Since 2013, the Carlsberg Foundation has been a member of the European Foundation Centre (EFC), an international non-profit organisation that represents the interests of philanthropic foundations. EFC members are mostly large European foundations. There are currently more than 240 direct and associated members, including a number of Danish foundations. EFC has a special Research Forum for research foundations that provides an excellent platform for collaboration and experience sharing. EFC’s vision is a visible and transparent philanthropic sector in which the various stakeholders collaborate effectively with one another. The organisation’s mission is therefore to act as a neutral partner for those wishing to strengthen the European philanthropic sector. EFC’s values are respect, openness, innovation and integrity. In 2014, EFC’s members adopted a revised set of Principles of Good Practice for its member foundations. The Carlsberg Foundation supports these principles and, in compliance with the principles, continuously implements initiatives to create greater transparency and strengthen the Foundation’s governance. Principles of Good Practice The principles cover four key areas: 1. Independent Governance The foundation has an identifiable and independent decision-making body which acts with high ethical standards and whose members are nominated in accordance with established principles and procedures. 2. Sound Management The foundation promotes effective and prudent management as well as sustainable investment strategies, while ensuring the best use of resources for the public benefit. 3. Transparency The foundation communicates the remit, goals and results of its work in a comprehensive and digestible manner, holding transparency at the core of all activities. 4. Accountability The foundation acts in a responsible and collaborative manner by accounting for its actions to stakeholders, and by being active in sharing its knowledge and experiences.