Nina Hoas of LGT (right) and Silvia Bastante de Unverhau (left) of LGT Philanthropy Advisory in Kenya, tree planting

Global annual philanthropy giving today is estimated at over $1tr. The world will see the largest intergenerational transfer of wealth in history by 2045, some $84tr being passed down in US alone. Next gen inheritors are finding purpose in their wealth, responding to urgent causes, and driving change ‘in my lifetime’. LUX Leaders & Philanthropists Editor Samantha Welsh speaks with Head of LGT Philanthropy Advisory, Nina Hoas, on strategies for enhancing impact through collaboration, leadership, innovation and doing good, well.

LUX: What made you decide on a career centred on addressing inequalities and social justice?

NINA HOAS: I am Swedish,  but when I was growing up my family moved and travelled around a lot, from Latin America to Asia, and I had the opportunity to live in places like Bangkok in Thailand where my family was for seven years. So I grew up in a family that was not afraid of being in different communities or sharing their experiences and being with different cultures. Every year from when I was one year old we would go to Kenya to stay with my godparents who lived in Nairobi and had a holiday home outside Mombasa. We would go to the Swedish school for a few weeks where my aunt was a teacher, and visit the nature conservation areas. Those experiences in Kenya really shaped my awareness of the socio-economic contrasts to my own home in Sweden as well as of course nature and biodiversity.

Preserving and replanting mangroves, which store carbon, preserve coastlines and act as biodiversity incubators, is important to many next generation philanthropists

LUX: What did that perspective teach you about privilege and shape your ambition?

NH: That holiday home outside of Mombasa was a different world to Sweden, with the housekeepers Kasongo and Yomo living a long bike ride away, in a mud hut, in a tiny village with no running water or electricity. Every year our family would visit and see their kids growing up. Back in the day we only thought in terms of charitable giving, not the empowerment approach we promote today. Donating clothes and food to their extended family was my first real experience of doing good. Schooling and education was not taken for granted for these children either, and all those experiences formed my career path. My godparents lived in Nairobi and were part of the United Nations (UN) community there, so I knew quite a bit about the UN and decided that was what I wanted to do. I therefore studied political science, and received a scholarship by SIDA, Sweden’s development agency, to make a MinorField Study in a refugee camp in West Africa for my Master’s degree. But already before University, I had interned in Kenya with an NGO and UNICEF which coupled with my studies set me on the path to a UN career.

LUX: What for you is ‘doing good, well’?

NS: Strategic philanthropy advisory at LGT is about encouraging more and better philanthropy. We share our network of experts and change-makers, provide platforms where philanthropists can come together, connect and learn from each other with the aim to help them embark on the philanthropy journey in a more strategic way. Strategic philanthropy is about the long term impact your wealth can have.

LUX: What is the approach to wealth in strategic philanthropy?

NH: The relationship managers in our office, together with family advisors, have conversations with clients around the elements of wealth as the starting point. How their wealth was created, how it is invested, how it is spent, how it is given and how wealth is governed and passed on. Every time there is a financial transaction there is an opportunity to have a positive impact. It is about how family values are passed on with the wealth and how these values are reflected in the philanthropic activities.

Rainforests are a carbon sink and produce life-giving oxygen; they are also essential for the maintenance of the earth’s biodiversity, which is inextricably linked to the planet’s habitability and sustainability as outlined by the United Nations Sustainable Development Goals (SDGs)

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LUX: Has your network been affected by the women social investment entrepreneurs’ (SIE) phenomenal growth globally, also why are they so successful in scaling?

NH: We usually talk about seven trends and right now next generation funders and specifically women funders is a significant one within those. Looking at our philanthropy network, we have a lot of women philanthropists we are working with and we noticed that for them it is not only about giving. They are keen to have a strategic approach to their philanthropy and ensure impact. Women drive a lot of the development and community. As a woman, I hence see it as not only the right thing to do, but also economically efficient to focus on the women in communities.

LUX: How far is technology influencing next gen investing strategies?

NH: Technology is very important, especially in scaling various invtiatives, which our Guide to Strategic Philanthropy we co-wrote with Pi covers this in one chapter. Though we increasingly see foundations start asking for technology and even AI and they want it because they understand they can grow and deliver faster services. On the approaches towards social good, the giving is one part, but it does not matter what the methodologies are that you are using, whether through impact bonds, mezzanine funding or partly impact investing or pure giving, whichever, you have a social goal and there are many approaches. We notice some entrepreneurs are very successful in using technology and are very often the ones that also want to adopt or adapt their skills and their experience to do good and they’re using that space.

