Ingunn Ettestøl is newly appointed Director of ESG at Arendals Fossekompani. She is also a Board Member of GCE NODE.

“We are keen on investing in the Agder region, in companies that promote sustainability,” says Ingunn Ettestøl, ESG Director at Arendals Fossekompani and board member of GCE NODE.

As the sole Board Member with work experience related to sustainability, Ingunn Ettestøl (47) hopes to contribute to increased focus on ESG (Environment, Social, Governance) at GCE NODE.

Ettestøl is newly appointed Director of ESG at Arendals Fossekompani, following three years as Vice President Business Development for the same company, and Board Member of three of its subsidiaries. She is a former Director for Strategy and Analysis at the governmental climate and environment agency Enova, and Director for Wind Power at utility Agder Energi.

Arendals Fossekompani (AFK) is an industrial investment company that invests in energy and technology related companies with an international market potential. AFK is the majority owner of companies with more than 2,100 employees in 27 countries. For more than 100 years, AFK has been a producer of hydro power from two power plants. Founded in 1896, AFK has been listed on Oslo Stock Exchange (OSE) since 1913.

AFK is a company which for almost 125 years has had renewable energy at the heart and center of all activities, yet the company just recently established a new ESG strategy. How does this effect future investments?

“We have a clear focus on digital technology that enables a more sustainable tomorrow. We are keen on investing in the Agder region if we find companies that promote sustainability,” says Ettestøl – and continues:

“Investments in the oil and gas sector are non-compatible with our investment strategy. However, we do believe that competence and technology from the oil and gas sector will be essential for developing new and more sustainability-oriented businesses in the ocean space,” says Ettestøl.

At the Annual Meeting in 2019, Ettestøl was elected Board Member of GCE NODE.

“My biggest contribution will be in the fields of renewable energy and sustainability. I am also experienced in dealing with governmental organizations and policy makers,” says Ettestøl.

Arendals Fossekompani, by far the largest company in the Eastern part of Agder, has shown interest in participating in networks and organizations that promote the development of the region. This is, in part, the reason for Ettestøl’s entrance into the board of GCE NODE.

“GCE NODE has been and will continue to be of importance in bringing forward essential industry information and points-of-view to politicians and governmental bodies. This has been especially important in recent months during the Covid-19 pandemic. NODE is also an important instrument for promoting Agder as a region of high competence and world-class solutions, and as an exciting place to work and live – hopefully attracting young talent to our region,” says Ettestøl.