{"id":322,"date":"2021-04-28T09:41:36","date_gmt":"2021-04-28T07:41:36","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=322"},"modified":"2023-09-04T10:48:03","modified_gmt":"2023-09-04T08:48:03","slug":"gender","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2020\/responsible-investor\/gender\/","title":{"rendered":"Gender equality"},"content":{"rendered":"\n<p class=\"has-ingress-font-size\" id=\"h-in-2020-norfund-s-new-gender-position-was-approved-by-the-board-of-directors\"><strong>Norfund is committed to promote gender equality, in our own organisation and in our portfolio companies.<\/strong><\/p>\n\n\n\n<p>Norfund was one of the first development finance institutions to develop a Gender Strategy in 2016. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-new-gender-position\"><strong>A new gender position<\/strong><\/h2>\n\n\n\n<p>In 2020, Norfund\u2019s new Gender Position was developed based on the previous strategy and consultations with internal and external stakeholders.&nbsp;Norfund reports annually on the Gender Position and the related action plan to the Board of Directors.<\/p>\n\n\n\n<div class=\"wp-block-norfund-fact-box\"><h3 class=\"norfund-fact-box__title\">Norfund\u2019s position on gender equality and women\u2019s economic empowerment has three objectives:<\/h3><div class=\"norfund-fact-box__content\">\n<ol type=\"1\"><li>To ensure equal opportunities and promote gender balance across all levels in Norfund<\/li><li>To promote equal opportunities for men and women across all levels in investee companies and through access to finance<\/li><li>To engage with relevant stakeholders to learn and where possible influence others to promote gender equality<\/li><\/ol>\n<\/div><\/div>\n\n\n\n<figure class=\"wp-block-image alignwide size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"507\" src=\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/06\/Marginpar.png\" alt=\"\" class=\"wp-image-4767\" srcset=\"https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/06\/Marginpar.png 1024w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/06\/Marginpar-300x149.png 300w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/06\/Marginpar-768x380.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Marginpar, Kenya<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gender-balance-in-norfund\">Gender balance in Norfund<\/h2>\n\n\n\n<p>Norfund recognises the importance of starting with our own organisation. We track the gender balance in our own organisation annually.<\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"h-status-2020\">Status 2020<\/h3>\n\n\n<script type=\"text\/javascript\">\n\ngoogle.charts.load(\"current\", {packages:['corechart']});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6aee30a25b446( 12, 6 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6aee30a25b446( 14, 14 );\n\t} );\n}\n\nfunction drawBarChartbar6aee30a25b446( customFontSizehAxis = 14, customFontSizevAxis = 14 ) {\n\tlet data = google.visualization.arrayToDataTable([['data','Women (%)','Men (%)'],['BoD',55,45],['Management',43,57],['Investment Committee',38,62],['Regional Offices',40,60],['Total Employees',46,54],['New Empoyees in 2020',47,53]]);\n\n\tlet view = new google.visualization.DataView(data);\n\n\t\n\tlet options = {\n\t\theight: 500,\n\t\tlegend: { position: 'bottom', alignment: 'end', maxLines: 3  },\n\t\tlegendTextStyle: { fontSize: 12, color: '#000' },\n\t\tbar: { groupWidth: '40%' },\n\t\tchartArea: {\n\t\t\ttop: '0',\n\t\t\tright: '0',\n\t\t\tbottom: '0',\n\t\t\tleft: '0',\n\t\t\twidth: '85%',\n\t\t\theight: '70%'\n\t\t},\n\t\twidth: '80%',\n\t\thAxis : {\n\t\t\ttextStyle : {\n\t\t\t\tfontSize: customFontSizehAxis,\n\t\t\t\tcolor: '#000'\n\t\t\t}\n\t\t},\n\t\tvAxis : {\n\t\t\ttextStyle : {\n\t\t\t\tfontSize: customFontSizevAxis,\n\t\t\t\tcolor: '#000'\n\t\t\t}\n\t\t},\n\t\tisStacked: true,\n\t\tcolors: [\"#375172\",\"#94CCC5\"],\n\t\tfontName: 'Merriweather Sans'\n\t};\n\n\tlet chart = new google.visualization.ColumnChart( \n\t\tdocument.getElementById( \"columnchart_values_bar6aee30a25b446\" )\n\t);\n\n\t\n\tchart.draw(view, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawBarChartbar6aee30a25b446( 12, 6 );\n\t} else {\n\t\tdrawBarChartbar6aee30a25b446( 14, 14 );\n\t}\n} );\n<\/script>\n\n\n<div class=\"chart-container wide\">\n\t<div id=\"columnchart_values_bar6aee30a25b446\" style=\"width:100%; height: 500px;\"><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gender-balance-in-norfund-s-portfolio-companies\">Gender balance in Norfund\u2019s portfolio companies<\/h2>\n\n\n\n<p>Each year, we collect gender-disaggregated data from all investees. This enables us to carry out gender analyses at investee and portfolio level, and helps us to create awareness, both internally and externally.