LUX: Has ‘giving while living’ and philanthropy within a limited time frame created volatility and been disruptive?

NH: With next generation wealth holders in particular, they may have created a structure but want to show they are putting a time frame on it to clarify to donors, to family members and peers that if, for example, it is an endowment then they would spend down within 20 to 30 years. They are still relatively young, in the middle of their careers, and embarking on their philanthropic journey, and they want to act right now on the urgent issues, well before those issues worsen. They also feel strongly and passionately that they want to enjoy doing it in their lifetime and not leave the responsibility to another after their death.

Read more: Terre Blanche: The luxury resort pioneering sustainability

Recent research shows that forests are not just collections of distinct flora and fauna; they vast interlinked collective ecosystems which communicate with each other, and underpin sustainable development

LUX: What does inherited wealth mean to next gen U/HNWIs?

NH: LGT’s newest study is about wealth and about what wealth can do. We are asking only next generation wealth holders, the inheritors not the wealth creators (though some are both). Wealth needs to come with purpose. It is very hard for some of them inheriting and by being rich they do not want to feel poor. They want to separate themselves from their net worth and to have self worth. They want to use their wealth in a catalytic way to do good. They bring purpose to their own life if they can use their wealth through investment for a purpose to empower others. For example, one of our women philanthropists is working in communities in a few developing countries to empower women. In one community, she is reaching around 10,000 women and while they know the funds are coming from a specific foundation, they do not know that the founder is out there in person in the field alongside them as technical support; she remains anonymous to avoid the donor dynamic as she wants to be out there, able to hear if something is not right. She is caring for there to be a good systemic change on the ground and is concerned she will not get truthful feedback because the community will fear the funds will dry up if the project is not going right. She really wants to know what is going wrong so she can learn from mistakes, improve it and change it.

LUX: How does peer-to-peer collaboration help your clients?

NH: This is where strategic advisory comes in as well the connection to other philanthropic leaders. Our clients want to meet others who are focused on similar issues because they want to maximise impact and to collaborate to achieve that. Philanthropists can feel isolated so our purpose is also to connect philanthropists with one another, introduce them to others working in the same area, in order to learn and potentially to partner and to add value. This works well for example in the area of biodiversity and nature. We advise around 50 individuals that are focusing specifically on scaling conservation and nature-based solutions. In this context we took a group to the Massai Mara, which is one of the key initiatives of LGT Venture Philanthropy – the independent charitable foundation established by LGT Group Foundation and founded in line with the vision and values of the Liechtenstein Princely Family. The Princely Family’s long-term vision and commitment to sustainability are deeply rooted in LGT’s corporate culture, and they are very happy to collaborate with others also in philanthropy and impact investments.

www.lgt.com

Stockholm is undergoing a quiet gastronomic revolution in an understated Swedish style. Francesca Peak selects the coolest places to taste crisp-bread, cinnamon buns, sushi, salad and reindeer.

Sturehof

Sturehof was rated by Monocle as one of the 50 best restaurants in the world.

This fashionable hangout just off the main shopping street is the result of an affair between classic Swedish plates and homestyle French cooking. Red and white gingham tablecloths, a bustling, but intimate vibe and a lengthy menu all hint to the comforting meal ahead. Cocktails are top-notch and there’s a generous wine list to keep you busy after you’ve perused the fish-heavy menu (to choose meat here is a sin). Choose a typical Swedish starter of herring and cheese, or indulge in the fresh seafood platter, before moving on to the poached turbot or salted cod. The liquorice crisp-bread is dangerously addictive.

sturehof.com

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Café Saturnus

When you arrive at a small cafe off a fairly nondescript street and see a queue at 8.30am on a Saturday, you know you’ve picked a good spot. Tear your eyes from the mesmerising mosaic floor to the kitchen and you’ll see huge breakfast burritos and bowls of steaming porridge being rushed onto tables, along with the heady smell of fresh, rich coffee. However, it’s the buns that are the real star of the show: enormous cardamon and cinnamon buns are stacked at the front of the counter, tempting you as you place your order for a chia bowl and skinny latte. Give in to temptation: they’re packed with flavour and will keep you full until you’re craving another mid-afternoon.

cafesaturnus.se

Hantverket

Restaurant Hantverket overlooks Stockholm’s beautiful park, Humlegården

A short 10-minute walk from the bustling Stureplan is Hantverket, the city’s newest self-aware cool place – thankfully without a snotty attitude – to enjoy a bite while spotting the latest trends on young Stockholmers. Although the entrance leads you straight into the restaurant, veer left to the bar and enjoy a perfectly crafted martini while perusing the rather succinct dinner menu. What they lack in length they make up for with innovation: try the duck with blueberries and rose petals for a more fragrant take on the typically heavy bird, and be sure to try a locally-sourced slab of reindeer.

