In Norway, there is a national framework that facilitates foreign purchases of Norwegian capital goods and services. Norway’s Export Credit Agency is constituted by GIEK (The Norwegian Export Credit Guarantee Agency) and Export Credit Norway (ECN), whose overall mandate is to promote Norwegian exports.
To illustrate GIEK’s success in exporting Norwegian environmental technologies solutions to the US, Borghardt presented Asker-based Cambi ASA, which by utilizing thermal hydrolysis technology, turns sewage sludge and organic waste into energy, biogas, and products. This technology was purchased by both the Washington Suburban Sanatory Commission and the Neuse River Resource Facility in North Carolina. According to Borghardt, GIEK’s role as guarantor was vital for the realization of the project since the parties were dependent upon GIEK’s risk-capacity.
Borghardt went on to explain the framework within which GIEK operates, listing sector specific initiatives, global initiatives, and international requirements, in addition to their mandate as defined by The Ministry of Trade, Industry and Fisheries. Echoing Gullberg’s statement about increased focus on social sustainability, Borghardt also referenced GIEK’s focus on human and labor rights.
As part of due diligence, partnering companies are assessed by GIEK in accordance with a set of sustainable criteria. According to Borghardt, businesses are becoming increasingly aware that compliance with these criteria presents a competitive advantage in the marketplace and urges companies to strive for sustainable solutions.