Norwegian Church Endowment

The Norwegian Church Endowment holds real estate and financial capital, which is invested across a range of asset classes such as equities, bonds and private equity and had a value of NOK 1.8 billion at the end of 2012.

DNV GL Broader view Themes

High Ethical Standards

The Norwegian Church Endowment fund has high ethical standards for its investments. The fund seeks to align and balance clear financial goals with the values of the Norwegian church. In 2003, the endowment fund adopted ethical guidelines outlining environmental, social and governance (ESG) criteria for the investments.

Implementation of Ethical guidelines

In 2011, the endowment fund turned to DNV GL to operationalize the guidelines and a long term, ongoing partnership was initiated. The responsible investment approach needed to take into account both high ethical standards and clear bottom line requirements. DNV GL developed an approach to implement the guidelines across six asset classes, taking into consideration the special features and environmental, social and governance risks related to each one. The method included assessing ESG risk and the performance of asset managers as well as underlying investments.

Securing Long-Term value

Through a combination of ethical criteria screening and active ownership, the Norwegian Church Endowment fund has reduced the ESG risks in its portfolio and is securing value over the long-term.