The Climate Investment Coalition is a public-private partnership founded by the government of Denmark, Insurance & Pension Denmark, Institutional Investors Group on Climate Change and World Climate Foundation to advocate for financial commitments into green investments.
At last year's COP26 conference, it announced the $130 billion commitment to invest in clean energy and climate solutions by 2030.
Pension funds and managers signing onto that commitment include Insurance & Pension Denmark members, ATP, Pension Fund for Reykjavik City Employees, Ilmarinen, KLP, Icelandic Pension Fund for State Employees, Pension Fund of Commerce, Skandia, SL General Pension Fund, SPP, Stapi Pension Fund, Storebrand Group and Varma Mutual Pension Insurance Co.
U.K. members include Environment Agency Pension Fund, Greater Manchester Pension Fund and Merseyside Pension Fund, according to a CIC news release.
"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," the news release said. Annual investment totals will be announced in the first quarter of 2023.
Insurance & Pension Denmark reported Wednesday that Danish pension funds have invested $9 billion in new clean-energy investments since July 2021 and are on track for new investments in emerging markets and developing economies, the release said.