Invested through
  • Triodos Impact Mixed Fund - Defensive
  • Triodos Impact Mixed Fund - Neutral
  • Triodos Impact Mixed Fund - Offensive
  • Triodos Euro Bond Impact Fund
  • Triodos Multi Impact Fund
  • Triodos Impact Strategy Fund - Defensive
  • Triodos Impact Strategy Fund - Balanced
  • Triodos Impact Strategy Fund - Offensive
Asset ClassesCorporate bonds
Impact strategyImpact Equities and Bonds
Bloomberg tickerTEL NO
ISIN codeNO0010063308
Industry groupTelecommunication Services
Aligned with SDGs
  • No poverty
  • Quality Education
  • Gender Equality

Telenor is a leading telecommunications company, operating through multiple brands in The Nordics and Asia. In The Nordics the company provides mobile, broadband and TV services. In Pakistan, Bangladesh, Myanmar, Thailand and Malaysia, the company provides mobile services and mobile financial services. The revenue split between The Nordics and Asia is about 50-50. In total, Telenor has around 180 million mobile subscriptions and has more than 18,000 employees. Telenor was founded in 1855 and is majority-owned by the Norwegian government.

Investment rationale

Telecommunications technology enables people to connect with each other which is key for inclusion and empowerment in this increasingly digital society. As a leading and global telecommunications company Telenor’s core products enable connectivity through mobile phone and internet connections. The COVID-19 pandemic has shown how essential good mobile phone and internet connections are, whether it be for working from home, home schooling, teleconferencing, e-commerce and staying in touch with each other.

Besides that, Telenor operates in several Asian markets such as Pakistan, Bangladesh, Myanmar, Thailand and Malaysia, where mobile connection is less evident as mobile penetration is much lower than in Western European countries. In these countries, a mobile phone is the main entry to the digital society and increasingly basic services such as healthcare, financial services and education are provided through mobile connections. The company actively improves digital inclusion by providing connectivity to local communities and vulnerable groups. It also actively provides training to customers to improve (children) online safety and digital literacy.

Telenor aims to reduce its GHG emissions in line with the Paris Agreements trajectory of a 1.5 degree increase and aims to become carbon neutral in its Nordic operations by 2030.