More about additionality<\/h3>Read how Norfund makes a difference<\/span><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\nThe illustration below shows how Norfund works and how investments in 2021 contributed to creating jobs, increasing energy access and supply and strengthening\u00ad\u00ad\u00ad financial inclusion. When Norfund is no longer considered additional, the investments are exited. The proceeds are then reinvested in new enterprises with greater need for risk capital.
<\/p>\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/4\/2022\/05\/Investment-circle-for-2021-866x1024.png\")
<\/figure>\n\n\n\n\n\nKey Figures 2021<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/div>\n\n\n\n<\/p>\n<\/div><\/div>\n\n\n\n
\nNorfund strategy 2019-2022<\/h2>\n\n\n\n
Norfund\u2019s strategy is rooted in the mandate, informed by the UN Sustainable Development Goals and reflects the priorities of the Norwegian government\u2019s development assistance policy. <\/p>\n\n\n\n
Norfund invests in four areas where the potential for development impact is substantial and that are aligned with the SDGs. <\/p>\n\n\n\n
Eight ambitions are defined for these investment areas to be achieved by the end of 2022: <\/p>\n\n\n\n
\n\nClean Energy<\/h3>\n\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/05\/E-WEB-Goal-07-1024x1024.png\")
<\/figure><\/div>\n\n\n\n- 5,000 MW new capacity financed, of which 4000 MW is renewable<\/li>
- 1.5 million households provided with access to electricity<\/li><\/ul>\n\n\n\n
Clean Energy investments and results 2021 <\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nFinancial Institutions<\/h3>\n\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/05\/E-WEB-Goal-09-1024x1024.png\")
<\/figure><\/div>\n\n\n\n- 15 million new clients are offered financial services<\/li>
- 130 billion NOK more extended in loans to clients<\/li><\/ul>\n\n\n\n
Financial Institutions investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nScalable Enterprises<\/h3>\n\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/05\/E-WEB-Goal-08-1024x1024.png\")
<\/figure><\/div>\n\n\n\n- 50,000 jobs created through direct investments and funds, whereof 3,000 jobs created in direct investments <\/li>
- 2 billion NOK increased total revenues due to realised growth <\/li><\/ul>\n\n\n\n
Scalable Enterprises investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n<\/div>\n\n\n\nGreen Infrastructure<\/h3>\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/05\/E-WEB-Goal-11-1024x1024.png\")
<\/figure><\/div>\n\n\n\n\n- NOK 450 million to be committed in 3-7 investments by the end of 2022 <\/li><\/ul>\n\n\n\n
Green Infrastructure investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<\/div>\n\n\n\nKey Performance Indicators<\/h3>\n\n\n\n
To track progress Norfund also measure progress towards five key performance indicators (KPIs): <\/p>\n\n\n\n
- Sub-Saharan Africa > 50% <\/li>
- Least Developed Countries > 33% <\/li>
- Equity Investments > 70% <\/li>
- Greenfield Investments > 15% of three-years moving average of annual commitments <\/li>
- Renewable energy > 50% share of accumulated allocated capital from government <\/li><\/ul>\n\n\n\n
Portfolio status in 2021 according to Key Performance Indicators<\/a><\/p>\n<\/div><\/div>\n\n\n\n\n<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n\nA responsible and active investor<\/h2>\n\n\n\n
Norfund is an active owner of our portfolio companies, contributing expertise and sound corporate governance \u2013 helping our investees to improve their environmental and social performance. <\/p>\n\n\n\n
\nNorfund\u2019s Environmental and Social policy<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
If environ\u00admental and social risks are not addressed appropriately, harm can be caused both to people and to the environ\u00adment. The management of environmental and social risks is therefore an integral part of Norfund\u2019s investment process. Norfund uses the Environmental and Social Sustainability Performance Standards of the World Bank\u2019s International Finance Corporation (IFC). This framework covers eight stand\u00adards that form the basis for our assessments and follow-up interventions. <\/p>\n\n\n\n
Norfund requires high standards of business integrity from employees and business partners and communicates its no-tolerance approach to all stakeholders. <\/p>\n\n\n\n
\nMore about Norfund’s business integrity policy and other governing documents at norfund.no<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/h3>\n\n\n\n
Since 2017, Norfund has been a signatory to the Principles for Responsible Investment (PRI) initiative<\/a>. The PRI outlines six principles for responsible investment that Norfund has committed to and report on annually. The six principles reflect the increasing relevance of environmental, social and corporate governance issues to investment practices. <\/p>\n\n\n\nOperating Principles for Impact Management<\/h3>\n\n\n\n
