Climate Investment Summit Convenes Leaders to Create an International Wave of Climate Commitments
The Climate Investment Summit convened international pension funds, investment managers, banks, project developers and government institutions to work across sectors to develop investable markets for climate solutions through joint public and private ambition.
At this years' Summit, Denmark’s financial sector reported on its internationally ambitious pension fund and asset manager climate commitments. Insurance & Pension Denmark reported that Danish pension funds have invested US$19 billion since their landmark commitment of investing US$50 billion by 2030 - made at the UN Climate Action Summit in 2019.
The Danish Investment Association also reported on their ambitious 2020 commitment of a 75% CO2 reduction in investment funds in 2030 offered to Danish private investors. They reported that since the start of this year, a 9 per cent reduction in the CO2 footprint was reached. Overall, the CO2 footprint of Danes' investments is now 22 per cent lower than the world indexes in 2020.
Both of these commitments and investments are helping to make sure regular citizens’ pension money and investment funds are working towards the achievement of the
Paris Agreement goals.
The Summit is part of the Climate Investment Coalition’s efforts to create an international wave of financial commitments, starting with an unprecedented US$50 billion commitment made by Danish pension funds in 2019, Nordic and UK commitments in 2021 and engaging with U.S and European investors to mobilise future commitments. The Coalition engages with the most ambitious climate finance stakeholders to mobilise financial commitments, tracks these investments yearly and shares best practices and strategies.
As we head towards one of the most historically important COP negotiations, the Climate Investment Coalition will bring new transformational financial commitments from the Nordic countries and UK to COP26 to support reaching the goals of the Paris Agreement and
a net-zero transition.
"COP26 is a pivotal moment in the fight against climate change but this momentum must carry on beyond November and in this decade. The Climate Investment Coalition aims to help drive an international wave of commitments by 2030 and most importantly, is systematically following up through annual reporting of the investments to ensure commitments are followed by action" Peter Damgaard Jensen, Co-Chair, Climate Investment Coalition and Member of the Board, World Climate Foundation