The Foundation assists Lundin Petroleum in fulfilling its commitments under the UN Global Compact and Sustainable Development Goals through impact investments. These investments seed and develop viable solutions to support the transition to a low-carbon economy, protect our oceans and build inclusive communities.
In recent years, the Foundation has been growing its impact investment portfolio in Norway and Sweden, through direct investments into high-potential start-ups and strengthening the regional ecosystem of social and environmental entrepreneurship. We recently closed direct investments into TRINE, a Swedish financing company focused on providing value-chain financing to renewable energy companies. We also closed an equity investment into Evoy – a Norwegian electric boat motor company that aims to achieve zero-emissions for commercial boats along the Norwegian coastline and beyond.
Strengthening Regional Impact Investing Ecosystem
The Foundation has provided cornerstone funding to three unique incubator programs in the region. This includes the launch of the Arctic Accelerator to help young entrepreneurs in northern Norway develop businesses involved in renewable energy, energy efficiency and the sustainable use of natural resources. An incubator program, such as CHARGE, focused on promoting opportunities that foster inclusivity supporting first-generation immigrant entrepreneurs in Norway. Alumni businesses have gone on to secure third-party funding and win national social entrepreneurship awards. We also invested in Katapult Ocean Accelerator and Impact Fund, an initiative co-founded with WWF Norway to support early-stage, sustainability-focused ocean technology companies.
Business incubator program supporting youth entrepreneurs with early stage business ideas
Impact Investment in start-up company launched through Arctic Accelerator
Business incubator program supporting first generation immigrant entrepreneurs
Business incubator program helping newcomer and refugee entrepreneurs
Accelerator and seed investment fund focusing on protecting the oceans
UN Sustainable Development Goals
Our initiatives strive to improve people's lives and protect the planet and are in support of the following UN SDGs: