Since 2013, the Carlsberg Foundation has been a member of the European Foundation Centre (EFC), an international non-profit organisation that hat represents the interests of institutional philanthropists, which refers to foundations, corporate funders and other players that have their own financial resources which they deploy strategically, are independently governed, and use private resources for public good. EFC members are from all over the world, but mostly Europe. EFC has a special Research Forum for research funding foundations that provides an excellent platform for collaboration and peer learning. The vision of EFC is to be the voice of institutional philanthropy in Europe by communicating to stakeholders the value of organised philanthropy and by helping to nurture an environment in which philanthropy can flourish. EFC seeks to serve as a hub of sector exchange and intelligence and to help members increase the impact of their added value in society. All EFC members must sign up to the EFC Principles of Good Practice, which promote the core values that every foundation should aspire to embrace. 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.