The \u201cOperating Principles for Impact Management<\/a>\u201d is a new investment tool that has established a market consensus for the management of investments for impact. The principles were developed by the International Finance Corporation (IFC), in consultation with a core group of stakeholders and draw on emerging best practices. They provide a reference point against which the impact management systems of funds and institutions may be assessed. <\/p>\n\n\n\nNorfund was among the first founding signatories. In April 2020, Norfund signed its first Disclosure Statement which affirms that Norfund investments and operations are managed in alignment with these Principles. <\/p>\n\n\n\n
\nNorfund Disclosure Statement Operating Principles for Impact Management<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
<\/p>\n\n\n
<\/div>\n\n\n\nA minority investor<\/h2>\n\n\n\n
Norfund invests jointly with other partners, and always as a minority
investor. By being a significant minority investor, Norfund has influence, while supporting local ownership and encouraging other investors to invest in developing countries. <\/p>\n\n\n\n
Strategic partners and co-investors<\/h3>\n\n\n\n
Norfund\u2019s ownership will normally not exceed 35 percent of a company. This means we always depend on competent and trusted partners. Norfund has clear guidelines for how to analyse and evaluate potential partners. The partner\u2019s areas of expertise and knowledge, previous and existing positions and relationships, other roles in the society and reputation are among the factors that are carefully considered. <\/p>\n\n\n\n
Being a minority investor is a principle that is defined in Norfund\u2019s mandate. This can enable other international investors to invest in developing countries and supports local ownership. <\/p>\n\n\n\n
Co-investing this way enables Norfund to leverage additional capital and to provide the industrial and local knowledge needed for each investment. <\/p>\n\n\n\n
Overview of Norfund partners at norfund.no<\/a><\/strong><\/p>\n\n\n\nResponsible Tax Policy<\/h3>\n\n\n\n
<\/p>\n\n\n\n
<\/figure>\n\n\n\nKey Figures 2021<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/div>\n\n\n\n<\/p>\n<\/div><\/div>\n\n\n\n
\nNorfund strategy 2019-2022<\/h2>\n\n\n\n
Norfund\u2019s strategy is rooted in the mandate, informed by the UN Sustainable Development Goals and reflects the priorities of the Norwegian government\u2019s development assistance policy. <\/p>\n\n\n\n
Norfund invests in four areas where the potential for development impact is substantial and that are aligned with the SDGs. <\/p>\n\n\n\n
Eight ambitions are defined for these investment areas to be achieved by the end of 2022: <\/p>\n\n\n\n
\n\nClean Energy<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 5,000 MW new capacity financed, of which 4000 MW is renewable<\/li>
- 1.5 million households provided with access to electricity<\/li><\/ul>\n\n\n\n
Clean Energy investments and results 2021 <\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nFinancial Institutions<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 15 million new clients are offered financial services<\/li>
- 130 billion NOK more extended in loans to clients<\/li><\/ul>\n\n\n\n
Financial Institutions investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nScalable Enterprises<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 50,000 jobs created through direct investments and funds, whereof 3,000 jobs created in direct investments <\/li>
- 2 billion NOK increased total revenues due to realised growth <\/li><\/ul>\n\n\n\n
Scalable Enterprises investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n<\/div>\n\n\n\nGreen Infrastructure<\/h3>\n\n\n\n<\/figure><\/div>\n\n\n\n\n- NOK 450 million to be committed in 3-7 investments by the end of 2022 <\/li><\/ul>\n\n\n\n
Green Infrastructure investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<\/div>\n\n\n\nKey Performance Indicators<\/h3>\n\n\n\n
To track progress Norfund also measure progress towards five key performance indicators (KPIs): <\/p>\n\n\n\n
- Sub-Saharan Africa > 50% <\/li>
- Least Developed Countries > 33% <\/li>
- Equity Investments > 70% <\/li>
- Greenfield Investments > 15% of three-years moving average of annual commitments <\/li>
- Renewable energy > 50% share of accumulated allocated capital from government <\/li><\/ul>\n\n\n\n
Portfolio status in 2021 according to Key Performance Indicators<\/a><\/p>\n<\/div><\/div>\n\n\n\n\n<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n\nA responsible and active investor<\/h2>\n\n\n\n
Norfund is an active owner of our portfolio companies, contributing expertise and sound corporate governance \u2013 helping our investees to improve their environmental and social performance. <\/p>\n\n\n\n
\nNorfund\u2019s Environmental and Social policy<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
