A new key biodiversity platform for cross sectoral collaboration
For its inaugural launch, World Biodiversity Summit will help define what world leaders and the private sector in biodiversity and climate action need to do in the medium and long term to achieve sustainable development and hinder further biodiversity loss, focusing on partnerships and investment mechanisms as levers of progress. World Biodiversity Summit is a platform for responding to accelerating biodiversity loss, by using the Paris Agreement as a framework to learn from, promoting relevant solutions, innovations, and leadership networks, strengthening nature restoration and conservation. Nature-based solutions will be highlighted, from specificecosystems to global possibilities.
First year tracking of the Danish pension fund commitment towards USD50 billion in green investments by 2030
Insurance & Pension Denmark CEO, Ken Damsgaard reported that Danish pension funds have invested $8 billion in green projects since the 2019 Climate Action Summit in New York. This far exceeds earlier expectations and could lead to Danish pension funds reaching their $50 billion green investment target three years ahead of schedule.
US$130 billion
announced at COP26 in commitments to invest in climate by 2030
COP26 Announcement, from left to right: Bárður á Steig Nielsen, Prime Minister of the Faroe Islands; Sauli Niinistö, President of Finland; Stefan Löfven, Former Prime Minister of Sweden; Katrín Jakobsdóttir, Prime Minister of Iceland; Mute B Egede, Premier of Greenland; Mette Frederiksen, Prime Minister of Denmark; Jonas Gahr Støre, Prime Minister of Norway
In 2021, the Climate Investment Coalition convened leading institutional investors, governments and other stakeholders in climate finance to help mobilise a total collective commitment of US$130 billion from Nordic and UK pension funds, to be invested in clean energy and climate investments by 2030. As part of this commitment, pension funds will also report annually on the progress of their climate investments. Nordic Heads of Government and State were present at the announcement of US$130 billion climate commitments by 2030 at COP26.
Commitments for Climate Investment by 2030
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2019: US$55 billion commitment to green investments in clean energy made by Danish pension funds, to be invested by 2030 and reported on annually
2021: US$130 billion collective commitment announced at COP26 from pension funds in Denmark, Norway, Sweden, Finland, Iceland, the Faroe Islands and the UK to be invested by 2030 and reported on annually
2022: Continued outreach and commitments for climate investments by 2030 from UK, EU, US and other
Nordic Heads of Government and State present at the announcement of
US$130 billion climate commitments by 2030 at COP26
!["I welcome very much the Climate Investment Coalition [...] I think pension funds fit here [COP26] beautifully, their work is for the future and investments in the future."](https://static.wixstatic.com/media/d40a09_43cabd7fb08046c4b871ef212fe00102~mv2.jpg/v1/fill/w_1768,h_944,q_90/d40a09_43cabd7fb08046c4b871ef212fe00102~mv2.webp)
!["The Climate Investment Coalition sends a strong signal to the rest of the world leaders and the private sector here at COP26, it showcases [...] what leadership is all about, public and private cooperation is paramount if we shall combat manmade climate changes and the private sector must take a share of the responsibility."](https://static.wixstatic.com/media/d40a09_e6d73d4d124f41b58b56c48e6247fa61~mv2.jpg/v1/fill/w_1768,h_944,q_90/d40a09_e6d73d4d124f41b58b56c48e6247fa61~mv2.webp)
Key focus areas in 2022
Investment Roadmap to COP27
Engage with governments, investors, business and civil society to mobilise climate finance and solutions in green investments to reach 2030 climate targets and support the net-zero transition.
Mobilise & Report on Climate Investments Globally
Implement Best Practice Business Models for Climate Investments
Create Cross-Sector Investment Partnerships through Stakeholder Convening
Green Investments in Emerging Markets & Developing Economies
Background
In 2020, the Climate Investment Coalition engaged with Nordic, European and UK governments and institutional investors to increase green investments to achieve the net-zero transition. A process to mobilise commitments in the Nordics was launched in October 2020 together with Nordic pension fund CEOs at a Prime Minister’s meeting (N8) where Nordic leaders also announced their intent to encourage Nordic institutional investors to scale-up green finance and investments towards 2030.
The Climate Investment Coalition was established on the back of Danish pension funds’ 2019 conditional commitment of USD 55 billion towards clean energy and climate-related investments by 2030, announced at the UN Secretary General’s Climate Action Summit, by the Government of Denmark; Insurance and Pension Denmark; the Institutional Investors Group on Climate Change (IIGCC) and World Climate Foundation.