The Climate Investment Summit acted as a strong platform to accelerate the green transition through ambitious target setting activities and announcements focusing on climate finance and impactful collaboration between the public and private sector
Climate Investment Coalition Achievements
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.
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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.
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, declaring that by 2030, C02 emissions from investment funds must be 75% below the emissions of the world equity index (MSCI ACWI) in 2020.
First year tracking of the Danish pension fund commitment towards USD50 billion in green investments by 2030
CEO, Kent 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 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. Appearing at the meeting, Nordic pension fund CEO’salso announced their aim to mobilise collective commitments towards green investments by 2030.
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.