{"id":6498,"date":"2023-04-18T11:17:10","date_gmt":"2023-04-18T09:17:10","guid":{"rendered":"https:\/\/\/?page_id=6498"},"modified":"2024-06-19T08:47:51","modified_gmt":"2024-06-19T06:47:51","slug":"key-figures","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2023\/year-2023\/key-figures\/","title":{"rendered":"Key figures"},"content":{"rendered":"\n<p class=\"has-ingress-font-size\">While total foreign direct investment to developing countries fell last year, Norfund committed almost NOK 6.5 billion, mirroring our record investment from the previous year.&nbsp;&nbsp;<\/p>\n\n\n\n<p>2023 is the second year Norfund reports on both the Development Mandate and the Climate Mandate. For some key figures such as commitments and investments, we present both here, while on others such as certain development effects we report only on the Development Mandate, due to the current relatively small size of the Climate Mandate.<\/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-2023\/development-mandate\/creating-jobs-improving-lives\/\"><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\">Read more about the Development Mandate<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\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-2023\/climate-mandate\/investing-in-the-transition-to-net-zero\/\"><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\">Read more about the Climate Mandate<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<p><em>For more detailed reporting on each mandate refer to their individual sections in the content menu above.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-new-commitments\">New commitments<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-3\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\">Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">4.9<\/span><span class=\"symbol\"><\/span><\/div><p class=\"norfund-number-card__text\">billion NOK in 2023<br><sup><sub>Excluding Business Support and Frontier Facility<\/sub><\/sup><\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">1.6<\/span><span class=\"symbol\"><\/span><\/div><p class=\"norfund-number-card__text\"> billion NOK in 2023<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-total-commitments\">Total commitments<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-7\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\">Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">32.5<\/span><span class=\"symbol\"><\/span><\/div><p class=\"norfund-number-card__text\">billion NOK in portfolio<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">3.8<\/span><span class=\"symbol\"><\/span><\/div><p class=\"norfund-number-card__text\"> billion NOK in portfolio<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-investments\">Investments<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-11\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\">Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">21<\/span><span class=\"symbol\">\/18<\/span><\/div><p class=\"norfund-number-card__text\">New\/follow-on investments in 2023<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">5<\/span><span class=\"symbol\">\/1<\/span><\/div><p class=\"norfund-number-card__text\">New\/follow-on  investments in 2023<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-companies\">Companies<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-15\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\">Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">219<\/span><span class=\"symbol\">\/1030<\/span><\/div><p class=\"norfund-number-card__text\">total direct\/indirect investees in the portfolio<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">12<\/span><span class=\"symbol\"><\/span><\/div><p class=\"norfund-number-card__text\">total direct investees in the portfolio<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-committed-investments-per-year-mnok\">Committed investments per year (MNOK)<\/h2>\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\tdrawBarChartbar6addf2604fede( 12, 6 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6addf2604fede( 14, 14 );\n\t} );\n}\n\nfunction drawBarChartbar6addf2604fede( customFontSizehAxis = 14, customFontSizevAxis = 14 ) {\n\tlet data = google.visualization.arrayToDataTable([['data','Financial Inclusion','Renewable Energy','Scalable Enterprises','Green Infrastructure','Climate Investment