“As long-term institutional investors, we believe that the mitigation of climate change is essential for the safeguarding of our investments. We have previously conveyed our strong support for the Paris Agreement and we reiterate our call for governments to continue to support and fully implement the Agreement”.

Thus the letter, addressed to the G7 and G20 governments and signed by Nordea as one of 217 investors representing more than $15 trillion in assets, begins.

The letter builds on the 2016 global investor statement on climate change which was supported by 130 investors and the purpose is to highlight the importance of the Paris Agreement and urge for sustained climate action.

What is G7 & G20?

G7 is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The European Union is also represented within the G7. These countries are the seven major advanced economies. G20 is a group of twenty Finance Ministers and Central Bank Governors in 19 large economies and the EU.

Nordea is among other networks and initiatives part of the network Institutional Investors Group on Climate Change (IIGCC), the UN Principles for Responsible Investment (PRI) and the Carbon Disclosure Project (CDP).

Read the letter in its entirety here.