Innovation Norway has taken a proactive role in the effort of steering companies towards thinking and acting in a more sustainable way. Today, about 50 percent of our total financial portfolio has an environmentally focused profile.
We believe the most promising opportunities for Norwegian companies can be found in the area of green innovation. But other social challenges also require sustainable answers, for example within the health and care sector. In the intersection between the public and private sectors, innovations can be created that can provide the basis for new business developments.
Norway has significant advantages compared with many other countries. We have strong business clusters whose expertise can be used to promote sustainability, and the petroleum sector's technology and expertise relating to the production and transportation of energy can be used in many other areas.
Investing in sustainability is both morally and socio-economically the right thing to do. It will also be commercially profitable.
Sustainability will be the red thread in everything we do at Innovation Norway now and in the future. We can promise you that we will ask questions about the company’s green profile, about the entrepreneurs socio-economically thinking and the willingness to contribute to a sustainable future for all of us. And we want to make the answers count.
Responsible business conduct
Innovation Norway expects its customers, partners and suppliers to maintain good business conduct in line with the internationally recognised frameworks established by the United Nations and the OECD. We have developed a guideline for ensuring responsible business conduct, and we emphasise that our customers, partners and suppliers: 1) Avoid injury (i.e. human rights abuses or harmful emissions) and has a 2) Responsible approach (i.e. conducting due diligence assessments of suppliers).
Read the guidelines
Innovation Norway may require documentation of the due diligence assessment and stakeholder dialogue. The following red flags are associated with an increased risk of violating the principles of responsible business conduct:
- Severe negative environmental impact
- Corruption risk
- Activities in low-cost countries
- Business ethical risk
In case you are aware of any activities by Innovation Norway or its partners that may be in violation of the guideline on responsible business conduct, please make use of our whistleblowing facility.