<\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"h-status-2020-1\">Status 2020<\/h3>\n\n\n<script type=\"text\/javascript\">\n\ngoogle.charts.load(\"current\", {packages:['corechart']});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6aee30a25be82( 12, 6 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6aee30a25be82( 14, 14 );\n\t} );\n}\n\nfunction drawBarChartbar6aee30a25be82( customFontSizehAxis = 14, customFontSizevAxis = 14 ) {\n\tlet data = google.visualization.arrayToDataTable([['data','Women','Men'],['BoD',17,83],['Management',32,68],['Employees',34,66],['Smallholder farmers',42,58],['Loan Clients',84,16]]);\n\n\tlet view = new google.visualization.DataView(data);\n\n\t\n\tlet options = {\n\t\theight: 500,\n\t\tlegend: { position: 'bottom', alignment: 'end', maxLines: 3  },\n\t\tlegendTextStyle: { fontSize: 12, color: '#000' },\n\t\tbar: { groupWidth: '40%' },\n\t\tchartArea: {\n\t\t\ttop: '0',\n\t\t\tright: '0',\n\t\t\tbottom: '0',\n\t\t\tleft: '0',\n\t\t\twidth: '85%',\n\t\t\theight: '70%'\n\t\t},\n\t\twidth: '80%',\n\t\thAxis : {\n\t\t\ttextStyle : {\n\t\t\t\tfontSize: customFontSizehAxis,\n\t\t\t\tcolor: '#000'\n\t\t\t}\n\t\t},\n\t\tvAxis : {\n\t\t\ttextStyle : {\n\t\t\t\tfontSize: customFontSizevAxis,\n\t\t\t\tcolor: '#000'\n\t\t\t}\n\t\t},\n\t\tisStacked: true,\n\t\tcolors: [\"#375172\",\"#94CCC5\"],\n\t\tfontName: 'Merriweather Sans'\n\t};\n\n\tlet chart = new google.visualization.ColumnChart( \n\t\tdocument.getElementById( \"columnchart_values_bar6aee30a25be82\" )\n\t);\n\n\t\n\tchart.draw(view, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawBarChartbar6aee30a25be82( 12, 6 );\n\t} else {\n\t\tdrawBarChartbar6aee30a25be82( 14, 14 );\n\t}\n} );\n<\/script>\n\n\n<div class=\"chart-container wide\">\n\t<div id=\"columnchart_values_bar6aee30a25be82\" style=\"width:100%; height: 500px;\"><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-disproportional-impact-of-covid-19-on-women\">Disproportional impact of COVID-19 on women<\/h2>\n\n\n\n<p>Since the outbreak of the COVID-19 pandemic, the importance of promoting gender equality has increased. The pandemic has impacted women disproportionally, among others, through employment losses and decrease in labour force participation due to increased care burden (ILO).&nbsp;<\/p>\n\n\n\n<p>In 2020, the number of direct jobs held by females decreased by 1\u00a0700 jobs, or 2 per cent, within the Norfund\u2019s portfolio companies\u00a0(with two consecutive years of reporting)* . <\/p>\n\n\n\n<p><sub>* Includes investees directly in Norfund portfolio as well as investees through platforms and funds <\/sub><\/p>\n\n\n\n<div class=\"wp-block-teft-link-list\"><div class=\"teft-link-list__items\">\n<div class=\"wp-block-teft-link-list-item\"><a class=\"teft-link-list-item__holder\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/year-2020\/key-events\/covid-19\/\"><div class=\"teft-link-list-item__content\"><div class=\"teft-link-list-item__content-inner\"><div class=\"teft-link-list-item__content-wrapper\"><h3 class=\"teft-link-list-item__title\">Investing during a pandemic<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<figure class=\"wp-block-image alignwide size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-1024x576.jpg\" alt=\"\" class=\"wp-image-356\" srcset=\"https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-1024x576.jpg 1024w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-300x169.jpg 300w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-768x432.jpg 768w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-1536x864.jpg 1536w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/Equity-Bank-Mombasa-39-ID-299948-1-2048x1152.