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.
Lake Turkana - PensionDenmark
In 2007 a group of international investors came up with the idea of establishing a wind park close to lake Turkana. 12 years later 365 wind turbines from Vestas are producing power to Kenya.
On average, the turbines deliver around 150,000 megawatt hours per month; approx. 15% of Kenya’s total electricity production.
The production of fossil-based energy is more than halved from around 230,000 MW hours in January 2018 to around 100,000 MW hours in January 2019.
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ASSET CLASS
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Stocks/equities - Unlisted
GREEN DIMENSIONS
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Energy production - Wind
CONTACT
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Jacob Therkelsen
Coordinator of International Partnerships
jth@pension.dk
VALUE IN US DOLLARS
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USD 740 million
EXPECTED MATURITY
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Lake Turkana Wind Project has a 20-year PPA with KPLC. The technology in use will most likely have become obsolete at that time (if not earlier).
LINKS
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Read more about Lake Turkana here
GEOGRAPHIC LOCATION
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Africa
FORM OF FUNDING
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Blended Finance: Danish Development Finance Institution and Pension Funds (incl. PensionDanmark) investment through Danish Climate Investment Fund: USD 250M.
PARTNERS
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Investment through the Danish Climate Fund, established in 2014 in collaboration with the Danish Ministry of Foreign Affairs, IFU, Pension Denmark, PKA, PBU, Dansk Vækstkapital and Aage V. Jensen Foundation.