The elea Foundation is active, first investments closed

23 December 2008

After careful planning and preparation and based on numerous contacts and discussions, the elea Foundation for Ethics in Globalization with a small but select team has begun to invest in entrepreneurially managed initiatives that offer new opportunities for people living on less than USD 2 a day.

One of these projects is Mad’Eole, the vision of a wind energy center in the north of Madagascar. Here, elea is supporting a social entrepreneur in his plan to provide a region comprising 15 villages with electricity derived from wind turbines. In addition to supplying clean, renewable energy this will foster sustainable economic and social development. Another is a partnership with Fonjak, an organization in southern Cameroon through which elea is helping local farmers to enhance their value creation through improved, ecological products, more efficient production, as well as independent commercialization.

With these, as with other project ideas the elea team is investigating in selected countries in Africa, Asia and Latin America, it is guided by the ambition to combine entrepreneurial energy, promising ideas and capital together with partners, in order to improve the quality of life in poor regions for as many people as possible. Beyond this the elea Foundation is exploring ways to raise awareness of the opportunities presented by the globalization. As an example, elea is working in a partnership with the World Microfinance Forum Geneva, an international platform for dialogue about experiences and new ideas in the field of inclusive finance. Furthermore the elea Foundation in cooperation with the Göhner Foundation provides the initial funding for a postgraduate program in economics and business administration for politicians at the Executive School of the University of St. Gallen (HSG).

The Chairman of the Board of Trustees, Peter Wuffli, looks with satisfaction at a positive start of elea: «In a packed, exciting and instructive year the elea team convincingly laid firm foundations for the further development of our Foundation.»

The elea Foundation wants to achieve sustainable, positive and tangible impact to the direct benefit of people challenged by the globalization process. It will target the poor at the base of the pyramid through entrepreneurial philanthropic projects that align ideas with capital.

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