More about additionality<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n\nRead about Norfund\u2019s Development Mandate and Climate Mandate<\/h3>\n\n\n\n\n\n\t\n\t\t\n\t\t\t![\"\"](\"https:\/\/reports.norfund.no\/annualreport-2022\/wp-content\/uploads\/sites\/5\/2023\/05\/52376370345_c215010cd4_k-768x512.jpg\")
<\/div>\n\t\t\t\n\t\t\t\tInvesting in the transition to net zero<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n\n\n\n\n\t\n\t\t\n\t\t\t![\"\"](\"https:\/\/reports.norfund.no\/annualreport-2022\/wp-content\/uploads\/sites\/5\/2023\/05\/52575706333_36d952c90b_k-768x513.jpg\")
<\/div>\n\t\t\t\n\t\t\t\tCreating jobs, improving lives<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\nThe illustration below shows how Norfund works and how investments in 2022 contributed to creating jobs, increasing energy access and supply and strengthening 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
\nDiscover Norfund\u2019s impact here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/5\/2023\/06\/Investment_circle_2023-final-867x1024.png\")
<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/5\/2023\/05\/52310087489_9e580322f8_k-1024x683.jpg\")
<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
Read about Norfund\u2019s Development Mandate and Climate Mandate<\/h3>\n\n\n\n\n\n\t\n\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\tInvesting in the transition to net zero<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n\n\n\n\n\t\n\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\tCreating jobs, improving lives<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\nThe illustration below shows how Norfund works and how investments in 2022 contributed to creating jobs, increasing energy access and supply and strengthening 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
\nDiscover Norfund\u2019s impact here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
<\/div>\n\t\t\tInvesting in the transition to net zero<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n\n\n\n\n\t\n\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\tCreating jobs, improving lives<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\nThe illustration below shows how Norfund works and how investments in 2022 contributed to creating jobs, increasing energy access and supply and strengthening 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
\nDiscover Norfund\u2019s impact here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
<\/div>\n\t\t\tCreating jobs, improving lives<\/h2>\t\t\t<\/div>\n\n\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/div>\n\n\t<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\nThe illustration below shows how Norfund works and how investments in 2022 contributed to creating jobs, increasing energy access and supply and strengthening 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
\nDiscover Norfund\u2019s impact here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
The illustration below shows how Norfund works and how investments in 2022 contributed to creating jobs, increasing energy access and supply and strengthening 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
Discover Norfund\u2019s impact here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
<\/figure>\n\n\n\nA responsible and active investor<\/strong><\/h3>\n\n\n\nNorfund is a responsible 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 Risk Management<\/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.<\/a><\/p>\n\n\n\nMore about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\nSince 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<\/strong><\/h3>\n\n\n\nThe \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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\nNorfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\n\n\n\nA minority investor<\/strong><\/h3>\n\n\n\nNorfund 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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\nNorfund\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<\/strong><\/a><\/p>\n\n\n\nResponsible Tax Policy<\/strong><\/h3>\n\n\n\n
Norfund\u2019s Environmental and Social Risk Management<\/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.<\/a><\/p>\n\n\n\n More about Norfund\u2019s business integrity policy and other governing documents at norfund.no<\/a><\/p>\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 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. Since 2020, Norfund has annually published a Disclosure Statement describing how Norfund is working to align its investments and operations with the Impact Principles. In 2022, the statement and Norfund’s impact management approach was verified by BlueMark.<\/a><\/p>\n\n\n\n Norfund Disclosure Statement Operating Principles for Impact Management <\/a><\/p>\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. Equity is our preferred instrument, and we often take up Board positions in our portfolio companies.<\/p>\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<\/strong><\/a><\/p>\n\n\n\n<\/figure>\n\n\n\nPrinciples for Responsible Investments (PRI)<\/strong><\/h3>\n\n\n\n
Operating Principles for Impact Management<\/strong><\/h3>\n\n\n\n
A minority investor<\/strong><\/h3>\n\n\n\n
Strategic partners and co-investors<\/strong><\/h3>\n\n\n\n
Responsible Tax Policy<\/strong><\/h3>\n\n\n\n
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