The foundation, which works to improve the lives of poor farmers in developing countries by promoting fairer forms of trade, will become Impetus’s eighth partner since its foundation in 2002. It will receive support in its strategic planning process over the next 16 months, with a view to Impetus making a longer-term investment at the end of that term.
Impetus chairman Stephen Dawson said: “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.”
The foundation will also receive a free, comprehensive sector and stakeholder analysis, undertaken by OC&C Strategy Consultants. Impetus estimates that for every pound it invests in its charity partners, at least two pounds are generated from such pro bono expertise and co-investment.
Fairtrade Foundation executive director Harriet Lamb said she hoped Impetus’s help would help fulfil her ambitions to scale up the business.
“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,” she said.
Impetus’s existing charity partners are Beating Eating Disorders, learning disabilities charity Speaking Up!, ex-offenders’ charity St Giles Trust, young people’s conflict resolution charity Leap, BME sexual health charity NAZ Project London, skills development charity the Keyfund Federation, African AIDS and poverty relief charity Camfed.
It has recently heard that it will receive funding from the Private Equity Foundation, the new charity created by European private equity firms.