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Equity bank agent, Kenya<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-jobs-indirectly-supported-through-norfund-s-portfolio-companies\">Jobs indirectly supported through Norfund\u2019s portfolio companies<\/h2>\n\n\n\n<p>Literature suggests that direct employment is only a fraction of the indirect employment that is supported by an investment. Norfund applies the <a href=\"https:\/\/reports.norfund.no\/annualreport-2020\/joint-impact-model\/\">Joint Impact Model <\/a>(JIM) to estimate such indirect employment impacts supported through our portfolio companies, also dis-aggregated by gender. <\/p>\n\n\n\n<p>The indirect employment impacts are divided in backward effects, from local purchases and spending of wages, and enabled effects, from power produced and loans provided by banks and other financial institutions.<\/p>\n\n\n\n<p>The model is applied on a subset of Norfund\u2019s active portfolio by end of 2020, direct or through funds, for which sufficient data are available.<\/p>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<div class=\"wp-block-group alignwide has-gray-light-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-flow\">\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"h-jobs-indirectly-supported\">Jobs indirectly supported <\/h2>\n\n\n\n<div class=\"wp-block-norfund-key-figures alignfull alternative-style\"><div class=\"block-inner\"><div class=\"norfund-key-figure-item\" data-key=\"0\"><div class=\"norfund-key-figure-alt-style\"><div class=\"norfund-key-figure-number\">190,000<\/div><div class=\"norfund-key-figure-number-unit\">jobs<\/div><\/div><div class=\"norfund-key-figure-number-bar\"><div class=\"norfund-key-figure-number-bar-progress\" data-number=\"100\"><\/div><\/div><p class=\"norfund-key-figure-text\"> held by women supported in supply chains<\/p><\/div><div class=\"norfund-key-figure-item\" data-key=\"1\"><div class=\"norfund-key-figure-alt-style\"><div class=\"norfund-key-figure-number\">160,000<\/div><div class=\"norfund-key-figure-number-unit\">jobs<\/div><\/div><div class=\"norfund-key-figure-number-bar\"><div class=\"norfund-key-figure-number-bar-progress\" data-number=\"100\"><\/div><\/div><p class=\"norfund-key-figure-text\">held by women supported through spending of wages<\/p><\/div><div class=\"norfund-key-figure-item\" data-key=\"2\"><div class=\"norfund-key-figure-alt-style\"><div class=\"norfund-key-figure-number\">840,000<\/div><div class=\"norfund-key-figure-number-unit\">jobs<\/div><\/div><div class=\"norfund-key-figure-number-bar\"><div class=\"norfund-key-figure-number-bar-progress\" data-number=\"100\"><\/div><\/div><p class=\"norfund-key-figure-text\">finance-enabled jobs held by women through loans from banks and other financial institutions <\/p><\/div><\/div><\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>The subset covers 54 per cent of Norfund\u2019s portfolio companies, direct and through funds, or 87% of committed capital by end of 2020. Norfund uses ex-post estimations and figures are reported without attribution.<\/p>\n\n\n\n<div class=\"wp-block-teft-link-list\"><div class=\"teft-link-list__items\">\n<div class=\"wp-block-teft-link-list-item\"><a class=\"teft-link-list-item__holder\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/joint-impact-model\/\"><div class=\"teft-link-list-item__content\"><div class=\"teft-link-list-item__content-inner\"><div class=\"teft-link-list-item__content-wrapper\"><h3 class=\"teft-link-list-item__title\">New model estimates indirect job effects<\/h3><\/div><\/div><\/div><\/a><\/div>\n\n\n\n<div class=\"wp-block-teft-link-list-item\"><a class=\"teft-link-list-item__holder\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/impact-results\/\"><div class=\"teft-link-list-item__content\"><div class=\"teft-link-list-item__content-inner\"><div class=\"teft-link-list-item__content-wrapper\"><h3 class=\"teft-link-list-item__title\">More about job creation in Norfund<\/h3><\/div><\/div><\/div><\/a><\/div>\n\n\n\n<div class=\"wp-block-teft-link-list-item\"><a class=\"teft-link-list-item__holder\" href=\"https:\/\/reports.norfund.no\/gender-equality\/\"><div class=\"teft-link-list-item__content\"><div class=\"teft-link-list-item__content-inner\"><div class=\"teft-link-list-item__content-wrapper\"><h3 class=\"teft-link-list-item__title\">More about Norfund\u2019s Gender Position and our work to promote gender equality <\/h3><span class=\"teft-link-list-item__text\">at norfund.no.