Renewable energy, financial inclusion, green infrastructure and scalable enterprises are the four main areas in which Norfund invests.

[citation needed] In July 2021, the Norwegian Government announced that it had decided to allocate NOK 10 billion over a period of five years for a new fund that will invest in renewable energy in developing countries with the aim of reducing greenhouse gas emissions.

Norfund was given responsibility to manage the Climate Investment Fund on behalf of Norway's Ministry of Foreign Affairs.

The fund will primarily prioritize eight countries; South Africa, India, Vietnam, Philippines, Cambodia, Sri Lanka and Bangladesh.

In total, 377,000 persons were employed world-wide in businesses where Norfund had invested, and the companies paid NOK 16.9 billion in local taxes in 2020.

On May 13, 2020, the fund revealed that it had been the victim of a cyberattack, which it referred to as "an advanced data breach", that took place on March 16, 2020.