Job creation
Jobs are vital to reducing poverty. Jobs generate income, are a basis for taxation, provide security, and can enable knowledge and skills development.
In the power sector, jobs are created both in the companies during construction and in the operations phase. Most importantly, a more stable power supply can enable businesses to increase their business output and thereby indirect job creation.
Norfund’s investments contribute both directly and indirectly to achieving SDG Target 8.5
Results in 2022
Norfund collects data on jobs in the portfolio companies and use the Joint Impact Model to estimate power enabled jobs. However, due to limited number of investments in the Climate Investment Fund by end of 2022, aggregate data on jobs are not publicly disclosed for the Climate Mandate.
Tax revenues
Norfund portfolio companies contribute to sustainable development by paying taxes and fees to the countries in which they operate.
Domestic resource mobilisation is one of the most important ways to facilitate sustainable development. A tax base provides governments with essential resources to spend on infrastructure and public services, such as health, education and social protection.
Norfund’s investments contribute both directly and indirectly to achieving SDG Target 17.1
Results in 2022
Norfund collects data on tax revenues from the portfolio companies. However, as the Climate Investment Fund became operational in 2022 and due to a limited number of investments, aggregate data on tax revenues are not publicly disclosed for the Climate Mandate.