If environ\u00admental and social risks are not addressed appropriately, harm can be caused both to people and to the environ\u00adment. The management of environmental and social risks is therefore an integral part of Norfund\u2019s investment process. Norfund uses the Environmental and Social Sustainability Performance Standards of the World Bank\u2019s International Finance Corporation (IFC). This framework covers eight stand\u00adards that form the basis for our assessments and follow-up interventions. <\/p>\n\n\n\n
Norfund requires high standards of business integrity from employees and business partners and communicates its no-tolerance approach to all stakeholders. <\/p>\n\n\n\n
\nMore about Norfund’s business integrity policy and other governing documents at norfund.no<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/h3>\n\n\n\n
Since 2017, Norfund has been a signatory to the Principles for Responsible Investment (PRI) initiative<\/a>. The PRI outlines six principles for responsible investment that Norfund has committed to and report on annually. The six principles reflect the increasing relevance of environmental, social and corporate governance issues to investment practices. <\/p>\n\n\n\nOperating Principles for Impact Management<\/h3>\n\n\n\n
The \u201cOperating Principles for Impact Management<\/a>\u201d is a new investment tool that has established a market consensus for the management of investments for impact. The principles were developed by the International Finance Corporation (IFC), in consultation with a core group of stakeholders and draw on emerging best practices. They provide a reference point against which the impact management systems of funds and institutions may be assessed. <\/p>\n\n\n\nNorfund was among the first founding signatories. In April 2020, Norfund signed its first Disclosure Statement which affirms that Norfund investments and operations are managed in alignment with these Principles. <\/p>\n\n\n\n
\nNorfund Disclosure Statement Operating Principles for Impact Management<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
<\/p>\n\n\n
<\/div>\n\n\n\nA minority investor<\/h2>\n\n\n\n
Norfund invests jointly with other partners, and always as a minority
investor. By being a significant minority investor, Norfund has influence, while supporting local ownership and encouraging other investors to invest in developing countries. <\/p>\n\n\n\n
Strategic partners and co-investors<\/h3>\n\n\n\n
Norfund\u2019s ownership will normally not exceed 35 percent of a company. This means we always depend on competent and trusted partners. Norfund has clear guidelines for how to analyse and evaluate potential partners. The partner\u2019s areas of expertise and knowledge, previous and existing positions and relationships, other roles in the society and reputation are among the factors that are carefully considered. <\/p>\n\n\n\n
Being a minority investor is a principle that is defined in Norfund\u2019s mandate. This can enable other international investors to invest in developing countries and supports local ownership. <\/p>\n\n\n\n
Co-investing this way enables Norfund to leverage additional capital and to provide the industrial and local knowledge needed for each investment. <\/p>\n\n\n\n
Overview of Norfund partners at norfund.no<\/a><\/strong><\/p>\n\n\n\nResponsible Tax Policy<\/h3>\n\n\n\n
<\/p>\n<\/div><\/div>\n\n\n\n
Norfund strategy 2019-2022<\/h2>\n\n\n\n
Norfund\u2019s strategy is rooted in the mandate, informed by the UN Sustainable Development Goals and reflects the priorities of the Norwegian government\u2019s development assistance policy. <\/p>\n\n\n\n
Norfund invests in four areas where the potential for development impact is substantial and that are aligned with the SDGs. <\/p>\n\n\n\n
Eight ambitions are defined for these investment areas to be achieved by the end of 2022: <\/p>\n\n\n\n
Clean Energy<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 5,000 MW new capacity financed, of which 4000 MW is renewable<\/li>
- 1.5 million households provided with access to electricity<\/li><\/ul>\n\n\n\n
Clean Energy investments and results 2021 <\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nFinancial Institutions<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 15 million new clients are offered financial services<\/li>
- 130 billion NOK more extended in loans to clients<\/li><\/ul>\n\n\n\n
Financial Institutions investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n\nScalable Enterprises<\/h3>\n\n\n\n\n<\/figure><\/div>\n\n\n\n- 50,000 jobs created through direct investments and funds, whereof 3,000 jobs created in direct investments <\/li>
- 2 billion NOK increased total revenues due to realised growth <\/li><\/ul>\n\n\n\n
Scalable Enterprises investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n<\/div>\n\n\n\nGreen Infrastructure<\/h3>\n\n\n\n<\/figure><\/div>\n\n\n\n\n- NOK 450 million to be committed in 3-7 investments by the end of 2022 <\/li><\/ul>\n\n\n\n
Green Infrastructure investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<\/div>\n\n\n\nKey Performance Indicators<\/h3>\n\n\n\n
