“Ensuring a just expansion of clean energy in emerging markets is critical for delivering on our common climate goals, and the current geopolitical situation has only made it even more urgent. We have invested in several projects in developing countries through partnerships with other Danish pension funds and the Danish government and we are more than ready to invest even further to meet the commitment we made for 2030. But we need to make the investment opportunities more accessible and remove some of the red tape if we truly want to accelerate climate investments in emerging markets.” Jon Johnsen, CEO, PKAMore information:
The Climate Investment Coalition (CIC) is a public-private partnership that catalyses financial commitments into green investments to be deployed by 2030. It supported the mobilisation and announcement of a total collective commitment of US$130 billion from pension funds at COP26 in Glasgow in November 2021. This announcement was presented by Nordic Heads of State and Government and CEOs of Nordic and UK pension funds, to be invested in clean energy and climate solutions by 2030 and reported on annually.
Committing pension funds in 2019: Members of Insurance & Pension Denmark.
Committing pension funds in 2021: Almenni Pension Fund, ATP, Bank Employees’ Pension Fund, The Pension Fund for Reykjavík City Employees, Birta Pension Fund, Brú Pension Fund, Environment Agency Pension Fund, Festa Pension Fund, Frjálsi Pension Fund, Gildi Pension Fund, Greater Manchester Pension Fund, Ilmarinen, KLP, Lifsverk Pension Fund, Lív Group, LSR – Icelandic Pension Fund for State Employees, Merseyside Pension Fund, Nest Pension, Pension Fund of Commerce, Skandia, SL The General Pension Fund, SPP, Stapi Pension Fund, Storebrand Group, Varma Mutual Pension Insurance Company.
2021 commitments comprise of investments in*:
Equity investments – Listed
Equity Investments – Unlisted
Green Energy Infrastructure – OECD
Green Energy Infrastructure – Emerging Markets
Green bonds and debt
Climate-friendly investments in properties, etc.
Other investments / unallocated
*3.4% of the total 2021 commitment is to be invested in ’empowerment’. We have included this amount in close discussion with the pension fund and will report on it yearly.
The Climate Investment Coalition continues its investment roadmap to COP27 and COP28 in support of the OECM and are engaging with global organisations, initiatives and stakeholders leading the change in catalysing the net-zero economy.
The World Climate Foundation is proud to act as Secretariat to the Climate Investment Coalition. Connect with us to engage on a journey towards a better future together at info@climateinvestmentcoalition.org
Contacts
Marie Lendelova, marie.lendelova@worldclimatefoundation.org, +45 31 53 49 88
Pauline Ledermann, pauline.ledermann@worldclimatefoundation.org, +45 40 83 04 97
The following files are available for download:
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