2021 has ended with a Climate Investment Coalition supported unparalleled total collective commitment of US$130 billion to be invested in clean energy and climate investments by 2030. This was announced at COP26 by Nordic Heads of State and Government and CEOs of Nordic and UK pension funds. As part of this commitment, pension funds will also report annually on the progress of their climate investments.
This announcement comes out of a historic year for climate filled with continued uncertainties surrounding the COVID-19 pandemic, evolving net-zero roadmaps and transition plans, and the growing impact from the finance and private sector at COP26 in Glasgow. The Climate Investment Coalition (CIC) continued its unique efforts to mobilise impactful financial commitments from investors, report on previous commitments, share best practices and host an engaging roadmap of milestones leading to COP26.
More of CIC’s achievements in 2021 include:
In September, at the Climate Investment Summit, a founding partner of CIC, Insurance & Pension Denmark, reported that since 2020, the Danish insurance and pension industry has invested US$19 billion in the global green transition.
CIC lead a key focus track on Strengthening Transatlantic Partnerships on Investing in Climate Action, exploring the achievements and opportunities for collaboration across the Transatlantic to accelerate the mobilisation of capital for the net-zero transition.
Through its Transatlantic track, CIC collaborated with high-level public and private sector stakeholders, leading to New York City Comptroller, Scott Stringer presenting an announcement on New York pension funds’ commitment to achieve net-zero emissions by 2040 and a goal to double investments in climate change solutions to over US$8 billion by 2025 and achieve a total of over US$37 billion in climate solutions investments by 2035 across three funds.
Climate Investment Summit 2021
The Climate Investment Coalition hosted an in-person and digital, two-day Climate Investment Summit on September 7-8. Climate Investment Summit successfully showcased leading best practices, strategies and partnerships accelerating green investments to achieve the goals of the Paris Agreement.
Climate Investment Coalition in 2022 & Beyond
The Climate Investment Coalition will continue to catalyse investments for clean energy and climate solutions for direct and immediate impact on the Paris Agreement by 2030, working with the highest-level public and private sector leaders through:
Mobilising large-scale, international commitments for investments in climate solutions through public and private sector ambition loops to be invested by 2030.
Working with committing pension funds to report annually on the progress and amounts invested from their commitments.
Presenting successful green business models in various asset classes to support scaling investments in the green transition.
Supporting the shift of investor perspectives to the Global South, including financing adaptation and resilience and increasing climate finance in emerging markets and developing economies.
Hosting a roadmap of milestones and convenings to present key announcements, commitments and build high-level engagements between stakeholders to support increased climate ambition by 2030.
We are very thankful to our partners, speakers and participants who supported us throughout 2021 and look forward to continued positive collaboration.