Fund'],['2004',82,0,237,0,0],['2005',67,100,179,0,0],['2006',33,703,270,0,0],['2007',196,750,231,0,0],['2008',522,286,568,0,0],['2009',406,120,418,0,0],['2010',170,332,342,0,0],['2011',696,1246,256,0,0],['2012',376,540,297,0,0],['2013',614,877,380,0,0],['2014',878,2565,203,0,0],['2015',1489,328,578,0,0],['2016',1452,870,462,0,0],['2017',939,2114,547,0,0],['2018',1910,956,645,0,0],['2019',1958,1319,738,0,0],['2020',1348,1647,1845,0,0],['2021',1175,2720,1408,17,0],['2022',1809,1073,1519,139,2135],['2023',2282,1375,1216,0,1614]]);\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: '',\n\t\t\tright: '',\n\t\t\tbottom: '',\n\t\t\tleft: '',\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: [\"#6169AD\",\"#94CCC5\",\"#00ADB6\",\"#028977\",\"#C9DC5D\"],\n\t\tfontName: 'interstate'\n\t};\n\n\tlet chart = new google.visualization.ColumnChart( \n\t\tdocument.getElementById( \"columnchart_values_bar6addf2604fede\" )\n\t);\n\n\t\n\tchart.draw(view, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawBarChartbar6addf2604fede( 12, 6 );\n\t} else {\n\t\tdrawBarChartbar6addf2604fede( 14, 14 );\n\t}\n} );\n<\/script>\n\n\n<div class=\"chart-container wide\">\n\t<div id=\"columnchart_values_bar6addf2604fede\" style=\"width:100%; height: 500px;\"><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Jobs<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignfull is-layout-flex wp-container-20\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-gray\"><h3 class=\"norfund-number-card__title\">Jobs<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">625<\/span><span class=\"symbol\">,000<\/span><\/div><p class=\"norfund-number-card__text\">in Norfund portfolio companies under Development Mandate<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-gray\"><h3 class=\"norfund-number-card__title\">Jobs created <\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">37<\/span><span class=\"symbol\">,200<\/span><\/div><p class=\"norfund-number-card__text\">new jobs created (net) in portfolio companies under Development Mandate<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-gray\"><h3 class=\"norfund-number-card__title\">Female employees<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">38<\/span><span class=\"symbol\">%<\/span><\/div><p class=\"norfund-number-card__text\">in Norfund portfolio companies under Development Mandate<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\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-2023\/development-mandate\/impact-development-mandate\/jobs-created\/\"><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\">Read more about job creation and the Development Mandate here<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-spacer\"><\/div>\n\n\n<div class=\"wp-block-group alignwide is-layout-constrained\"><div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-co2\">Avoided emissions<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-24\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\">Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">6.2<\/span><span class=\"symbol\"> million tons<\/span><\/div><p class=\"norfund-number-card__text\">CO2e emissions avoided annually from greenfield projects in 2023 portfolio<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">2.2<\/span><span class=\"symbol\"> million tons<\/span><\/div><p class=\"norfund-number-card__text\">CO2e emissions avoided annually from greenfield projects in 2023 portfolio<\/p><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">8.5<\/span><span class=\"symbol\"> million tons<\/span><\/div><p class=\"norfund-number-card__text\">CO2e expected annual avoided emissions from projects financed in 2023<\/p><\/div>\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-2023\/development-mandate\/impact-development-mandate\/emissions-avoided-development-mandate\/\"><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\">Read more about avoided emissions from the Development Mandate<\/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-2023\/climate-mandate\/impact-climate-mandate\/emissions-avoided-climate-mandate\/\"><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\">Read more about avoided emissions from the Climate Mandate<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-new-electricity-capacity\">New electricity capacity<\/h2>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-29\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\"> Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">557<\/span><span class=\"symbol\"> MW<\/span><\/div><p class=\"norfund-number-card__text\">financed in 2023<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">4<\/span><span class=\"symbol\">,244 MW<\/span><\/div><p class=\"norfund-number-card__text\">financed in 