The Climate Investment Coalition (CIC) took a first important step on its 2020 roadmap at the Nordic Council’s Climate and Environment Ministers Meeting, when the Danish Minister of Climate, Energy and Utilities chaired a Roundtable discussion between Nordic governments and institutional investors on climate investment mobilisation in the coming years. Focus for the discussion was not only on how to solve the climate crisis but also how institutional investors can contribute to the recovery of pandemic affected economies in a climate-friendly way.
In a pressrelease, Dan Jørgensen, Minister of Climate, Energy and Utilities in Denmark says:
“The political response to the economic crisis caused by the COVID-19 pandemic must reap the synergies between job creation and climate action. Huge amounts of money will be mobilised to boost our economies, and we must seize that as an opportunity to tip the scales from black to green. Institutional investors will play a key role in making the recovery a green one."
Niklas Ekvall, CEO AP4, participated in the discussions:
“The Covid-19 pandemic constitutes an enormous challenge for humanity and economic activity, but it will also in the next phase create an opportunity for politicians, regulators,investors and corporates to jointly address climate change and the transition to a sustainable world. Initiatives to implement a relevant system for global pricing of carbon emissions would be an extremely strong tool in this endeavour."
Nordic pension funds are among the largest in Europe, and participating in the Nordic Roundtable were Norwegian pension fund Storebrand, Swedish pension fund AP4 and Finnish pension fund Varma.
Climate Investment Coalition mobilises financial commitments from institutional investors towards green investments and shares best practice business models and enabling framework conditions to stimulate global climate action towards 2030.
The Nordic Roundtable was a part of the Climate Investment Coalition’s roadmap to COP26, which includes a key steppingstone, the Climate Investment Summit, in Copenhagen later this year. This Summit will aim to catalyse private investments in the energy transition, highlight best practice business models and framework conditions, and promote green economic strategies for a post-pandemic economic recovery.
Through the CIC website you can find more information on key announcements by CIC, information on upcoming events in 2020 and currently collected best practice business examples, including investments towards clean energy infrastructure and investments into green bonds.
Partners behind the Climate Investment Coalition are the Government of Denmark, Institutional Investors Group on Climate Change (IIGCC), Insurance & Pension Denmark and World Climate Foundation.