Sweden is and will remain one of the world’s most generous donors of international climate finance. Swedish climate aid will be expanded and streamlined. With its substantial contribution in 2022, Sweden played a significant role in achieving the goal of USD 100 billion per year in global climate finance. Sweden’s contribution to international climate finance is at the core of its climate policy. International climate finance will contribute to both emissions reductions and climate adaptation.
In connection with the COP29 climate change conference in Baku, Azerbaijan, Sweden is providing several new types of financial support.
The support supplements Sweden’s existing climate finance. The majority of Swedish climate aid is provided via Sida – in 2023, this was SEK 5.2 billion. Sweden’s total climate aid totalled SEK 9.4 billion in 2023, an increase of more than SEK 800 million compared to 2022. Alongside the abovementioned climate funds, Sweden provides approximately SEK 100 million annually to the Nordic Development Fund and is providing around SEK 670 million to the Global Environment Facility in 2024.
This joint international climate finance is a commitment under the Paris Agreement. To achieve the goals of the Agreement, international climate finance must increase. The donor base needs to be broadened and more countries need to contribute. Sweden welcomes other countries’ increased contributions and urges countries that have not contributed to do so, so that we can jointly mobilise for a green transition around the world. As part of the Government’s reform agenda, Sweden is working to link climate aid and international climate finance with trade promotion. Swedish businesses and the Swedish resource base have a lot to share and to contribute to other countries’ green transition.
Read the article and see the detailed Support here:
Sweden’s COP29 financial package – Government.se
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