2023<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-33\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-blue\"><h3 class=\"norfund-number-card__title\"> Development Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">17.9<\/span><span class=\"symbol\"> TWh<\/span><\/div><p class=\"norfund-number-card__text\">electricity produced in portfolio companies<\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">Climate Mandate<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">5.7<\/span><span class=\"symbol\"> TWh<\/span><\/div><p class=\"norfund-number-card__text\">electricity produced in portfolio companies<\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\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-2023\/development-mandate\/impact-development-mandate\/increased-energy-access-and-supply\/\"><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\">Read more about increased energy access and supply from the Development Mandate<\/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-2023\/climate-mandate\/impact-climate-mandate\/increased-renewable-energy-supply-climate-mandate\/\"><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\">Read more about increased renewable energy supply from the Climate Mandate<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Access to finance<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-38\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-purple\"><h3 class=\"norfund-number-card__title\">New clients <\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">11.5<\/span><span class=\"symbol\"> million<\/span><\/div><p class=\"norfund-number-card__text\">offered financial services in 2023<br><sub>under the Development Mandate<\/sub><\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-purple\"><h3 class=\"norfund-number-card__title\">Total clients<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">121<\/span><span class=\"symbol\"> million<\/span><\/div><p class=\"norfund-number-card__text\">offered financial services  in 2023<br><sub>under the Development Mandate<\/sub><\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-purple\"><h3 class=\"norfund-number-card__title\">Increased lending<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">56<\/span><span class=\"symbol\"> BNOK<\/span><\/div><p class=\"norfund-number-card__text\">increase in total lending volume <br><sub>under the Development Mandate<\/sub><\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\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-2023\/development-mandate\/impact-development-mandate\/access-to-finance\/\"><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\">Read more about access to finance<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Internal rate of return<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-style-default is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-42\">\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-default\"><h3 class=\"norfund-number-card__title\">IRR in 2023<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">1.8<\/span><span class=\"symbol\">%<\/span><\/div><p class=\"norfund-number-card__text\">in  investment currency (4.1 % in NOK)<br><strong>Development Mandate<\/strong><\/p><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<div class=\"wp-block-norfund-number-card undefined has-color-default\"><h3 class=\"norfund-number-card__title\">IRR since inception<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">4.8<\/span><span class=\"symbol\">%<\/span><\/div><p class=\"norfund-number-card__text\">in investment currency (7.8 % in NOK)<br><strong>Development Mandate<\/strong><\/p><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group alignwide is-content-justification-center is-nowrap is-layout-flex wp-container-46\">\n<div class=\"wp-block-group is-layout-constrained\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group alignfull is-nowrap is-layout-flex wp-container-44\">\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">IRR in 2023<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">21.9<\/span><span class=\"symbol\">%<\/span><\/div><p class=\"norfund-number-card__text\">In investment currency (17.8% in NOK)<br><strong>Climate Mandate<\/strong><\/p><\/div>\n\n\n\n<div class=\"wp-block-norfund-number-card undefined has-color-green\"><h3 class=\"norfund-number-card__title\">IRR since inception<\/h3><div class=\"norfund-number-card__number\"><span class=\"number\">24.5<\/span><span class=\"symbol\">%<\/span><\/div><p class=\"norfund-number-card__text\">In investment currency  (20.4% in NOK)<br><strong>Climate