The Shell Foundation is an initiative of the oil majorRoyal Dutch Shell. Launched in1997, it is a worldwide, social investment initiative to concentrate on working with external partners to promote sustainable development . It is an independent registered charity which has three Shell executives on its board balanced by an equal number of independent non-executive directors, in line with UK Charity Commission rules.
In 2000 Shell formalised the foundation by creating an income stream based on a notional capital set aside of $250m (£133m). This notional allocation is managed on the charity's behalf by independent advisers but the capital cannot be drawn upon until 2010. The Shell Foundation draws upon its links with Shell to "harness the knowledge, leverage and convening power of Shell companies in ways that add real and transparent value to achieving the charitable objectives of the Shell Foundation.”
In South Africa and Uganda, The Shell Foundation has facilitated the formation of partnerships that help small local businesses to enter the energy services market on a financially viable basis which allows them to serve the needs of the impoverished. The Shell Foundation claims on its website that it is also "Bringing down the number of deaths caused by indoor air pollution; Easing the traffic congestion and pollution clogging up developing country mega-cities and; Giving developing-country producers improved access to world markets." ... Read More