Gunvor Foundation views controls as essential to providing grants and financial support to international programs to ensure accountability, transparency, and compliance with legal and ethical standards. They help verify that funds are used as intended, align with strategic objectives, and deliver measurable impact. Controls also mitigate risks such as fraud, mismanagement, or diversion of resources, particularly in complex, cross-border environments. They foster trust among donors, partners, and stakeholders, reinforcing the Foundation’s credibility. Additionally, well-designed controls support informed decision-making, efficient operations, and continuous improvement, enabling the foundation to fulfil its mission effectively and sustainably across diverse global contexts.
Compliance Process
Gunvor Foundation adheres strictly to all applicable international rules and regulations relating to charitable giving, including international economic sanctions.
Prior to consideration, all organizations go through Know-Your-Customer checks, which include review of the organisation, its management, and its governance. As relevant, additional checks are carried out by experts in anti-bribery and corruption (ABC), anti-money laundering (AML), and sanctions compliance.
The Foundation will also take into consideration such factors as the program expense ratio, length of service, country of registration, and locations of activities.
While the Foundation does provide emergency aid in the case of disaster relief or humanitarian crisis, no exceptions are made regarding this process for the sake of timeliness.
Due diligence findings are reviewed by the Foundation’s Committee, which assesses alignment with strategic priorities, risk exposure, and compliance before any funding decisions are made.
Grant agreements include clear terms on fund usage, reporting, and audit rights, ensuring recipients remain accountable and funds are used as intended.
Ongoing monitoring evaluates program delivery and financial stewardship, with periodic reviews and follow-ups conducted to confirm continued compliance and impact throughout the grant lifecycle.
Approximately 20% of funds are allocated to Switzerland-based initiatives
Conflicts of Interest
Every program considered for support by Gunvor Foundation is vetted for potential conflicts of interest that may be related to Gunvor Group’s business activities. Gunvor Foundation will not provide funding for organizations or individuals that may appear to overlap with any of the Group’s commercial operations, even to the extent to which the Foundation limits the countries in which it operates.
In addition, the Foundation’s activities are not intended in any way to off-set or overlap with the Group’s corporate sustainability program. Environmental partnerships, in particular, are selected solely based on their suitability to the Foundation’s criteria and mission.
The Foundation does not discriminate in its selection of initiatives based on race, gender identity, or sexual orientation, nor does the Foundation promote or support religious or political causes.
Reporting
Gunvor Foundation (“Fondation Gunvor”) was established as a registered charitable organization in Geneva, Switzerland in 2018 to formalize the various philanthropic activities of Gunvor Group, which has been active in giving since its founding in 2000. Gunvor Foundation operates independently from Gunvor Group. The Foundation is overseen by the Swiss Federal Department of Home Affairs (le Département fédéral de l’intérieur), which is supplied with audited annual reports of the Foundation’s activities. Figest Conseil SA serves as independent auditors.
The Foundation aims to achieve a meaningful impact on a local level, in which individuals are empowered or enabled to contribute positively to the community in which they live. Each initiative has its own metrics by which “success” is achieved. Benchmarks and metrics are formulated to show how each program has created a “positive practical change”. Annual reporting is required of the organizations supported by the Foundation, which also conducts site audits of programs.
The Foundation does not seek to benefit from the promotion or publicity of its work and therefore limits public reporting related to supported programs. Case studies on this website have been selected to demonstrate the type of organizations and programs Gunvor Foundation seeks to partner with. More information is available to partners and inquiring organizations during the selection review process.