{"id":6550,"date":"2023-04-18T12:09:03","date_gmt":"2023-04-18T10:09:03","guid":{"rendered":"https:\/\/\/?page_id=6550"},"modified":"2024-06-17T14:27:02","modified_gmt":"2024-06-17T12:27:02","slug":"emissions-avoided-development-mandate","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2023\/development-mandate\/impact-development-mandate\/emissions-avoided-development-mandate\/","title":{"rendered":"Avoided emissions"},"content":{"rendered":"\n

Scaling up generation of renewable energy in developing countries is crucial both for economic growth and development, as well as for mitigating climate change. Norfund\u2019s investments in renewable energy are contributing to bypassing traditional fossil fuel-based development pathways and building more sustainable and resilient energy systems<\/p>\n\n\n\n

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6.2<\/span> million tons<\/span><\/div>

avoided emissions in 2023 by projects financed under Norfund\u2019s development mandate (greenfield*)<\/p><\/div>\n\n\n\n

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Read about our development rationale<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n

*Greenfield refers to the capacity Norfund has helped finance the construction of<\/strong>. Hence, it excludes the capacity already installed in the portfolio companies at the time of the investment. <\/em><\/p>\n\n\n\n

Results 2023<\/h2>\n\n\n\n

In 2023, portfolio companies under the development mandate produced renewable energy corresponding to annually avoided emissions of 8.2 million tons of CO2e. Of this, 6.2 million tons of CO2e were avoided by greenfield projects. The latter is a significant increase from 4.5 million tons in 2022.<\/p>\n\n\n\n

The main contributors to the avoided emissions in Norfund\u2019s portfolio are large-scale producers of solar, wind and hydro power in South Africa, India, and Egypt.<\/p>\n\n\n

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