Mandate<\/strong><\/p><\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\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-2023\/development-mandate\/financial-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\">Read more about IRR and financial results under the Development Mandate<\/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-2023\/climate-mandate\/financial-results-climate-mandate\/\"><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\">Read more about IRR and financial results under the Climate Mandate<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-commitments-per-investment-area\">Commitments per investment area<\/h2>\n\n\n\n<div class=\"wp-block-group alignwide is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-49\">\n<div class=\"wp-block-column is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-total-portfolio-mnok\">Total portfolio (MNOK)<\/h3>\n\n\n<script type=\"text\/javascript\">\ngoogle.charts.load(\"current\", {packages:[\"corechart\"]});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonuttotalcommitments20226addf26050d4e( 'bottom', 12, 12 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonuttotalcommitments20226addf26050d4e( 'right', 15, 17 );\n\t} );\n}\n\nfunction drawChartdonuttotalcommitments20226addf26050d4e( customLegendPosition, customFontSize, customSliceFontSize ) {\n\tlet data = google.visualization.arrayToDataTable([\n\t['Navn', 'Verdi'],['Renewable Energy', 10286],['Scalable Enterprises', 10309],['Financial Inclusion', 11728],['Green Infrastructure', 160],['Climate Investment Fund', 3757]\t]);\n\n\t\tlet options = {\n\t\tpieSliceText: 'percentage',\n\t\tpieSliceTextStyle: {\n\t\t\tfontSize: customSliceFontSize,\n\t\t\tbold: true,\n\t\t},\n\t\tpieHole: 0.6,\n\t\tslices: [{\"color\":\"#94CCC5\"},{\"color\":\"#00ADB6\"},{\"color\":\"#6169AD\"},{\"color\":\"#028977\"},{\"color\":\"#C9DC5D\"}],\n\t\t\t\tlegend: {\n\t\t\t'position': 'bottom',\n\t\t\t'alignment': 'center',\n\t\t\ttextStyle: {\n\t\t\t\tfontSize: customFontSize,\n\t\t\t}\n\t\t},\n\t\tchartArea: { 'width': '100%', 'height': '80%' },\n\t\t\t\tfontName: 'interstate',\n\t};\n\n\tlet chart = new google.visualization.PieChart(document.getElementById('donuttotalcommitments20226addf26050d4e'));\n\n\t\n\tchart.draw(data, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawChartdonuttotalcommitments20226addf26050d4e( 'bottom', 12, 12 );\n\t} else {\n\t\tdrawChartdonuttotalcommitments20226addf26050d4e( 'right', 15, 17 );\n\t}\n} );\n\n<\/script>\n<style>\n#donuttotalcommitments20226addf26050d4e svg g path {\n\tstroke-width: 4;\n}\n\n@media screen and (min-width: 800px) {\n\t#donuttotalcommitments20226addf26050d4e {\n\t\twidth: 100%;\n\t\tmin-height: 500px;\n\t}\n}\n<\/style>\n\n<div class=\"donut-chart-wrapper\">\n\t<div class=\"donut-chart\" id=\"donuttotalcommitments20226addf26050d4e\"><\/div>\n\n\t<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-in-2022-mnok\">In 2023 (MNOK)<\/h3>\n\n\n<script type=\"text\/javascript\">\ngoogle.charts.load(\"current\", {packages:[\"corechart\"]});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutcommitmentsperinvestmentareain20236addf26051181( 'bottom', 12, 12 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutcommitmentsperinvestmentareain20236addf26051181( 'right', 15, 17 );\n\t} );\n}\n\nfunction drawChartdonutcommitmentsperinvestmentareain20236addf26051181( customLegendPosition, customFontSize, customSliceFontSize ) {\n\tlet data = google.visualization.arrayToDataTable([\n\t['Navn', 'Verdi'],['Renewable Energy', 1375],['Scalable Enterprises', 1216],['Financial Inclusion', 2282],['Green Infrastructure', 0],['Climate Investment Fund', 1614]\t]);\n\n\t\tlet options = {\n\t\tpieSliceText: 'percentage',\n\t\tpieSliceTextStyle: {\n\t\t\tfontSize: customSliceFontSize,\n\t\t\tbold: true,\n\t\t},\n\t\tpieHole: 0.6,\n\t\tslices: [{\"color\":\"#94CCC5\"},{\"color\":\"#00ADB6\"},{\"color\":\"#6169AD\"},{\"color\":\"#028977\"},{\"color\":\"#C9DC5D\"}],\n\t\t\t\tlegend: {\n\t\t\t'position': 'bottom',\n\t\t\t'alignment': 'center',\n\t\t\ttextStyle: {\n\t\t\t\tfontSize: customFontSize,\n\t\t\t}\n\t\t},\n\t\tchartArea: { 'width': '100%', 'height': '80%' },\n\t\t\t\tfontName: 'interstate',\n\t};\n\n\tlet chart = new google.visualization.PieChart(document.getElementById('donutcommitmentsperinvestmentareain20236addf26051181'));\n\n\t\n\tchart.draw(data, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawChartdonutcommitmentsperinvestmentareain20236addf26051181( 'bottom', 12, 12 );\n\t} else {\n\t\tdrawChartdonutcommitmentsperinvestmentareain20236addf26051181( 'right', 15, 