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.
The Climate Investment Coalition will act as a primary force in the world for mobilising financial commitments towards green investments for the coming decade
Announcements & Pledge Tracking
Pledge Tracking
The Climate Investment Coalition works directly with committing pension funds to ensure that commitments are being implemented, tracked and reported on annually, to ensure their progress to reach targets by 2030 or earlier. This work further disseminates thought leadership and, understanding and allocation of funds for investors and governments to guide and continue committing towards clean energy investments.
2021
US$130 billion in collective commitments towards clean energy and climate investments by 2030 mobilised by Nordic & UK pension funds
At COP26 in Glasgow, a collective financial commitment of US$130 billion was announced by CEOs of 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.
The Climate Investment Coalition (CIC) is pleased to communicate this commitment from asset owners in Sweden, Norway, Finland, Denmark, Iceland, the Faroe Islands and the UK, in an aim to contribute to increasing global climate ambition and spur the global uptake of climate investments for the green transition by 2030. In addition, a pension fund from Greenland has declared its support.
Major progress in reaching 2030 Climate Targets was announced by the Danish financial sector at the Climate Investment Summit
Two remarkable announcements took place at the Climate Investment Summit 2021, where the Danish financial sector reported on the progress of their financial commitments to 2030.
Kent Damsgaard, CEO of Insurance & Pension Denmark reported on the second-year tracking of the DKK350 billion conditional commitment made by Danish pension funds in 2019. Peter Kjærgaard, Chairman of the Danish Investment Association and Head of Wealth Management at Nykredit reported on the progress of the Danish Investment Association’s commitment made in 2020, to reach an ambitious 75% CO2 footprint reduction in investment funds offered to Danish private investors by 2030, compared to the world index in 2020.
2020
Groundbreaking announcement at the Climate Investment Summit
At the Climate Investment Summit 2020, Peter Kjærgaard, Head of Nykredit Wealth Management, Chairman of The Danish Investment Association announced an ambitious commitment to support private Danish citizens’ investments in the green transition. Finance Denmark, an association for banks, mortgage institutions, asset management, securities trading and and investment funds in Denmark, has declared that by 2030, C02 emissions from investment funds must be 75% below the emissions of the world equity index (MSCI ACWI) in 2020.
Danes have invested $160 million in funds offered by members of Finance Denmark. As a result of this target, a considerable portion of funds available to Danish citizens now can be invested in companies that are currently (or in the process of becoming) green.
The Nordic Prime Ministers back investment mobilisation from institutional investors in green recovery and climate action
Nordic Prime Ministers, at an N8 meeting in October, chaired by Danish Prime Minister Mette Frederiksen, announced their intent to encourage Nordic institutional investors to scale-up green finance and investments by 2030. The joint declaration stressed the urgency for mobilising private green investments and pointed to the interdependency of the public and private sector in meeting the goals of the Paris Agreement.
Appearing at the meeting, Nordic pension fund CEO’s also announced their aim to mobilise collective commitments towards green investments by 2030. Watch the video below to hear from pension funds CEO’s on the importance of public-private partnerships to mobilise green investments.
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See announcement-video
First year tracking of the Danish pension fund commitment towards USD50 billion in green investments by 2030
Insurance & Pension Denmark CEO, Kent Damsgaard reported at the Climate Investment Summit 2020, 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 in a year marked by a pandemic and financial uncertainty. If this pace continues, Danish pension funds will reach their $50 billion green investment target three years ahead of schedule.
2019
USD 50 billion announced by Danish pension funds in Sept 2019 in New York
Danish pension funds pledge to invest more than $50 billion in green assets over the next decade to fight climate change, as part of Denmark’s ambition to reduce greenhouse gas emissions by 70% in 2030. This conditional commitment is expected to represent 10% of assets under management by 2030.