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The Dutch cabinet recently announced the Climate Accord, to achieve the objective of 49% CO2 reduction by 2030 for the Netherlands. The joint financial sector – banks, insurance companies, pension funds and asset managers – supports this Climate Accord through the financial sector commitment.
The Dutch Climate Accord is a major push to achieve the goals of the Paris Agreement, and the commitment of the Dutch financial sector to this Accord is a signal that both investors and finance institutions are taking climate action. As an organization passionate about climate change and driven to take climate action, FMO fully supports the Accord and signs up to the financial sector commitment to fight climate change. The Dutch financial sector will start reporting on their climate impact from 2020 and will announce their action plans, including reduction targets, by no later than 2022, both for domestic and international investments.
Limiting global warming to 1.5 degrees
We believe that fighting climate change is one of the major challenges our world is facing and, every day, take climate action (Sustainable Development Goal 13) to help entrepreneurs mitigate or adapt to its consequences. At the start of 2017, we announced that we commit to the Paris Agreement and that we will align our portfolio with a pathway to limit global warming to 1.5 degrees, as we invest in emerging economies and developing countries where the impact of climate change is most severe. We recently proudly announced that a consortium of FMO, SNV, WWF-NL, and CFM won the tender to manage the Dutch government’s EUR 160 million Dutch Fund for Climate and Development (DFCD). This pioneering partnership of NGOs and financiers aims to help developing countries build climate resilient economies. Dutch businesses inspired by the Climate Accord and interested in making climate-smart investments in emerging markets can turn to FMO’s NL Business team, who are specialized in connecting entrepreneurialism and investment opportunities between the Netherlands and developing countries.