"Meaningfulness” is the expression of Norselab’s proprietary impact philosophy and frameworks. To us, the most meaningful way of contributing to a sustainable future is to back companies with a product-driven net positive impact, and that target resource-intensive industries, where the impact potential is the greatest. Our Meaningfulness Policy is our pledge to contribute to a meaningful future for all.
1. Purpose of the Policy
Our Meaningfulness Policy aims to provide transparency, predictability, and accountability for all stakeholders concerning the responsible and sustainable investment practices across all funds and entities linked to Norselab Investment Management AS.
2. Ownership and responsibilities
The CEO of Norselab is ultimately responsible for our compliance with the principles of this policy.
The Partner in charge of Impact and Communications is responsible for creating awareness and understanding of the Meaningfulness Policy, laying out strategies, processes, and resources to enable compliance with the policy, as well as ensuring the policy is reviewed and updated at least annually to reflect industry-leading practices.
The Product Governance Committee is responsible for securing that all investment-related processes and -decisions are compliant with the policy.
3. Overarching philosophy
Let’s create a meaningful future for all.
The commitment to this vision is at the heart of Norselab and every single one of its employees. We share the firm belief that, in our future world, there is no such thing as a successful business without a healthy planet, thriving societies, and prosperity for all living creatures.
We are not here to mitigate problems; we are here to spark systemic change. In all our dealings, we are driven by “meaningfulness” – our overarching impact philosophy. At Norselab, we invest capital and competence in net positive companies that contribute to transforming resource-intensive, global industries through their core products and services. It’s about driving change where it’s most urgently needed.
We define impact as a significant contribution to the achievement of the focus areas set forth in the UN Sustainable Development Goals (SDGs). The SDGs are a globally recognized roadmap for designing a future where economic growth does not compromise the safekeeping of our planet and the well-being of people and societies.
They provide a comprehensive map of risk and opportunity - and thus a solid strategic prism through which we can meaningfully and successfully invest in new, growing, and established businesses.
Moving away from a superficial, incremental approach to sustainable investments, we make it our mission to back companies with net positive contributions to the SDGs. We believe in identifying and shaping businesses that are impact native; companies that create more positive impact with every new customer or user. Impact native companies showcase an intrinsic tie between profit and positive impact.
Our watchword is integrity; when we assess potential investments, we systematically apply multiple impact lenses to build the full picture of a company’s impacts. Our goal is to provide the best possible foundation for decision-making and create awareness of the entire range of positive and negative impacts of a company. We wish to invest solely in companies that contribute to creating a meaningful future for all. Only through awareness can we do that.
As a fiduciary to our clients, we are responsible for advancing the best interest of our clients, and we believe that impact native companies are best positioned to create long-term value for our clients and all our stakeholders
We fully recognize our responsibility for contributing to the achievement of a sustainable future for all and the vast opportunities that will arise as we embrace this responsibility.
4. Reference principles
We adhere to the ethical principles of the UN Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption;
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights;
Principle 2: Make sure that they are not complicit in human rights abuses.
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
We also subscribe to the UN’s Principles on Responsible Investment (PRI):
Principle 1: We will incorporate ESG issues into investment analysis and decision-making processes.
Principle 2: We will be active owners and incorporate ESG issues into our ownership policies and practices.
Principle 3: We will seek appropriate disclosure on ESG issues by the entities in which we invest.
Principle 4: We will promote acceptance and implementation of the Principles within the investment industry.
Principle 5: We will work together to enhance our effectiveness in implementing the Principles.
Principle 6: We will each report on our activities and progress towards implementing the Principles.
Our 10 principles for meaningful investments
To align with our philosophy and deliver on our commitments, we practice principles for responsible and sustainable investments that go beyond the requirements of the aforementioned references; we call them principles for meaningful investments. We hereafter set forth the ten principles to which we hold ourselves responsible, and which all stakeholders can expect us to respect and fulfill.
Principle 1: The Sustainable Development Goals (SDGs) are our North Star. Through all our dealings, we will strive to create a net positive impact with the SDGs as a strategic framework.
Principle 2: We aspire to lead the way in our industry in how impact assessments permeate investment analyses, investment processes, and decisions. Integrity and rigor will be central to our approach, and we will strive for a best-in-class combination of qualitative and quantitative lenses and frameworks in our assessments.
Principle 3: We adopt a long-term perspective and will only invest in impact native companies. Positive impact should be at the core of their revenue-generating products or services in such a way that the adoption of their products or services creates positive contributions to the SDGs.
Principle 4: We will refrain from investing in companies with a significant negative impact on any of the SDGs.
Principle 5: We are active owners and will work proactively with our portfolio companies to promote strategies aligned with the SDGs and implement relevant measuring and reporting schemes for impact.
Principle 6: We will hold our portfolio companies accountable through their impact metrics just as much as their financial indicators.
Principle 7: We expect portfolio companies to comply with all applicable laws and regulations as well as the ethical principles of the UN Global Compact, in addition to the principles set forth in this policy, when relevant. Should a company willingly breach these principles - or prove unable to comply with these principles - Norselab will as a last resort refrain from continued participation.
Principle 8: Through our communications, we will strive to provide market-leading transparency on how we integrate impact considerations into our processes. We will publish a Meaningfulness report annually, accounting for our impact and our progress in delivering on this policy.
Principle 9: We will strive to be at the forefront of our industry in adopting best-in-class measuring and reporting tools and routines.
Principle 10: We will assiduously promote our approach to meaningful investments in the investment community to increase the acceptance, adoption, and desirability of investments that help advance the SDGs.