restauranghantverket.se

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Vete-Katten

Selection of buns and pastries at Vete Katten

Stockholm institutions don’t get much sweeter than this. Founded in 1928 by the determined Ester Nordhammar, the patisserie serves freshly baked treats and bread, and the most indulgent hot chocolate the city has to offer. Pop in to grab a baguette and coffee or venture behind the glass counter and into the traditional house with its tables tucked away into secret corners and adorable design details. Like stepping into a grandmother’s cottage, the smell of baking draws you in, and before you know it, you’re sitting at a table with a blueberry bun and pot of tea. Some places just have that effect, and this is certainly one of them.

vetekatten.se

East

East’s cool, sleek interiors are inspired by contemporary Japanese culture

When you’re in a country famed for its minimalist designs, it seems only natural to look to a cuisine loved for its simplicity and neatness. Sweden, meet Japan. The sushi-heavy menu here is dotted with Asian favourites, from curries to noodles and dumplings, with the odd ceviche thrown in for good measure. Every dish packs a punch, whether in its subtle flavours or the spiciness of its chilli flakes, and all are brought to your table sharing-style with scary efficiency. Go for a sushi platter at lunch and while away the afternoon with a carafe of warm sake.

east.se

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Doctor Salad

Doctor Salad uses 100% organic ingredients. Above: two boxes of “a vegan délice” with glasses of fresh mint water

The very thought of going out for a salad may strike fear into the hearts of some, but there’s no chance you’ll leave Doctor Salad with a rumbling tummy. Served in huge boxes with optional protein on the side, vegetables are spiralised, dressed and chopped to delicious perfection, and each box is a mesmerising kaleidoscope of health. Pair your box with a soup and pile of homemade flaxseed crisp-bread and have a seat in their kitsch but tiny cafe, watching the world go by.

doctorsalad.net

SWEDEN IS CELEBRATING ITS OWN, UNIQUE GASTRONOMIC CULTURE LIKE NEVER BEFORE, AS Caroline Davies DISCOVERS ON A TOUR OF THE CAPITAL

Sweden is going back to its own. No longer satisfied with following the dictates of the French, the demands of the Spanish, the inventions of the Americans, Swedes are making a stand. Organic, traditional, simple, smoked, foraged and served, the Swedish food movement is embracing its homegrown tastes and getting its hands dirty. In more than one way, they are going back to their roots.

My visit to Sweden starts in twilight, at 3pm in the afternoon on a winter’s day. By the time my friend Rory, a discerning foodie, and I arrive in the city known as the “Venice of the North”, night has fallen. We bumble our way through the old town streets of Gamla stan, pausing to take in the view across the lakes, ornate pristine facades and street lights reflected in the water, or to peer past the curtained covered windows of cafes promising bowls of hot chocolate.

At the unlikely location of a motorway junction, we find our first stop. Strömmingvagnen, the herring stand, is the Swedish equivalent of a burger van. For over 20 years, the small trailer under a large golden fish has served herring in different forms to late night snackers and adventurous tourists. Ravenous from the journey, we examine the faded images displayed behind the counter and opt for rye bread, gravalax, dill and herring. Warm, gooey, salty and sweet, it is impossible to eat neatly and without noises of appreciation. Hands still a little sticky, we head for our hotel.

Hotel Rival, owned in part by Benny Andersson of Abba fame, is a converted cinema. The huge theatre, filled with 700 red velvet covered seats, is still used for screenings – Abba, the movie was premiered here – theatre productions and comedy nights. On performance evenings the foyer and bar are lively and the hotel has more spirit than most. Swedes love their coffee shops, a welcome escape from the winds that whip across the waterways, and Hotel Rival’s cosy art house style cafe tucked in the corner is a good spot to grab something smothered in cinnamon.

Each room is decorated with a wall sized print of a famous golden moment in cinematic history, a teddy bear and, of course, an Abba “The Greatest Hits” Album. Unsurprisingly, the sound system is not only crystal clear, but available in a variety of guises. If you haven’t had enough after singing along to “Dancing Queen” in the shower, you can request a speakerphone pillow from the menu and allow Benny, Agnetha, Björn and Anni-Frid’s dulcet tones to sing you to sleep. Buoyed by the burst of Swedish pop, we head out for our first taste of the food.

