NorNAB(Norwegian National Advisory Board for Impact Investing), an independent,member-based organization dedicated to the growth and development of Norway’simpact investment ecosystem, announces the appointment of Karl Olav Sørensen asits first Chief Executive Officer (CEO). This strategic milestone aligns withNorNAB’s mission to enhance capital flows into impact investments, bothdomestically and internationally, to support the achievement of the UNSustainable Development Goals.
'HiringKarl Olav Sørensen as CEO is a significant milestone for NorNAB,' says EspenDaae, Chair of NorNAB and Investment Chief for Social Investments at FerdSocial. 'Since our founding on February 1, 2023, we have built a solidmembership base, and we now have a knowledgeable and enthusiastic leader tofurther develop the association and strengthen Norway’s impact investmentenvironment.'
A recentmarket survey conducted by Deloitte for NorNAB estimates Norway’s impactinvestment market at 100 billion NOK in 2023, highlighting a growing interestin the sector and strong indicators for continued growth. The report also showsthat many impact investors believe that these investments offer market-levelfinancial returns and, in some cases, outperform traditional investments.
Sørensenbrings 15 years of leadership experience in business development,sustainability, and innovation, having held senior positions at Amedia, SOSChildren’s Villages, and Virke. He is deeply convinced that technology andimpact investing are vital to addressing some of the world’s most pressingchallenges.
As CEO,Sørensen will work to unify Norway’s impact investment field by expandingNorNAB’s membership base, engaging stakeholders, and driving strategiccommunications. He will also oversee administrative tasks, public relations,and the development of NorNAB’s operational workflows.
'For me,there is hardly a more important job than increasing funding for theSustainable Development Goals. I believe Norway is well-positioned to lead inthis field, given the high level of expertise, motivation, and collaborativespirit in the impact investment community. Leading this effort on behalf ofcurrent and future members is a great privilege,' says Sørensen.
NorNABannounced the search for a CEO in November, with a recruitment process led byNorNAB Board Member and Chief Impact Officer at Norselab, Maria de Perlinghi.The process was conducted in partnership with Marte Sootholtet fromImpactStartup and Urs Bitterling from Cubera, both NorNAB members. 'Weconducted a thorough yet efficient process to secure the right candidate toelevate Norway’s impact investment ecosystem. We had many highly qualifiedapplicants, but Karl Olav stood out from the beginning as an exceptionallysuitable candidate. He demonstrated strategic insight, clear rolecomprehension, and strong decisiveness throughout the process. Karl Olav iswell-poised to make an outstanding impact for NorNAB, its members, and theentire impact investment ecosystem,' comments de Perlinghi.
NorNABlooks forward to leveraging Sørensen’s expertise and leadership to accelerategrowth in the impact investment market and help address global challenges. Sørensenwill assume his role as CEO on January 15, 2024.