17 );\n\t}\n} );\n\n<\/script>\n<style>\n#donutcommitmentsperinvestmentareain20236addf26051181 svg g path {\n\tstroke-width: 4;\n}\n\n@media screen and (min-width: 800px) {\n\t#donutcommitmentsperinvestmentareain20236addf26051181 {\n\t\twidth: 100%;\n\t\tmin-height: 500px;\n\t}\n}\n<\/style>\n\n<div class=\"donut-chart-wrapper\">\n\t<div class=\"donut-chart\" id=\"donutcommitmentsperinvestmentareain20236addf26051181\"><\/div>\n\n\t<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-commitments-per-region\">Commitments per region<\/h2>\n\n\n\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-53\">\n<div class=\"wp-block-column is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-total-portfolio-mnok-1\">Total portfolio (MNOK)<\/h3>\n\n\n<script type=\"text\/javascript\">\ngoogle.charts.load(\"current\", {packages:[\"corechart\"]});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutgeographicalregions8211totalportfolio20226addf2605162d( 'bottom', 12, 12 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutgeographicalregions8211totalportfolio20226addf2605162d( 'right', 15, 17 );\n\t} );\n}\n\nfunction drawChartdonutgeographicalregions8211totalportfolio20226addf2605162d( customLegendPosition, customFontSize, customSliceFontSize ) {\n\tlet data = google.visualization.arrayToDataTable([\n\t['Navn', 'Verdi'],['Africa', 22447],['Asia', 8697],['Latin America', 5052],['Global', 44]\t]);\n\n\t\tlet options = {\n\t\tpieSliceText: 'percentage',\n\t\tpieSliceTextStyle: {\n\t\t\tfontSize: customSliceFontSize,\n\t\t\tbold: true,\n\t\t},\n\t\tpieHole: 0.6,\n\t\tslices: [{\"color\":\"#375172\"},{\"color\":\"#A3B8D3\"},{\"color\":\"#7594BC\"},{\"color\":\"#F2F2F2\"}],\n\t\t\t\tlegend: {\n\t\t\t'position': 'bottom',\n\t\t\t'alignment': 'center',\n\t\t\ttextStyle: {\n\t\t\t\tfontSize: customFontSize,\n\t\t\t}\n\t\t},\n\t\tchartArea: { 'width': '100%', 'height': '80%' },\n\t\t\t\tfontName: 'interstate',\n\t};\n\n\tlet chart = new google.visualization.PieChart(document.getElementById('donutgeographicalregions8211totalportfolio20226addf2605162d'));\n\n\t\n\tchart.draw(data, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawChartdonutgeographicalregions8211totalportfolio20226addf2605162d( 'bottom', 12, 12 );\n\t} else {\n\t\tdrawChartdonutgeographicalregions8211totalportfolio20226addf2605162d( 'right', 15, 17 );\n\t}\n} );\n\n<\/script>\n<style>\n#donutgeographicalregions8211totalportfolio20226addf2605162d svg g path {\n\tstroke-width: 4;\n}\n\n@media screen and (min-width: 800px) {\n\t#donutgeographicalregions8211totalportfolio20226addf2605162d {\n\t\twidth: 100%;\n\t\tmin-height: 500px;\n\t}\n}\n<\/style>\n\n<div class=\"donut-chart-wrapper\">\n\t<div class=\"donut-chart\" id=\"donutgeographicalregions8211totalportfolio20226addf2605162d\"><\/div>\n\n\t<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-in-2022-mnok-1\">In 2023 (MNOK)<\/h3>\n\n\n<script type=\"text\/javascript\">\ngoogle.charts.load(\"current\", {packages:[\"corechart\"]});\n\nif ( screen.width < 800 ) {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutgeographicalregions8211investmentsin20226addf260519dc( 'bottom', 12, 12 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawChartdonutgeographicalregions8211investmentsin20226addf260519dc( 'right', 15, 17 );\n\t} );\n}\n\nfunction drawChartdonutgeographicalregions8211investmentsin20226addf260519dc( customLegendPosition, customFontSize, customSliceFontSize ) {\n\tlet data = google.visualization.arrayToDataTable([\n\t['Navn', 'Verdi'],['Africa', 3277.4],['Asia', 2179.6],['Latin America', 1028.6],['Other', 1.4]\t]);\n\n\t\tlet options = {\n\t\tpieSliceText: 'percentage',\n\t\tpieSliceTextStyle: {\n\t\t\tfontSize: customSliceFontSize,\n\t\t\tbold: true,\n\t\t},\n\t\tpieHole: 0.6,\n\t\tslices: [{\"color\":\"#375172\"},{\"color\":\"#A3B8D3\"},{\"color\":\"#7594BC\"},{\"color\":\"#375172\"}],\n\t\t\t\tlegend: {\n\t\t\t'position': 'bottom',\n\t\t\t'alignment': 'center',\n\t\t\ttextStyle: {\n\t\t\t\tfontSize: customFontSize,\n\t\t\t}\n\t\t},\n\t\tchartArea: { 'width': '100%', 'height': '80%' },\n\t\t\t\tfontName: 'interstate',\n\t};\n\n\tlet chart = new google.visualization.PieChart(document.getElementById('donutgeographicalregions8211investmentsin20226addf260519dc'));\n\n\t\n\tchart.draw(data, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawChartdonutgeographicalregions8211investmentsin20226addf260519dc( 'bottom', 12, 12 );\n\t} else {\n\t\tdrawChartdonutgeographicalregions8211investmentsin20226addf260519dc( 'right', 15, 17 );\n\t}\n} );\n\n<\/script>\n<style>\n#donutgeographicalregions8211investmentsin20226addf260519dc