Bernard Giraud is Danone’s Senior Sustainability Advisor and co-founder of the Livelihoods Fund, a mutual fund with Danone and other investors. He is also President of Livelihoods Venture. In his former position of Vice-President of Sustainability and Shared Value Creation of Danone, he developed an ambitious carbon reduction and offset policy. The Livelihoods Fund has recently reached a new stage for which partners pledged to invest €120 million (£79m) over the next decade aimed at increasing the productivity of smallholder farmers.