2023 in numbers
Just as we believe transparency can be a tool for systems change, we are committed to being transparent about our own funding, how we’re contributing to change and what we’re learning with partners.
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Our
commitment
Laudes Foundation’s active portfolio of grants in 2023 totalled EUR 225.6 million. This amount includes the EUR 73.6 million of new grants made in 2023.
*Historical data provided in previous annual reports
Programme
Actor
2023 commitment: EUR 73.6m
Number of grants
Laudes Foundation funded 313 new initiatives in 2023. Of these, 104 were existing partners receiving second or third grants, building long-term partnerships based on lessons and successes of previous initiatives.
313
Grants
104
Renewed partnerships
94
New partners
36
Built environment
30
Fashion
13
Food
55
Finance and capital markets
67
Labour Rights
32
Narratives
106
Building the field
Median grant size and average duration
We aspire to build long-term and large-scale grants that allow partners to have stability and security to test ideas, take risks, and create the most impact. At the same time, we are committed to increase both metrics, we understand the importance of philanthropic investment in small and short-term grants that can help in advancing research, piloting innovations, filling knowledge gaps and developing nascent concepts.
CASE STUDY: Accela Research
How a small grant can enable great impact
*Center for Effective Philanthropy custom cohort benchmark of Laudes Foundation 2022 grantee perception survey.
Leverage and co-funding
When funding new initiatives, we are intentional about bringing other funders with us through co-funding, giving partners additional resources and voices to support their work. Throughout the partnership, by providing partners with financial and non-financial support, we enable them to leverage our initial funding to attract new funders, enabling them to scale up efforts or extend the initiative’s reach.
CASE STUDY: Canopy story
Long-term partnership leveraging funds for growing impact.
Co-funding and leverage
Source of funding
General Operating Support
General operating support, or unrestricted funding, gives partners the ability to deploy funds where needs arise. While we dedicated 28.5% of our funding to trusted partners who share our overarching mission to use this flexible funding, we acknowledge this is not sufficient. We are committed to increasing this funding to allow partners to better meet emerging needs and enhance our collective impact.
Geographic footprint of active grants
To accelerate a green, fair and inclusive economy, our partners are active in many parts the world where decision-makers with ability to promote change and workers across the supply chain of our focus industries are. In line with our ambition to enable global, holistic change, 42% of our grants aim to encourage and push leaders in business and policy to make big changes that matter worldwide.
All sectors
Built Environment
Fashion
Food
Labour Rights
Narratives
Building the field
Total grants
361
Total in EUR
185.5m
Total grants
60
Total in EUR
39.5m
Total grants
47
Total in EUR
21m
Total grants
12
Total in EUR
1.3m
Total grants
114
Total in EUR
53.9m
Total grants
33
Total in EUR
6.68m
Total grants
72
Total in EUR
6.4m
Catalysing Action
The Labora fund
Protecting labour rights
Catalysing Action
Our commitment to the IPCCC
Commitment
What Laudes is doing
Education and learning
We will ensure that our boards, investment committees, staff, volunteers and stakeholders are informed about the systemic causes, impacts and solutions of climate change, and the implications for our work.
As a learning organisation, we commission new research to consistently evaluate ourselves as well as the initiatives we fund, to help our team, governors, partners and stakeholders understand the system in which we operate, what works and what doesn’t.
During our strategy development process, we created an Economic System Map, published under a Creative Commons licence, to visually reflect, test and share structural issues within the economic system and industries with which we work. In our annual report, we review the progress we’re making to change the system in line with our Theory of Change.
Commitment of resources
Recognising the urgency of the situation, we will commit resources to accelerate work that addresses the root causes of climate change or adaptation to its impacts. If our governing document or other factors make it difficult to directly fund such work, we will find other ways to contribute, or consider how such barriers might be overcome.
With a EUR 225.6 million portfolio of active grants, Laudes Foundation is accelerating climate action by supporting brave, innovative efforts that inspire and challenge industry to harness its power for good. In 2022, EUR 35.6m (56%) of our annual commitment was directed towards our climate outcomes.
Integration
Within the design and implementation of our programmes, we will seek opportunities to contribute to a fair and lasting transition to a net zero world, and to support adaptation to climate change impacts, especially in the most affected communities.
