Nordic pension funds want to increase climate investments in emerging markets and developing economies

Nordic pension funds want to increase climate investments in emerging markets and developing economies

SHARM EL-SHEIKH, Egypt /PRNewswire/ -- At COP27 in Sharm el-Sheikh, Egypt, the Climate Investment Coalition (CIC), in collaboration with the Nordic Council of Ministers, presented key investor recommendations to bridge the climate finance and investment gap by 2030 towards emerging markets and developing economies. This was made alongside an overview of Nordic pension fund progress within climate and clean energy investments in 2022.

Despite financial challenges and a volatile economic environment, the first wave of pension fund reporting in 2022 indicates that the Nordic pension funds are still on course to reach their target of US$130 billion by 2030. This is also the case for investments in emerging markets and developing economies, where new investments in climate solutions have continued to increase. The total, collective reporting of annual investments is expected to be announced in the first quarter of 2023.

Insurance & Pension Denmark reported today that Danish pension funds have invested US$9 billion in new clean energy investments since July 2021. This indicates that Danish pension funds are on track and well over halfway to reaching their 2019 commitment to invest DKK350 billion (today US$47 billion) by 2030. This is also the case for new investments in emerging markets and developing