The Norwegian Sovereign Wealth Fund has recently agreed to divest from coalrelated investments. This could mean significantly more money becoming available for climate change adaptation projects, although nothing has been announced yet.
Climate relevance and economic justifications are the core screening criteria; however, while projects may satisfy these conditions, they may not be considered suitable or of sufficiently high-priority to warrant support.
In practice, many other factors are considered before NDF provides support. These include consistency with national development plans, contribution to poverty alleviation, and focus on gender issues. The proposed project should also show evidence of ownership and financial commitment by a co-financing development partner.
All grant decisions are made by the NDF’s Board of Directors.