A landmark US$130 billion announced at COP26 in commitments to be invested in climate before 2030

- To reflect the true public-private partnership, the commitment was announced by seven Heads of Government and State & seven Pension Fund CEOs

Bo Foged, CEO, ATP & Kent Damsgaard, CEO, Insurance & Pension Denmark

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

A key criterion for the financial commitments is the annual reporting to ensure that the financial commitments will be converted into actual investments. The reporting done until now has shown strong progress. The US$130 billion communicated towards climate investments by 2030 covers pledges from Danish, Nordic and UK investors.

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Key Focus Areas in 2022

The work of the Climate Investment Coalition continues on an international scale.

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

Accelerate Deployment of Capital in Existing and New CO2 Reducing Technologies

Green Investments in Emerging Markets & Developing Economies

Create Cross-Sector Investment Partnerships through Stakeholder Convening

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. 

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