To track progress Norfund also measure progress towards five key performance indicators (KPIs): <\/p>\n\n\n\n
- Sub-Saharan Africa > 50% <\/li>
- Least Developed Countries > 33% <\/li>
- Equity Investments > 70% <\/li>
- Greenfield Investments > 15% of three-years moving average of annual commitments <\/li>
- Renewable energy > 50% share of accumulated allocated capital from government <\/li><\/ul>\n\n\n\n
Portfolio status in 2021 according to Key Performance Indicators<\/a><\/p>\n<\/div><\/div>\n\n\n\n\n<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n\nA responsible and active investor<\/h2>\n\n\n\n
Norfund is an active owner of our portfolio companies, contributing expertise and sound corporate governance \u2013 helping our investees to improve their environmental and social performance. <\/p>\n\n\n\n
\nNorfund\u2019s Environmental and Social policy<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
If environ\u00admental and social risks are not addressed appropriately, harm can be caused both to people and to the environ\u00adment. The management of environmental and social risks is therefore an integral part of Norfund\u2019s investment process. Norfund uses the Environmental and Social Sustainability Performance Standards of the World Bank\u2019s International Finance Corporation (IFC). This framework covers eight stand\u00adards that form the basis for our assessments and follow-up interventions. <\/p>\n\n\n\n
Norfund requires high standards of business integrity from employees and business partners and communicates its no-tolerance approach to all stakeholders. <\/p>\n\n\n\n
\nMore about Norfund’s business integrity policy and other governing documents at norfund.no<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/h3>\n\n\n\n
Since 2017, Norfund has been a signatory to the Principles for Responsible Investment (PRI) initiative<\/a>. The PRI outlines six principles for responsible investment that Norfund has committed to and report on annually. The six principles reflect the increasing relevance of environmental, social and corporate governance issues to investment practices. <\/p>\n\n\n\nOperating Principles for Impact Management<\/h3>\n\n\n\n
The \u201cOperating Principles for Impact Management<\/a>\u201d is a new investment tool that has established a market consensus for the management of investments for impact. The principles were developed by the International Finance Corporation (IFC), in consultation with a core group of stakeholders and draw on emerging best practices. They provide a reference point against which the impact management systems of funds and institutions may be assessed. <\/p>\n\n\n\nNorfund was among the first founding signatories. In April 2020, Norfund signed its first Disclosure Statement which affirms that Norfund investments and operations are managed in alignment with these Principles. <\/p>\n\n\n\n
\nNorfund Disclosure Statement Operating Principles for Impact Management<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
<\/p>\n\n\n
<\/div>\n\n\n\nA minority investor<\/h2>\n\n\n\n
Norfund invests jointly with other partners, and always as a minority
investor. By being a significant minority investor, Norfund has influence, while supporting local ownership and encouraging other investors to invest in developing countries. <\/p>\n\n\n\n
Strategic partners and co-investors<\/h3>\n\n\n\n
Norfund\u2019s ownership will normally not exceed 35 percent of a company. This means we always depend on competent and trusted partners. Norfund has clear guidelines for how to analyse and evaluate potential partners. The partner\u2019s areas of expertise and knowledge, previous and existing positions and relationships, other roles in the society and reputation are among the factors that are carefully considered. <\/p>\n\n\n\n
Being a minority investor is a principle that is defined in Norfund\u2019s mandate. This can enable other international investors to invest in developing countries and supports local ownership. <\/p>\n\n\n\n
Co-investing this way enables Norfund to leverage additional capital and to provide the industrial and local knowledge needed for each investment. <\/p>\n\n\n\n
Overview of Norfund partners at norfund.no<\/a><\/strong><\/p>\n\n\n\nResponsible Tax Policy<\/h3>\n\n\n\n
<\/figure><\/div>\n\n\n\n- 5,000 MW new capacity financed, of which 4000 MW is renewable<\/li>
- 1.5 million households provided with access to electricity<\/li><\/ul>\n\n\n\n
Clean Energy investments and results 2021 <\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
\nFinancial Institutions<\/h3>\n\n\n\n
\n<\/figure><\/div>\n\n\n\n- 15 million new clients are offered financial services<\/li>
- 130 billion NOK more extended in loans to clients<\/li><\/ul>\n\n\n\n
Financial Institutions investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
\nScalable Enterprises<\/h3>\n\n\n\n
\n<\/figure><\/div>\n\n\n\n- 50,000 jobs created through direct investments and funds, whereof 3,000 jobs created in direct investments <\/li>
