Grant and Funding Programs Offered by Lundin Foundation

Lundin Foundation is a Canadian non-profit corporate foundation founded in 2006 by Lukas Lundin to ensure that resource development generates lasting positive outcomes for nearby communities. Supported by contributions from the Lundin Group of Companies, it blends philanthropy, strategic grants and impact investing to mobilize local economic opportunities in countries where Lundin companies operate in Africa, Latin America, Scandinavia, North America and beyond.

The Foundation’s mandate is to advance sustainability and ESG performance while catalyzing inclusive economic growth. It develops and co-finances community investment programs in four main practice areas: education and skills training, local supplier development, economic diversification, and social and environmental innovation. These initiatives often combine technical assistance, capacity building and flexible financing to enable small businesses, cooperatives, entrepreneurs and workers to thrive alongside mining, oil and gas or other resource projects.

Historically, the Foundation has supported grant-based initiatives and built a portfolio of impact investments, including anchor investments in SME and agricultural funds in Central and West Africa, as well as direct investments in enterprises such as micro-leasing and pay-as-you-go renewable energy providers. More recently, its role has evolved into a corporate foundation that both advises Lundin companies on ESG and deploys funding into community programs.

Funding takes several forms: strategic grants to community partners and institutions, program funding for training and entrepreneurship initiatives, and catalytic impact investments that unlock additional capital. The Community Impact portfolio demonstrates tangible financial outcomes such as millions of dollars in revenue and household income generated for participating businesses and cooperatives, supply contracts with Lundin companies, and wages for graduates of training programs.

The Foundation primarily serves communities located near Lundin Group operations. Within these communities, it targets local SMEs and suppliers, farmers and cooperatives, early-stage and social entrepreneurs, women-led enterprises, youth and workers seeking skills upgrading. Sectorally, its work spans access to energy, agriculture, financial inclusion, small-scale industry and services that diversify economies away from single-resource dependence.

In parallel, Lundin Foundation provides sustainability expertise to Lundin companies through services in community development, social performance, climate change, reporting and standards, and sustainability strategy. While these advisory services are not grant programs, they help align corporate investments with global best practices and increase the effectiveness of community funding.

Recent years illustrate the scale of Lundin Foundation’s financial commitments. In 2021 it committed approximately $4.9M to 19 initiatives in 10 countries; in 2022 it invested $5.3M US in 18 community programs across six countries; and in 2023 it invested around USD $5M in 17 initiatives supporting local economic development. These programs enabled participating businesses, farmers and cooperatives to generate tens of millions of dollars in revenue and significant household income, while engaging hundreds of community members, often with a strong participation of women.

The Foundation’s long-term approach and focus on measurable outcomes have earned it recognition such as the PDAC 2023 Sustainability Award and various UN Global Compact SDG awards linked to programs it has co-delivered with Lundin companies.

Although specific application procedures are not detailed on the pages provided, Lundin Foundation operates as a discretionary grantmaker and impact investor, usually in close partnership with Lundin Group companies and local stakeholders. Program design appears to be driven by joint goal-setting with communities, assessment of local market gaps, and an emphasis on capacity building, climate resilience, inclusion and innovation.

Through annual reporting of key achievements, financial commitments, beneficiaries reached and training hours delivered, the Foundation provides a degree of transparency about its funding portfolio and global footprint, positioning it as a notable actor in community-focused, resource-linked development finance.