svg g path {\n\tstroke-width: 4;\n}\n\n@media screen and (min-width: 800px) {\n\t#donutgeographicalregions8211investmentsin20226addf260519dc {\n\t\twidth: 100%;\n\t\tmin-height: 500px;\n\t}\n}\n<\/style>\n\n<div class=\"donut-chart-wrapper\">\n\t<div class=\"donut-chart\" id=\"donutgeographicalregions8211investmentsin20226addf260519dc\"><\/div>\n\n\t<\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-portfolio-since-inception\">Portfolio since inception<\/h2>\n\n\n\n<figure class=\"wp-block-image alignwide size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"1540\" height=\"915\" src=\"https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3.png\" alt=\"\" class=\"wp-image-8298\" srcset=\"https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3.png 1540w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3-300x178.png 300w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3-768x456.png 768w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3-1024x608.png 1024w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-3-1536x913.png 1536w\" sizes=\"(max-width: 1540px) 100vw, 1540px\" \/><\/figure>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-center is-style-default\">Norfund Key Performance Indicators<\/h2>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\">Development Mandate<\/h4>\n\n\n\n<p>Four key performance indicators (KPIs) are developed as a tool to secure that the portfolio develops according to Norfund's mandate. The KPIs are all measured at the portfolio level, though also monitored year by year (see table below).<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"1040\" height=\"671\" src=\"https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-4.png\" alt=\"\" class=\"wp-image-8301\" srcset=\"https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-4.png 1040w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-4-300x194.png 300w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-4-768x496.png 768w, https:\/\/reports.norfund.no\/annualreport-2023\/wp-content\/uploads\/sites\/6\/2024\/05\/image-4-1024x661.png 1024w\" sizes=\"(max-width: 1040px) 100vw, 1040px\" \/><\/figure>\n\n\n\n<p class=\"alignwide has-text-align-wide\"><em>*The RE KPI was new for 2022 and is different from the other portfolio KPI\u2019s. The RE KPI is defined as total RE-commitments (at commitment date fx-rate) divided by total allocation from MFA, starting from 2022. This should over time be at least 60%.<\/em><\/p>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-gender-equality-in-norfund-s-investees-2022\">Gender equality in Norfund's investees 2023<\/h2>\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\tdrawBarChartbar6addf26052111( 12, 6 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6addf26052111( 14, 14 );\n\t} );\n}\n\nfunction drawBarChartbar6addf26052111( customFontSizehAxis = 14, customFontSizevAxis = 14 ) {\n\tlet data = google.visualization.arrayToDataTable([['data','Women (%)','Men (%)'],['BoD',21,79],['Senior management',32,68],['Employees',38,62],['Smallholder farmers',37,63],['Individual loan clients',76,24]]);\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: '',\n\t\t\tright: '',\n\t\t\tbottom: '',\n\t\t\tleft: '',\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: 'interstate'\n\t};\n\n\tlet chart = new google.visualization.ColumnChart( \n\t\tdocument.getElementById( \"columnchart_values_bar6addf26052111\" )\n\t);\n\n\t\n\tchart.draw(view, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawBarChartbar6addf26052111( 12, 6 );\n\t} else {\n\t\tdrawBarChartbar6addf26052111( 14, 14 );\n\t}\n} );\n<\/script>\n\n\n<div class=\"chart-container wide\">\n\t<div id=\"columnchart_values_bar6addf26052111\" style=\"width:100%; height: 500px;\"><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-gender-equality-in-norfund-2022\">Gender equality in Norfund 2023<\/h2>\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\tdrawBarChartbar6addf26052769( 12, 6 );\n\t} );\n} else {\n\tgoogle.charts.setOnLoadCallback( () => {\n\t\tdrawBarChartbar6addf26052769( 14, 14 );\n\t} );\n}\n\nfunction drawBarChartbar6addf26052769( customFontSizehAxis = 14, customFontSizevAxis = 14 ) {\n\tlet data = google.visualization.arrayToDataTable([['data','Women (%)','Men (%)'],['Level 1 (excl. CEO)',50,50],['Level 2',29,71],['Level 3',63,37],['Level 4',56,44],['Total',51,49],['New Joiners 2023 (all positions)',50,50],['New Joiners 2023 (permanent positions)',72,28],['BoD',56,44]]);\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: '',\n\t\t\tright: '',\n\t\t\tbottom: '',\n\t\t\tleft: '',\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: 'interstate'\n\t};\n\n\tlet chart = new google.visualization.ColumnChart( \n\t\tdocument.getElementById( \"columnchart_values_bar6addf26052769\" )\n\t);\n\n\t\n\tchart.draw(view, options);\n}\n\nwindow.addEventListener( 'resize', () => {\n\tif ( screen.width < 800 ) {\n\t\tdrawBarChartbar6addf26052769( 12, 6 );\n\t} else {\n\t\tdrawBarChartbar6addf26052769( 14, 14 );\n\t}\n} );\n<\/script>\n\n\n<div class=\"chart-container wide\">\n\t<div id=\"columnchart_values_bar6addf26052769\" style=\"width:100%; height: 500px;\"><\/div>\n<\/div>\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-2023\/this-is-norfund\/responsible-investor\/gender\/\"><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\">Read more about gender<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n<div class=\"pdf-page-break\"><\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-key-figures-per-year\">Key figures per year<\/h2>\n\n\n<div class=\"norfund-advanced-table-block-container\"><div class=\"norfund-advanced-table-block-container-inner\"><table><thead><tr class=\"\"><th class=\"is-chars\">Key figures<\/th><th class=\"is-num\">2016<\/th><th class=\"is-num\">2017<\/th><th class=\"is-num\">2018<\/th><th class=\"is-num\">2019<\/th><th class=\"is-num\">2020<\/th><th class=\"is-num\">2021<\/th><th class=\"is-num\">2022<\/th><th class=\"is-num\">2023<\/th><\/tr><\/thead><tbody><tr class=\"header\"><td class=\"is-chars\">Climate and Development Mandates<\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Committed portfolio (MNOK)<\/td><td class=\"is-num\">16 762<\/td><td class=\"is-chars\">20 439\t<\/td><td class=\"is-chars\">22 253\t<\/td><td class=\"is-chars\">24 944\t<\/td><td class=\"is-chars\">28 352\t<\/td><td class=\"is-num\">26 924<\/td><td class=\"is-num\">31 650<\/td><td class=\"is-num\">36 225<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">New investments (MNOK)<\/td><td class=\"is-chars\">2 784\t<\/td><td class=\"is-chars\">3 600\t<\/td><td class=\"is-chars\">3 511\t<\/td><td class=\"is-chars\">4 015\t<\/td><td class=\"is-chars\">4 839\t<\/td><td class=\"is-num\">5 320<\/td><td class=\"is-num\">6 513<\/td><td class=\"is-num\">6 487<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Number of direct investments in portfolio<\/td><td class=\"is-num\">124<\/td><td class=\"is-num\">136<\/td><td class=\"is-num\">149<\/td><td class=\"is-num\">163<\/td><td class=\"is-num\">170<\/td><td class=\"is-num\">198<\/td><td class=\"is-num\">226<\/td><td class=\"is-num\">230<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Capital allocated by the owner (MNOK)<\/td><td class=\"is-chars\">1 478\t<\/td><td class=\"is-chars\">1 500\t<\/td><td class=\"is-chars\">1 690\t<\/td><td class=\"is-chars\">1 905\t<\/td><td class=\"is-chars\">1 820\t<\/td><td class=\"is-num\">1 680<\/td><td class=\"is-num\">2678<\/td><td class=\"is-num\">2 678<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Number of employees in Norfund<\/td><td class=\"is-num\">69<\/td><td class=\"is-num\">71<\/td><td class=\"is-num\">75<\/td><td class=\"is-num\">82<\/td><td class=\"is-num\">96<\/td><td class=\"is-num\">111<\/td><td class=\"is-num\">113<\/td><td class=\"is-num\">134<\/td><\/tr><tr class=\"header\"><td class=\"is-chars\">Development Mandate<\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Committed portfolio (MNOK)<\/td><td class=\"is-num\">16 762<\/td><td class=\"is-chars\">20 439\t<\/td><td class=\"is-chars\">22 253\t<\/td><td class=\"is-chars\">24 944\t<\/td><td class=\"is-chars\">28 352\t<\/td><td class=\"is-num\">26 924<\/td><td class=\"is-num\">29 516<\/td><td class=\"is-num\">32 468<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">New investments (MNOK)<\/td><td class=\"is-chars\">2 784\t<\/td><td class=\"is-chars\">3 600\t<\/td><td class=\"is-chars\">3 511\t<\/td><td class=\"is-chars\">4 015\t<\/td><td class=\"is-chars\">4 839\t<\/td><td class=\"is-num\">5 320<\/td><td class=\"is-num\">4 540<\/td><td class=\"is-num\">4 873<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Return on invested capital (IRR)  (inv. currency)*<\/td><td class=\"is-num\">2.9%<\/td><td class=\"is-num\">14%<\/td><td class=\"is-num\">4.6%<\/td><td class=\"is-num\">6.3%<\/td><td class=\"is-num\">-0.1%<\/td><td class=\"is-num\">5.2%<\/td><td class=\"is-num\">5.1%<\/td><td class=\"is-num\">1.8%<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Number of direct investments in portfolio<\/td><td class=\"is-num\">124<\/td><td class=\"is-num\">136<\/td><td class=\"is-num\">149<\/td><td class=\"is-num\">163<\/td><td class=\"is-num\">170<\/td><td