Volt is discreet. Situated on an elegant street in Ostermalmstorg we walk past it a couple of times before noticing that the clean framed front with elm branches in the window is the entrance. The decor – black carpet with white walls, the occasional pencil sketch hung on the wall – sounds stark, but is surprisingly relaxing, even comforting. Perhaps it is the quiet friendliness of the staff, who are so closely involved in the restaurant they pick everything from the art on the walls to the berries used in the tea at the end of your meal, that makes the restaurant feel familiar. Their music choices, which sounds as though they should be the soundtrack to an indie film, mummer in the background. Brass pipes cross geometrically along the walls with the occasional tap, used to refill the jugs with icy cool water.

The six course tasting menu, paired carefully with wine from Germany and France, focus on in season ingredients. Plates are balanced, but flavoursome with interesting pairings; smoky tinges are encouraged but not dominant, berries present but used sparingly. The Normandy cider, made only from fallen apples from a Michelin starred producer was a confident match with the cheese plate from local farms. With understanding and careful delivery, the menu wins even initial sceptics round.

“This place is one gravedigger short of Elsinore.” Rory says as we wander the isolated path towards the nursery gardens in Djurgården.

There is something Hamlet-esque about the Rosendals Trädgård in winter. Black mud sucks in the green tendrils of the grass and stains the solid grey boulders, silver birches hold cawing ravens. The bright light of daytime cuts the outlines of the surroundings into clear focus, so that we can see a horse drawn cart dragging its way through the mud in the distance with distinct clarity. We come across an art installation, the words “this is the corner of a larger field” written in swirling handwriting, created in white wire 10ft long, its stand planted solidly in the marshy ground giving the impression that it has been scrawled across the landscape.

The gardens are in the stately home of Rosendal palace. An organic haven, they grow seasonal produce for local restaurants and their own cafe, an expansive, steamy greenhouse with painted blue picnic benches laden with plates of Swedish biscuits and rosehip tea. In summer the gardens are full, but in the colder months, the cafe is filled with dog walkers and knowledgeable foodies. It is a curiosity, not quite bleak and not quite twee. We wander the garden’s paths past artistic bamboo structures and carefully pruned topiary to find a locked greenhouse, empty but for a leaf strewn dinner table, decorated for a dinner party that never came or is perhaps yet to arrive.

Henrik Norström is viewed as the pioneer of the Swedish food movement. Formerly a chef at a Michelin starred restaurant in central Stockholm specialising in French and Spanish cuisine, Norström decided that he was tired of meals dominated by flavours from other countries. He wanted his dishes local. In 2003, he opened Lux, a converted staff canteen for the Electrolux company, overlooking the lake on the small island of Lila Essingen. In 2004, they won a Michelin star.

“From here you can see the changes in the season,” he says. “If you have a restaurant in the city you have your four walls and you cannot see if it’s summer, winter, autumn or spring.”

Even a trained eye might find it difficult to spot the distinction between each of Norström seasons; there are 16. He is an innovator in tune with his subject.

“If you came back here this time next year there would be different items on the menu,” he says. “I use the same produce, but I never go back and use old dishes.”

Over the past decade Norström has developed a relationship with each of his suppliers, be they the fisherman, apple growers or reindeer farmers in the northern reaches of Sweden. Not unlike its owner, the restaurant is elegant and understated; the focus is on the food and a lifestyle, not brash gimmicks.

Back in central Stockholm, Swedish restaurants are fast becoming a la mode. With the food’s hunter gatherer ethos, some restaurants have adopted a macho edge. Ekstedt is bold. Red brick walls, black granite surfaces, bare light bulbs and a scorching fire behind wisely placed glass barrier, this is a hearty restaurant. Dishes are smoked, sizzled and grilled at the flame before being prepared by chefs in leather aprons at the central table and presented carefully on slate plates and wooden charred slats. The food is rich and creamy, the meat tender and the flavours strong. Butter soft reindeer meat, baked in ember and served with truffle proves a highlight, and their lemon ice cream with smoked almonds and salty caramel mixes textures well. The chef and creator behind it, Niklas Ekstedt, researched traditional methods to give his food the authentic Swedish edge; you can certainly imagine that their five-course tasting menu would sustain you through a long winter.

Full to the brim and as it is our final night in the city, we wrap up and meander through the old streets of Gamla stan past churches and narrow passages. Heading for home, we find ourselves in front of the big golden fish over the small trailer. We pause. There is always a little room left for herring.

Volt: restaurangvolt.se

Ekstedt: ekstedt.nu

The Rival Hotel: rival.se

Info: visitstockholm.com