UK: Strategic partnership formed for Fairtrade

Impetus Trust ? a pioneering venture philanthropy charity in the UK ? has announced that it is investing in and forming a partnership with The Fairtrade Foundation.

The Fairtrade Foundation works to improve the lives of poor and marginalized farmers in developing countries by promoting fairer forms of trade. Currently around 580 producer groups, representing over 5 million people – farmers, workers and their families from 58 countries – benefit from Fairtrade.

Impetus is bringing a new approach to this investment by partnering The Fairtrade Foundation through its strategic planning process over the next 16 months with a view to making a longer term investment at the end of the planning process. The support from Impetus is to include a comprehensive sector and stakeholder analysis. This leveraging of pro bono support from associates is central to the Impetus model of investment and adds significant value. For every pound from Impetus, it is estimated that at least two additional pounds are generated from pro bono expertise and co-investment for the portfolio charity.

Harriet Lamb, Executive director of The Fairtrade Foundation, comments: ?We are delighted to be entering this partnership with Impetus as part of the Fairtrade Foundation?s ambitions to scale up Fairtrade so that many millions more farmers and workers in developing countries can participate in this growing movement. We have huge opportunities – and challenges – before us and the additional operational and financial support Impetus will bring us are vital for the Fairtrade Foundation as it develops and implements bold new plans for the future?.

Stephen Dawson, Impetus Chairman, comments: ?The Fairtrade philosophy of using consumer power in the developed world to help reduce poverty in developing countries fits well with our own quest for sustainable solutions to social problems. Fairtrade is a huge success, with UK sales of Fairtrade products doubling every two years. The Fairtrade Foundation faces many of the issues that rapidly growing businesses face and we hope that by bringing in additional business expertise we can help with some of these.?

www.fairtrade.org.uk