The climate partnership for the financial sector hereby presents its action plan for how the partnership can contribute to Denmark reaching its goal of reducing its CO² emissions by 70 per cent by 2030. You can read the Action Plan here or download it as a PDF here
Financial sector companies will reduce their own greenhouse gas emissions by at least 70 per cent by 2030. However, the overall impact of this will be limited, as the financial sector’s own emissions are very small.
Therefore, the financial sector’s climate partnership believes that its most important task is to finance initiatives in other sectors on market terms. From providing loans to energy-saving initiatives in homes and to SMEs to the capitalisation of major energy infrastructure projects such as the expansion of offshore wind farms, the electrical grid and an energy island in the North Sea.
In addition, there will be venture capital for the expansion and scaling up of green technologies that, among other things, convert electricity to non-CO² propellants (Power-to-X) and reduces the climate footprint of the agricultural sector’s livestock farming.
The public sector plays an important part as purchaser, as a tenant of buildings and as the project owner of major construction projects. Together with private sector partnerships, the public sector can contribute to a noticeable reduction of CO² emissions by, for example, involving the financial sector in public-private partnership solutions.
The climate partnership for the financial sector has held workshops with and gathered information from the other 12 climate partnerships. We would like to thank the participants for the positive and open collaboration which has been an invaluable factor in getting the necessary overview of the challenges - and not least, the possible means of solving them.
We look forward to continuing this positive collaboration to examine solutions that can help Denmark collectively to meet its targets for the sustainable transition.
The financial sector’s climate partnership includes Insurance & Pension Denmark, Finance Denmark, DVCA and The Danish Association of Investment Firms.