management and to allocate assets sensibly and responsibly. Direct investment In some cases, the Foundation’s grants provide opportunities for technology and business development. In 2023, we therefore established a direct investment company, PDJF Direct Invest ApS, which has bought a minority stake in TEMcompany ApS (formerly Aarhus GeoInstruments ApS). 3
Download PDF file
Cookie policy