- 2 billion NOK increased total revenues due to realised growth <\/li><\/ul>\n\n\n\n
Scalable Enterprises investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n
<\/div>\n\n\n\nGreen Infrastructure<\/h3>\n\n\n\n
<\/figure><\/div>\n\n\n\n\n- NOK 450 million to be committed in 3-7 investments by the end of 2022 <\/li><\/ul>\n\n\n\n
Green Infrastructure investments and results 2021<\/a><\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
<\/div>\n\n\n\nKey Performance Indicators<\/h3>\n\n\n\n
To track progress Norfund also measure progress towards five key performance indicators (KPIs): <\/p>\n\n\n\n
- Sub-Saharan Africa > 50% <\/li>
- Least Developed Countries > 33% <\/li>
- Equity Investments > 70% <\/li>
- Greenfield Investments > 15% of three-years moving average of annual commitments <\/li>
- Renewable energy > 50% share of accumulated allocated capital from government <\/li><\/ul>\n\n\n\n
Portfolio status in 2021 according to Key Performance Indicators<\/a><\/p>\n<\/div><\/div>\n\n\n\n
\n<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
\nA responsible and active investor<\/h2>\n\n\n\n
Norfund is an active owner of our portfolio companies, contributing expertise and sound corporate governance \u2013 helping our investees to improve their environmental and social performance. <\/p>\n\n\n\n
\nNorfund\u2019s Environmental and Social policy<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
If environ\u00admental and social risks are not addressed appropriately, harm can be caused both to people and to the environ\u00adment. The management of environmental and social risks is therefore an integral part of Norfund\u2019s investment process. Norfund uses the Environmental and Social Sustainability Performance Standards of the World Bank\u2019s International Finance Corporation (IFC). This framework covers eight stand\u00adards that form the basis for our assessments and follow-up interventions. <\/p>\n\n\n\n
Norfund requires high standards of business integrity from employees and business partners and communicates its no-tolerance approach to all stakeholders. <\/p>\n\n\n\n
\nMore about Norfund’s business integrity policy and other governing documents at norfund.no<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n
Principles for Responsible Investments (PRI)<\/h3>\n\n\n\n
Since 2017, Norfund has been a signatory to the Principles for Responsible Investment (PRI) initiative<\/a>. The PRI outlines six principles for responsible investment that Norfund has committed to and report on annually. The six principles reflect the increasing relevance of environmental, social and corporate governance issues to investment practices. <\/p>\n\n\n\n
Operating Principles for Impact Management<\/h3>\n\n\n\n
The \u201cOperating Principles for Impact Management<\/a>\u201d is a new investment tool that has established a market consensus for the management of investments for impact. The principles were developed by the International Finance Corporation (IFC), in consultation with a core group of stakeholders and draw on emerging best practices. They provide a reference point against which the impact management systems of funds and institutions may be assessed. <\/p>\n\n\n\n
Norfund was among the first founding signatories. In April 2020, Norfund signed its first Disclosure Statement which affirms that Norfund investments and operations are managed in alignment with these Principles. <\/p>\n\n\n\n
\nNorfund Disclosure Statement Operating Principles for Impact Management<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
<\/p>\n\n\n
<\/div>\n\n\n\nA minority investor<\/h2>\n\n\n\n
Norfund invests jointly with other partners, and always as a minority
investor. By being a significant minority investor, Norfund has influence, while supporting local ownership and encouraging other investors to invest in developing countries. <\/p>\n\n\n\nStrategic partners and co-investors<\/h3>\n\n\n\n
Norfund\u2019s ownership will normally not exceed 35 percent of a company. This means we always depend on competent and trusted partners. Norfund has clear guidelines for how to analyse and evaluate potential partners. The partner\u2019s areas of expertise and knowledge, previous and existing positions and relationships, other roles in the society and reputation are among the factors that are carefully considered. <\/p>\n\n\n\n
Being a minority investor is a principle that is defined in Norfund\u2019s mandate. This can enable other international investors to invest in developing countries and supports local ownership. <\/p>\n\n\n\n
Co-investing this way enables Norfund to leverage additional capital and to provide the industrial and local knowledge needed for each investment. <\/p>\n\n\n\n
Overview of Norfund partners at norfund.no<\/a><\/strong><\/p>\n\n\n\n
Responsible Tax Policy<\/h3>\n\n\n\n
- NOK 450 million to be committed in 3-7 investments by the end of 2022 <\/li><\/ul>\n\n\n\n