NorNAB(Norwegian National Advisory Board for Impact Investing), an independent, member-based organization dedicated to the growth and development of Norway’s impact investment ecosystem, announces the appointment of Karl Olav Sørensen as its first Chief Executive Officer (CEO). This strategic milestone aligns with NorNAB’s mission to enhance capital flows into impact investments, both domestically and internationally, to support the achievement of the UN Sustainable Development Goals.
'HiringKarl Olav Sørensen as CEO is a significant milestone for NorNAB,' says Espen Daae, Chair of NorNAB and Investment Chief for Social Investments at Ferd Social Entrepreneurs. 'Since our founding on February 1, 2023, we have built a solid membership base, and we now have a knowledgeable and enthusiastic leader to further develop the association and strengthen Norway’s impact investment environment.'
A recent market survey conducted by Deloitte for NorNAB estimates Norway’s impact investment market at 100 billion NOK in 2023, highlighting a growing interest in the sector and strong indicators for continued growth. The report also shows that many impact investors believe that these investments offer market-level financial returns and, in some cases, outperform traditional investments.
Sørensen brings 15 years of leadership experience in business development,sustainability, and innovation, having held senior positions at Amedia, SOS Children’s Villages, and Virke. He is deeply convinced that technology and impact investing are vital to addressing some of the world’s most pressing challenges.
As CEO ,Sørensen will work to unify Norway’s impact investment field by expanding NorNAB’s membership base, engaging stakeholders, and driving strategic communications. He will also oversee administrative tasks, public relations, and the development of NorNAB’s operational workflows.
'To me, there is hardly a more important job than increasing funding for the Sustainable Development Goals. I believe Norway is well-positioned to lead int his field, given the high level of expertise, motivation, and collaborative spirit in the impact investment community. Leading this effort on behalf of current and future members is a great privilege,' says Sørensen.
NorNAB announced the search for a CEO in November, with a recruitment process led byNorNAB Board Member and Chief Impact Officer at Norselab, Maria de Perlinghi.T he process was conducted in partnership with Marte Sootholtet fromI mpactStartup and Urs Bitterling from Cubera, both NorNAB members. 'We conducted a thorough yet efficient process to secure the right candidate to elevate Norway’s impact investment ecosystem. We had many highly qualified applicants, but Karl Olav stood out from the beginning as an exceptionally suitable candidate. He demonstrated strategic insight, clear role comprehension, and strong decisiveness throughout the process. Karl Olav is well-poised to make an outstanding impact for NorNAB, its members, and the entire impact investment ecosystem,' comments de Perlinghi.
NorNAB looks forward to leveraging Sørensen’s expertise and leadership to accelerate growth in the impact investment market and help address global challenges. Sørensen will assume his role as CEO on January 15, 2024.
