Reaching the goals of the Paris Agreement will demand substantial finances. To support the green transition, the Nordic leaders, together with private investment funds, announced US$130 billion in collective commitments towards clean energy and climate investments by 2030 mobilised by Nordic & UK pension funds at the Nordic Pavilion at COP26 in Glasgow.
At the event Danish Prime Minister, Mette Frederiksen, President of Finland H.E Sauli Niinistö, Prime Minister of the Faroe Islands, Bárður á Steig Nielsen, Premier of Greenland, Mute B Egede, Prime Minister of Iceland, Katrín Jakobsdóttir, Prime Minister of Norway Jonas Gahr Støre and Prime Minister of Sweden Stefan Löfven were present.
A coalition strengthened by the Nordic co-operation
The Nordic Co-operation has previously facilitated and supported the engagement of Nordic pension funds in the Climate Investment Coalition. An engagement that, under the Danish leadership of the Nordic Council of Ministers, has grown to include UK pension funds as well, to reach a total collective commitment of 130 billion USD by 2030.
The Nordic Council of Ministers furthermore finances part of the project. The financial support goes to continued outreach via the Climate Investment Coalition to additional pension funds and institutional investors, to get them onboard.
We are stronger when we work together. When the Nordic leaders announce a joint support for at coalition like this, between public and private investors, we can see the true value of the Nordic co-operation. Engagement of institutional investors and private sector climate finance is pivotal in addressing the climate task ahead of us and to reach our vision of becoming the most sustainable region in the world by 2030.
Join the conversation at COP26
Thursday November 11th is Finance Day at the Nordic Pavilion in Glasgow and the Nordic COP26 Hub in Helsinki. See the full program of the day at our website.
Watch all events online
No accreditation to COP26? Don’t worry. You can follow the debate online through the streaming hub at We Don’t Have Time.