<\/span><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<div class=\"wp-block-group alignfull has-green-light-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-flow\">\n<h2 class=\"wp-block-heading\" id=\"h-promoting-gender-equality-through-the-business-support-program\">Promoting gender equality through the Business Support Program<\/h2>\n\n\n\n<p id=\"h-in-2020-norfund-approved-two-new-business-support-projects-focusing-on-gender-equality\">In 2020, Norfund approved two new <a href=\"https:\/\/reports.norfund.no\/annualreport-2020\/business-support-bangladesh\/\">Business Support<\/a> projects focusing on gender equality.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-gender-empowerment-as-part-of-capacity-development\"><strong>Gender empowerment as part of capacity development:&nbsp;<\/strong><\/h3>\n\n\n\n<p>Over the next three years, Norfund will support the <a href=\"https:\/\/reports.norfund.no\/investment\/responsability-access-to-clean-power-fund-s-a-sicav-sif\/\">ResponsAbility Technical Assistance Facility (TAF)<\/a> that is active mostly in Sub-Saharan Africa and in South and Southeast Asia. Through the TAF, the fund\u2019s early stage and portfolio companies are supported with advisory services, capacity development and exchange of best practices in the sector. Gender empowerment initiatives are supported as part of capacity development. Examples include setting up gender-smart policies, sales training targeting women and establishing HR policies that address gender equality.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-training-women-in-the-local-community\"><strong>Training women in the local community<\/strong>:<\/h3>\n\n\n\n<p>The second Business Support project is run in partnership with <a href=\"https:\/\/reports.norfund.no\/enel-green-power-and-norfund-join-forces-to-develop-renewable-projects-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">ENEL Green Power India<\/a>, in which Norfund will support local community development surrounding a wind power project. As part of these initiatives, the focus is on women\u2019s empowerment by providing skills and leadership training.<\/p>\n\n\n<div class=\"teft-cards-item is-card-default\">\n\t<div class=\"teft-card\">\n\t\t<a href=\"https:\/\/reports.norfund.no\/annualreport-2020\/responsible-investor\/gender\/arnergy-case\/\" class=\"teft-card__primary-action\">\n\t\t\t<div class=\"teft-card__media teft-card__media--16-9\"><img width=\"768\" height=\"508\" src=\"https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814-768x508.jpg\" class=\"teft-card__media-image\" alt=\"\" decoding=\"async\" loading=\"lazy\" style=\"object-position:37% 41%;\" srcset=\"https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814-768x508.jpg 768w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814-300x198.jpg 300w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814-1024x677.jpg 1024w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814-1536x1016.jpg 1536w, https:\/\/reports.norfund.no\/annualreport-2020\/wp-content\/uploads\/sites\/2\/2021\/04\/arnergy-team-retreat-and-kick-off-with-investors-7-ID-287814.jpg 1750w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n\t\t\t<div class=\"teft-card__primary\">\n\t\t\t\t<h2 class=\"teft-card__title\">Arnergy \u2013 Gender Equality in the Renewable Energy Sector <\/h2>\t\t\t<\/div>\n\n\t\t\t<div class=\"teft-card__secondary\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Norfund is committed to promote gender equality, in our own organisation and in our portfolio companies. Norfund was one of the first development finance institutions to develop a Gender Strategy in 2016. A new gender position In 2020, Norfund\u2019s new Gender Position was developed based on the previous strategy and consultations with internal and external [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":332,"parent":30,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"Gender Equality","teft_cards_excerpt":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gender equality | Annual report 2020<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/responsible-investor\/gender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gender equality | Annual report 2020\" \/>\n<meta property=\"og:description\" content=\"Norfund is committed to promote gender equality, in our own organisation and in our portfolio companies. Norfund was one of the first development finance institutions to develop a Gender Strategy in 2016. 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