Paris Alignment of Export Credit Agencies: Sweden

Perspectives Climate Research utilized its well-established methodology to assess the Swedish Export Credit Agency (EKN) and Swedish Export Credit Corporation (SEK), the official Export Credit Agencies (ECAs) of Sweden, for their alignment with the Paris Climate Agreement. Overall, EKN and SEK were rated with ‘Paris aligned’ with scores of 2.22/3.00 and 2.30/3.00.  The main reasons for the score include the successful phase-out of most fossil fuel energy financing over the past years with virtually 100% of energy-related transactions flowing to renewable energy (RE), making Sweden the 4th biggest financier of RE in the Export Finance for Future alliance.  Neither ECA scored ‘Transformational’ due to the absence of granular reporting on project-level greenhouse gas emissions data, a clear definition of climate finance and the lack of sectoral emissions reduction targets.