As investors and entrepreneurs, the members of Parmenion Group in general and Parmenion Ethical in particular cherish an ethical business approach. Whenever entering a deal, we keep in mind the old adage ‘Would you still think it is a good transaction for parties involved if you would be the counterparty and your partner in the deal would be you?’.
On top of that, one of Parmenion Group’s three main Group investment themes is ‘Sustainability’ (the other two being ‘Changing World’ and ‘New Finance’).
It should therefore not come as a surprise that Parmenion Ethical has decided to participate as co-founder in a newly-created charity whose mission statement and main goals link directly to all three of our Group’s main investment themes. This Netherlands-based foundation is called ‘Triple F Foundation’.
Parmenion Group in general and Parmenion Ethical in particular felt that good, ethical and sustainable economic decision taking in countries, companies and even the private lives of the economic actors involved in these decisions requires a non-simplified incorporation of the more rational (Neo-Classical) aspects of it. Complex decision taking should not be reduced to mechanical solutions, because behavioral and psychological factors play an equally important role.
Triple F Foundation wants to help improve (economic) decision taking through education, knowledge transfer and related initiatives that help integrate the two sub-sets of factors and processes in such a way that IQ, EQ and ethics all get sufficient attention and work together in taking the best decisions
Themes and Focus Areas
Under the guidance of the founders all Group companies work together on a set of projects covering our main investment themes (‘Sustainability’, ‘New Finance’ and ‘Changing World’) on the one hand and three different focus areas on the other. These focus areas are ‘Emerging (and Frontier) Countries’, ‘Emerging Entrepreneurs’ and ‘Diversity’ with the latter stressing that women are a kind of ‘Emerging Gender’ in business, politics, science and education across the globe.
‘Sustainability’ is not just a core theme within Parmenion Group’s investment policy. We believe that our definition of ‘Fairness’ should also incorporate the responsibility to help transition into a low carbon economy, so that we leave a sufficient amount of resources for future generations.
Emerging (and Frontier) Countries
With respect to the focus area ‘Emerging (and Frontier) Countries’, we support applied educational initiatives in the poorer countries on this planet. Educational initiatives that improve a) the calculus and rational thinking skills of primary school students and b) the quality of (post)-graduate courses. Special attention will be given to courses in Economics, Business Management, Finance and Investments.
Within the focus area ‘Emerging Entrepreneurs’ we support entrepreneurial talents in Europe who want to embrace ‘Sustainability’, ‘Fairness’ and ‘New Finance’ as important corporate themes in their activities. We start in the Old Continent for three reasons:
- we do not want to spread our attention too thin;
- because of our belief that laws, rules and regulations in Europe provide some level of additional certainty with respect to feasibility of our new initiatives, and
- through our active involvement as investors/shareholders in European small- and mid-sized private companies – through the Fair Finance Fund Europe – we do have here a fantastic ‘on the job’, real-life possibility for direct knowledge transfer from our experienced specialists to these entrepreneurial talents.
Expansion into other areas across the globe is possible at a later stage.
Last but not least, we support global initiatives through which the participation of women in society is promoted.
In all cases our support for the various initiatives and projects can either be financial, content-focused (e.g. through hands-on participation of Group companies or staff in them) or both.
Funding and Triple F Foundation’s Role as so-called Purification Vehicle
Triple F Foundation will get its funding from the founding companies and gifts. A special role in our funding is played by the Triple F Ethical Fund. This Fund will purify any income it received or generated via investment activities that did not qualify as ‘ethical’ ex-post. Triple F Foundation coordinates the Group’s purifications.
For more information about Triple F Foundation, visit its website.