2024: a vision takes shape
In 2024, the Trafigura Foundation accelerated the implementation of its new strategy and the pursuit of its vision of a world where individuals thrive and communities prosper in harmony with nature. With growing support from the Trafigura Group, the Foundation funded several new partnerships and strengthened its own capacity to advance climate adaptation around the world.
Advancing our strategy
Under the Foundation’s 2023–2027 strategy, the Foundation supports the creation of resilient communities and ecosystems through long‑term partnerships that drive systemic change. We do so by focusing on three interconnected areas of work: sustainable livelihoods, prepared communities and thriving nature.
Operating through partnerships and coalitions, the Foundation supports solutions that catalyse large-scale adaptation to the changing climate by empowering communities, championing ecosystem-based adaptation and supporting grassroots engagement and action.
The Foundation acts globally, with particular attention to the low- and middle-income countries of Africa, Asia and Latin America that are highly vulnerable to the impacts of climate change and least able to cope with them.
A portfolio of partners
Over the past year, the Board of Directors of the Trafigura Foundation approved eight new strategic partnerships, bringing to 14 the number of initiatives approved since the launch of our new strategy.
The Foundation selects programmes that are aligned with our strategic goals. We identify strong organisations, invite detailed proposals and – after a thorough review, due diligence and risk assessment – choose partners capable of delivering significant impacts effectively and efficiently.
While most of our partnerships foresee grant support for a period of at least three years, the Foundation has also made a smaller number of discretionary grants in response to disasters.
Detailed accounts of how our partners’ work on the ground is enabling people and communities to reduce growing risks from climate change and improve their lives and livelihoods are provided in the following sections of the report.
A team in action
The Foundation’s partnerships go beyond the simple provision of grants and the submission of progress reports. Our support is tied to building strong relationships with partners that allow for the co-design of programmes and mutual learning.
In 2024, our programme managers travelled to Tanzania, East Africa, Colombia, and Mongolia to witness partner activities for themselves and to speak to implementers of the programmes, as well as people who benefit from them, about their achievements and the challenges they face.
Insights from field trips flow into our future programming as part of a continuous learning process that includes the development of new skills and deeper and wider collaboration with other organisations. In 2024, for instance, the Management Team completed a 70-hour immersive course
on impact investing, as part of the Foundation’s efforts to leverage the potential of blended finance in climate adaptation finance.
To engage with stakeholders and strengthen our networks, the Foundation joined a global call to action on climate adaptation. Staff members also took active part in international gatherings including New York Climate Week, the UN Biodiversity Conference, and the Latimpacto’s annual conference.
Our approach
We partner with organisations driving impact on climate resilience and committed to collaboration. Together, we scale solutions for people and nature while unlocking additional funding. Our long-term partnerships evolve over multiple cycles, building momentum for lasting change.
Dario Soto Abril
Executive Director
Telling the story
The Foundation’s strategic repositioning in 2024 toward climate adaptation has raised our public profile. Under a new communication strategy, we introduced a refreshed visual identity, including a new logo and a revamped website.
As a result of our increased activity on social media platforms, more people are becoming aware of the Foundation and its activities.
We have also increased our presence in events such as New York Climate Week and the Biodiversity COP in Colombia, where we brought together nonprofits, philanthropies, and community leaders to discuss topics related to the future of food, the role of philanthropies in climate adaptation, and ways to collaborate effectively on resilience.
We have also kept Trafigura Group employees closely informed about the Foundation’s activities and deployed a part of our resources in support of their own charitable activities, including providing disaster relief, as described later in this report.
The Foundation co-organised a high-level funders roundtable with Clim-Eat, bringing together leaders from business, philanthropy, and the food & environmental sectors. The event featured Carlos Alvarado Quesada, former President of Costa Rica, and focused on actionable strategies for transforming global food systems and driving climate action. (From left to right: Dhanush Dinesh, Founder of Clim-Eat; Carlos Alvarado Quesada; and Dario Soto Abril, Executive Director of the Trafigura Foundation).
Growing support
The growth of the Foundation and the strengthening of its activities and impacts is only possible thanks to the Trafigura Group’s commitment to support sustainable prosperity around the world. In 2024, the Foundation budget increased by 50 percent to USD 15 million from USD 10 million in 2023, with further increases projected by 2027.
Beyond funding, the Group’s support includes the time and expertise of its executives and its staff around the world. Their involvement has helped lift the Foundation’s policies and procedures to a level of excellence that aligns with the company and top global philanthropies.
We are proud to complement the company’s investments in carbon solutions and the energy transition by working to protect and strengthen livelihoods and the natural resources that underpin our prosperity and well-being.
