Achievements of Climate Investment Summit
Radical Collaboration to Achieve the SDGs - UAE representation
Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chief Executive of the UAE Independent Climate Change Accelerators (UICCA), emphasised the significance of collaboration for COP28. She highlighted blended finance as a crucial strategy, combining public and private funds for risk mitigation.
Blended Finance Funds from UK Government
The Rt Hon Lord Goldsmith announced the launch of a new strategy from the Private Infrastructure Development Group (PIDG). PIDG is an innovative developer and investor blending fund from the UK government and five other governments with private sector capital and expertise to develop and finance sustainable infrastructure in emerging markets.
Accelerating Carbon Credits
Bezos Earth Fund reinstated their Energy Transition Accelerator (ETA), in collaboration with the US Department of State and The Rockefeller Foundation. Futher it was announced that they will share the initial members of the group of corporate sovereign buyers of the ETA along with further commitments at COP28.
A 8-Point Financial Innovation Plan for Net-Zero Transition
The COP27 High-Level Climate Action Champion from Egypt presented closing remarks with an 8-point plan aimed at boosting financial innovation and mechanisms to enhance investments in emerging markets and developing economies. The plan underscored the necessity of combining new instruments with enhanced knowledge to ensure the financial sector's transparent and pivotal role in funding the net-zero transition.
Nordic and UK Pension Funds Pledge $130 Billion in Clean Energy and Climate Investment by 2030
At COP26 in Glasgow, Nordic and UK pension funds pledged US$130 billion towards clean energy and climate investments by 2030, promising yearly progress reports. The Climate Investment Coalition (CIC) highlights this commitment from Sweden, Norway, Finland, Denmark, Iceland, the Faroe Islands, the UK, and a supporting fund from Greenland, to boost global climate ambition and encourage worldwide climate investment for a green transition by 2030.
Danish Financial Sector Updates on 2030 Climate Commitments at Climate Investment Summit 2021
At the Climate Investment Summit 2021, significant updates were shared by the Danish financial sector on their 2030 climate commitments. Kent Damsgaard, CEO of Insurance & Pension Denmark, discussed the progress of Danish pension funds' DKK350 billion commitment made in 2019. Additionally, Peter Kjærgaard, Chairman of the Danish Investment Association, reported on their pledge to cut the CO2 footprint of investment funds for Danish private investors by 75% by 2030, relative to the 2020 world index.
Danish Investment Association Pledges 75% CO2 Cut in Funds by 2030 for Green Transition
At the Climate Investment Summit 2020, Peter Kjærgaard, Head of Nykredit Wealth Management, Chairperson 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 in 2020.
Danish Pension Funds Surpass Green Investment Goals, Eyeing $50 Billion Target Ahead of Schedule
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.
Nordic Leaders and Pension Funds Commit to Boost Green Finance by 2030
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.