The Climate Investment Coalition will act as a primary force in the world for mobilising financial commitments towards investments in climate solutions this decade
Achievements & Announcements
The Climate Investment Coalition Releases Recommendations to Unlock Capital in Emerging Markets
The report Recommendations on Nordic Pension Fund Investments in Emerging Markets and Developing Economies is published in collaboration with the Nordic Council of Ministers. The report includes key recommendations from Nordic investors and successful case studies from the Climate Investment Coalition’s pension fund members with a focus on accelerating climate solution investments in emerging markets and developing economies.
Nordic Pension Funds Present Progress and Best Practices for Climate Investments in Emerging and Developing Economies at COP27
At COP27 in Sharm el-Sheikh, Egypt, the Climate Investment Coalition (CIC), in collaboration with the Nordic Council of Ministers, presented key investor recommendations to bridge the climate finance and investment gap by 2030 towards emerging markets and developing economies. This was made alongside an overview of Nordic pension fund progress within climate and clean energy investments in 2022.
Despite financial challenges and a volatile economic environment, the first wave of pension fund reporting in 2022 indicates that the Nordic pension funds are still on course to reach their target of US$130 billion by 2030. This is also the case for investments in emerging markets and developing economies.
Opening the London Stock Exchange With a Focus on Delivering Climate Investment Commitments by 2030
The Climate Investment Coalition (CIC) opened the London Stock Exchange on 28 June to celebrate the third edition of the Climate Investment Summit - a flagship event of London Climate Action Week 2022 that supports the acceleration of climate investments by 2030.
The Summit was CIC’s first major convening since COP26, welcoming globally recognised climate investment leaders at the London Stock Exchange, proving that investing in climate solutions and clean energy remains a key priority.
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 Climate Investment Summit
Two remarkable announcements took place at 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.
Groundbreaking Announcement at Climate Investment Summit 2020
Working closely with all investors, including asset managers, CIC supported an announcement at Climate Investment Summit 2020, where 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 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.
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 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.
US$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.