Annual Report 2022
Content
Year 2022
Letter from the CEO
Climate investment fund operational
Investing in a volatile world
New strategy for Development Mandate
Key figures
Portfolio overview
This is Norfund
How we make a difference
Norfund and the SDGs
Organisation and team
Additionality
A responsible investor
Environmental and social risk management
Governance and business integrity
Climate and environment
Gender
Business Support
Development Mandate
Creating jobs, improving lives
Financial results
Impact – Development Mandate
Jobs created
Increased energy access and supply
Access to finance
Emissions avoided
Tax revenues – Development Mandate
Investment areas
Renewable Energy
Financial Inclusion
Scalable Enterprises
Green Infrastructure
Frontier Facility
Exited companies
Climate Mandate
Investing in the transition to net zero
Investments 2022
Impact – Climate Mandate
Emissions avoided
Increased renewable energy supply
Jobs and taxes
Financial statements
Board of Directors’ Report and Annual Financial Accounts
Board of Directors’ report
Income Statement
Balance
Cashflow Statement
Notes
Auditor’s report
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Previous reports
2021
2020
2019
(pdf)
2018
(pdf)
2017
(pdf)
Note 3 – Exited investments