We cannot address the climate crisis without ensuring a just transition. Laudes Foundation is working at the intersection of climate change and inequality, investing 44% of its 2022 annual commitment in partnerships promoting an inclusive economy.
Endowments and assets
We will consider climate change in relation to the source and management of our operational and any endowed funds. We will seek to align our investment strategy and its implementation with a rapid and just transition to a net zero economy.
Laudes Foundation’s funding is managed by Constanter’s Investment Office. Constanter strives to ensure its investments are aligned with its mission, going beyond legal and regulatory compliance to express our values as well. Informed by responsible investment guidelines, which are implemented through its asset managers and partners, it aims to exclude assets that are incompatible with our values or fail to meet international standards. It seeks to integrate Environmental, Social and Governance (ESG) principles and uses them to guide manager selection, engaging actively to influence positive change.
Operations
We will take ambitious action to minimise the climate impact of our own operations, which may include for example travel, buildings and procurement.
We are measuring our carbon footprint and constantly looking for ways to reduce the impact of our operations.
Influencing and advocacy
We will seek opportunities to work with others, to amplify the voices of frontline communities, and to encourage and support more ambitious action on climate change by our key stakeholders, partners and audiences; these may include businesses, local or national governments, multilateral organisations, donors and funders, individuals or civil society movements.
A core part of our strategy is to support partners’ efforts to advocate for policy change, while ensuring the voices of workers are taken into consideration. We’re also funding initiatives to ensure climate science is reflected widely across global media titles to influence mindsets and create pathways for change.
Transparency
We will collect and publish information annually on the actions we have taken against the six pillars listed above to share our progress and identify areas for improvement. We will continue to develop our practice, to collaborate, and to learn from each other.
We’re committed to being transparent about our progress and our challenges when taking steps towards the seven pillars above. We do this by actively participating and sharing our journey with other stakeholders, particularly funders, as we did at various events hosted by WINGS and Philea, and at COP27 and the World Economic Forum’s annual meeting, as well by sharing our progress annually in our annual report.
Case Study
Canopy: pioneering next generation fashion materials
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Next-generation materials are necessary for the fashion industry to move away from fossil and ancient forest-based materials, including viscose. Since our partnership with Canopy in 2018, the organisation has been rallying brands and suppliers to move away from wood-based viscose sourced from ancient and endangered forests. Thanks to Canopy’s work, the once little-known issue of fashion’s impact on forests has become common industry knowledge, and 478 of the world’s biggest brands have now developed public CanopyStyle sourcing policies.
The increased market pressure to move away from ancient forests has led to 50 percent of the global man-made cellulosic fibre supply chain eliminating its use of ancient and endangered forest-based wood fibres. As recently as 2016, commercial next-generation textile development was considered impossible but, thanks to Canopy’s interventions, in 2023 four of the world’s top five producers have launched next-generation product lines, and 12 others are investing in next-generation research and development.
In April 2023, Canopy was selected by The Audacious Project to receive USD 60 million to further catalyse the commercial production of low-carbon and circular solutions across the globe.
"The Audacious Project allowed us to dream about what was possible for our planet if funding was not an obstacle! Our partnership with the Laudes Foundation set the stage for this inflection - supporting us in significant growth, opening new networks, and being true strategic partners as we've pioneered new terrain in the fashion and materials spaces. We're excited for what we'll make happen together next!"
Nicole Rycroft, Founder and Executive Director of Canopy
Case Study
How a small grant can enable great impact
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Accela Research enhances dialogue on financial and climate analysis between investors. Their distinctive climate research and interactive transition models are distributed to analysts globally, helping them to identify gaps in companies’ climate transition plans and encouraging the implementation of improved target setting.
In 2023 Laudes Foundation supported Accela Research to grow their operations and amplify their reach. Through a nine-month partnership, we supported Accela to advance their communications and stakeholder engagement strategies as well as develop new messaging to secure further funding. Laudes also connected them with new funders and partners in our network, helping them achieve key milestones in 2023:
- Regular in-depth advisory research coverage for five energy conglomerates
- 32% increase in report downloads and 58% increase in website research page engagement following the launch of a new website
- 51% increase in newsletter subscribers from the financial sector from June – December.
To continue driving finance towards decarbonisation, we have renewed our partnership with Accela in 2024 to further advance their capacity and support the organisation to connect built environment transition analysis to industry and investors.
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