The Legacy and Sustainability plan for the Paris 2024 Olympic and Paralympic Games — 107 SOCIAL INNOVATION THROUGH SPORT IN FRANCE THE PARIS 2024 ENDOWMENT FUND A TOOL TO RINGFENCE THE RESOURCES INVESTED IN LEGACY-RELATED PROJECTS In order to break down Paris 2024’s social • the budget of the organising committee, which and environmental ambitions operationally, contributes up to €50 million (some of which on 24 January 2019 the Board of Directors is transferred to the Paris 2024 endowment fund); of the organising committee approved • instruments and funding from stakeholders, the methods of funding and steering the Legacy which Paris 2024 can promote; and Sustainability strategy, as well as the creation • additional funding from Paris 2024’s partner of a special tool. After careful consideration, marketing companies. the Board of Directors decided to allocate a budget of €50 million exclusively for legacy-related In order to leverage these resources and break projects and create an endowment fund. down the Legacy and Sustainability strategy This decision helps to ringfence the resources operationally, the Paris 2024 endowment fund by opening up opportunities for Paris 2024’s was officially created on 27 June 2019. partner marketing companies to sponsor It is a platform for social innovation through projects as part of the Legacy and Sustainability sport that sets out to support projects that harness strategy, as well as formalise a collective sport to make a social impact. This tool and governance that closely binds the members the methodological approach it takes are designed of the Paris 2024 Board of Directors. to be passed on as a legacy after 2024. The budget allocated to legacy and sustainability The future of the endowment fund will be projects can therefore come from three sources: outlined in 2022.