class=\"is-num\">195<\/td><td class=\"is-num\">219<\/td><td class=\"is-num\">219<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">KPI: Share of investments in least developed countries<\/td><td class=\"is-chars\">33%\t<\/td><td class=\"is-chars\">36%\t<\/td><td class=\"is-chars\">41%\t<\/td><td class=\"is-chars\">40%\t<\/td><td class=\"is-chars\">39%\t<\/td><td class=\"is-num\">40%<\/td><td class=\"is-num\">37%<\/td><td class=\"is-num\">38%<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">KPI: Share of investments in Sub Saharan Africa<\/td><td class=\"is-num\">52%<\/td><td class=\"is-chars\">50%\t<\/td><td class=\"is-chars\">55%\t<\/td><td class=\"is-chars\">53%\t<\/td><td class=\"is-chars\">53%\t<\/td><td class=\"is-num\">65%<\/td><td class=\"is-num\">63%<\/td><td class=\"is-num\">64%<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">KPI: Share of equity and indirect equity<\/td><td class=\"is-chars\">85%\t<\/td><td class=\"is-chars\">85%\t<\/td><td class=\"is-chars\">81%\t<\/td><td class=\"is-chars\">79%\t<\/td><td class=\"is-chars\">79%\t<\/td><td class=\"is-num\">75%<\/td><td class=\"is-num\">74%<\/td><td class=\"is-num\">71%<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">KPI: Renewable energy share of allocated capital &gt;50% (ended 2021)<\/td><td class=\"is-chars\">62%\t<\/td><td class=\"is-chars\">145%\t<\/td><td class=\"is-chars\">60%\t<\/td><td class=\"is-chars\">55%\t<\/td><td class=\"is-chars\">54%\t<\/td><td class=\"is-num\">40%<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">KPI: Renewable energy share of allocated capital &gt;60%<\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-num\">64%<\/td><td class=\"is-num\">68%<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Number of jobs in portfolio companies<\/td><td class=\"is-chars\">276 000\t<\/td><td class=\"is-chars\">292 000\t<\/td><td class=\"is-chars\">304 000\t<\/td><td class=\"is-chars\">380 000\t<\/td><td class=\"is-chars\">377 000\t<\/td><td class=\"is-num\">452 000<\/td><td class=\"is-num\">514 000<\/td><td class=\"is-num\">625 000<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Taxes paid by portfolio companies (BNOK)<\/td><td class=\"is-num\">10.9<\/td><td class=\"is-num\">9.3<\/td><td class=\"is-num\">13.9<\/td><td class=\"is-num\">14.1<\/td><td class=\"is-num\">16.9<\/td><td class=\"is-num\">16.9<\/td><td class=\"is-num\">23.2<\/td><td class=\"is-num\">33<\/td><\/tr><tr class=\"header\"><td class=\"is-chars\">Climate Mandate<\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><td class=\"is-chars\"><\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Committed portfolio (MNOK)<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">2 135<\/td><td class=\"is-num\">3 757<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">New investments (MNOK)<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">2135<\/td><td class=\"is-num\">1 614<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Number of direct investments in portfolio<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">-<\/td><td class=\"is-num\">7<\/td><td class=\"is-num\">12<\/td><\/tr><\/tbody><\/table><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>While total foreign direct investment to developing countries fell last year, Norfund committed almost NOK 6.5 billion, mirroring our record investment from the previous year.&nbsp;&nbsp; 2023 is the second year Norfund reports on both the Development Mandate and the Climate Mandate. For some key figures such as commitments and investments, we present both here, while [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":0,"parent":1303,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"hero","norfund_header_layout_image_id":8794,"norfund_header_layout_image_focal_point_x":0.46,"norfund_header_layout_image_focal_point_y":0.66,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Key figures","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","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>Key figures | Annual Report 2023<\/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-2023\/year-2023\/key-figures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key figures | Annual Report 2023\" \/>\n<meta property=\"og:description\" content=\"While total foreign direct investment to developing countries fell last year, Norfund committed almost NOK 6.5 billion, mirroring our record investment from the previous year.&nbsp;&nbsp; 2023 is the second year Norfund reports on both the Development Mandate and the Climate Mandate. 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