WELCOME ONBOARD
Photo: Vincent Tremeau, World Bank
Opening words
As I write to you today, the enormity of human catastrophe and conflict unfolding here in Europe is creating shock waves around the world. This is further exacerbated by the alarming state of our climate as attested by the latest IPCC report. Now more than ever, we must stand firm with our partners on our commitments to solving the global climate crisis.
Around the world, major disruptions to the global energy and food markets risk pushing millions of people back to poverty and further marginalising the climate agenda. Compounding this, in the wake of the pandemic, urgent adaptation and resilience spending is needed, particularly in many African countries, where NDF has a strategic geographical presence.
This pressing need for adaptation and resilience funding was high on the agenda at the UN Climate Change Conference COP26, in Glasgow in 2021, culminating in a joint target to double adaptation funding by COP27 in 2022. Our portfolio is fully aligned with this priority and brings forward examples of successful solutions for adaptation financing as well as catalytic impact.
During 2021, we developed several impactful climate projects together with our strategic partners. At the same time, we devoted time to creating our results management framework to help manage our portfolio and to ensure an optimal use of our funding now and in the future. This report is based on data from this new results management framework.
Here is a snapshot of some cumulative results from our 2021 active portfolio:
• more than 5 million people benefitting from climate and disaster-resilience and adaptation solutions. 50 % were women. • over 20 million people getting improved access to clean energy. 50% were women. • more than 28,000 jobs supported or created. 34% were for women. • more than 1 million people with increased capacities, improved skills and raised awareness on climate change related topics. Most of them were women. • unlocking over EUR 1 billion additional climate finance.
Each one of us at NDF is committed to supporting the global climate agenda by advancing Nordic leadership through strategic partnerships and flexible financing. My sincere thanks and appreciation go to the dedicated and competent staff of NDF, as well as to the supportive and engaged members of our Board of Directors.
I am strongly committed and motivated to continue working with all of you as we push forward in 2022.
Helsinki, 18 May 2022 Karin Isaksson Managing Director Nordic Development Fund
More than 5 million people benefiting from climate and disaster-resilience and adaptation solutions. 50 % were women.
Over 20 million people with improved access to clean energy. 50% were women.
More than 28,000 jobs supported or created. 34% were for women.
NDF's Managing Director, Karin Isaksson. Photo: NDF
Introduction
This report gives an update on progress and achievements in the work of the Nordic Development Fund (NDF), as well as a brief glimpse into the future.
In 2021, our active portfolio consisted of 46 projects at different stages: inception, full implementation and in completion, which our co-financing has contributed to. In this report we present both cumulative results from this active portfolio, as well as illustrations of 2025 projections. Cumulative results refer to results already achieved, whereas projections are estimates composed of aggregate projected targets to be achieved by 2025. Monitoring the full spectrum of projects builds the basis for seeing future trends and enabling adjustments where relevant.
NDF’s work builds on two main cornerstones: our values and our strategy. Guided by our Strategy 2025, NDF adopted in 2021 a new framework to facilitate results-based management, learning and performance improvement. This results management framework (RMF) builds on our Theory of change and serves as a platform for analysing performance trends, identifying underlying issues, and reflecting on agreed actions with stakeholders and strategic partners to advance our performance.
With this framework in place, we can now analyse and present portfolio level data, reflecting the direction and targets set in our Strategy 2025. These targets capture NDF’s climate mandate including the provision of concessional financing with a strong focus on climate adaptation in particular in low-income countries and countries in fragile situations.
Anchored in our Strategy 2025 and building on the indicators of the Sustainable Development Goals (SDGs), the framework demonstrates the interdependencies between climate and development outcomes and impact. Reference to the results management framework alignment with SDGs is illustrated in the Results and Impact in 2021 section of this report.
In this, our first data-based results report, our cumulative portfolio level results are accompanied by case examples to show how our funding adds value through our strategic activities, as well as how it contributes to advancing the global climate and development agenda. These results also highlight our contribution towards empowering women and girls through a variety of interventions, especially in Sub-Saharan Africa.
A financial overview of NDF’s work is available in our Annual Financial Report. All NDF’s projects are presented in our Project Database.
More than 1 million people with increased capacities, improved skills and raised awareness on climate change related topics, most of them women.
Unlocking over EUR 1 billion additional climate finance.
