What could this look like for Norway? First, it can mean putting the knowledge that exists in Norway to new use in defining social and financial impacts. Norway can build on its existing capacity just as Norway built its own oil and gas industry and now exports key knowledge and technology.
Second, existing networks can create the foundation for new ways of working and new institutions. Norwegians have worked together before to prosper in the wake of the occupation and to build the modern country. This is about prospering in the wake of global challenges and building the modern world.
Third, we need working sessions to surface a full-suite impact investing deal, and to grapple with the challenges in pricing risk, measuring social impact and co-investing across sectors. As a result, new groups within existing institutions and new institutions will arise to do this work.
Norway can be a global hub to do impact investing for Norway and from Norway. Stable Norwegian and multi-lateral institutions that benefit Norway and the world. Norway can be the modern world financial center for impact investing.
As a Norwegian American, a business leader and former State Department official, I have seen up close what Norway has done at home and around the world.
With so many others, my grandfather left Norway, a country he truly loved, for a quite unknown world full of adventure and hope. He had dreams that his grandchildren would have stable and prosperous lives. And like so many of the descendants of Norwegian American immigrants, his dreams were realized. What a generation—those that reist.
What a generation—those that stayed. The leaders during the war. The leaders who after the war, built modern Norway by raising the standard of living in the little mountain valleys, up the fjords, through the towns and cities across the whole country in ways that endure today. And then these leaders used their experience to work in Africa and around the world to raise living standards. What a generation.
Today we face new challenges and we need new leadership. This is the time for this generation of Norwegians to lead so. Creating new global financial institutions is a vital way to respond to the challenges of climate change and global distress. Meeting this challenge secures the future for the generations to come—prosperity and stability and, given climate change, survival.
Vi star klar.