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UK, Nordic Pension Funds Commit $130 Billion to Clean Energy, Climate Investments by 2030

02/11/2021 11:02am

Dow Jones News


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By Dominic Chopping

 

The Climate Investment Coalition said Tuesday that at COP26 in Glasgow a group of Nordic and U.K. pension funds collectively committed $130 billion to be invested in clean energy and climate investments by 2030.

The Climate Investment Coalition--established by the Government of Denmark, Insurance & Pension Denmark, the Institutional Investors Group on Climate Change and World Climate Foundation--said that as part of this commitment, pension funds will report annually on the progress of their climate investments.

"Governments have to do their part and commit to a new green future. But we also need private investors on board," Danish Prime Minister Mette Frederiksen said in a statement.

The move builds on a 2019 commitment by Danish pension funds to invest $55 billion in the green transition by 2030, she added.

The commitments comprise investments in listed and unlisted equity investments, green energy infrastructure in the OECD and emerging markets, green bonds and debt, climate-friendly investments in properties, among others.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

November 02, 2021 06:47 ET (10:47 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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