Norges Bank Investment Management (NBIM) and the United Nations Children’s Fund (UNICEF) are collaborating on a new initiative highlighting how companies may impact children’s rights through digital activities.

NBIM, responsible for the investments of Norway’s Government Pension Fund Global, said the initiative aims to improve corporate reporting on impacts on children online.

NBIM noted that more than 175,000 children go online for the first time every day – a new child every half second – making it critical to focus on how children’s rights are impacted through digital technologies.

Although children can encounter a variety of risks online, meaningful access to digital technologies can also bring many positive opportunities. For example, children may be particularly susceptible to harmful advertising and misinformation campaigns, but on the other hand, safe digital environments that consider children’s perspectives and needs can help support and promote children's rights and well-being.

“The fund aims to create financial wealth for future generations, which is why respect for children’s rights is important for us. We’re excited to collaborate with UNICEF again and to continue our engagement with companies on children’s rights,” NBIM chief governance and compliance officer, Carine Smith Ihenacho, said.

Building on its previous collaborations with UNICEF and companies in the footwear and garment industry in 2017 and food retailers in 2020, it is now entering the third phase of its collaboration.

The new initiative will focus on children’s rights in the digital environment by producing a set of disclosures that aim to increase transparency on how companies impact children’s rights in the digital environment. Recognising the increased importance of digital technology across most industries, the ambition is for these disclosures to be relevant for all companies — across sectors and markets.

The aim is to foster discussion and raise the bar on transparency by producing a comprehensive set of child rights-based disclosures in relation to digital technologies that companies can lean on to support their reporting efforts.

To produce the set of disclosures, NBIM and UNICEF will take a collaborative approach and consult with a wide range of stakeholders, including companies, academia and civil society organisations, to understand current market practices and identify gaps that may exist.

NBIM and UNICEF expect to finalise and publish the set of disclosures in 2025.

“As a global investor in almost 9,000 companies, corporate reporting on sustainability efforts is key to our ability to gauge sustainability risks in our portfolio. This initiative will hopefully enable us as an investor to better understand the efforts companies are making to respect children’s rights in the digital sphere and address negative impacts,” Smith Ihenacho said.

---