Climate

EKN influences the global climate through its issuance of guarantees, which contribute to the financing of various activities. This impact is both negative and positive. Negative climate impact arises when guarantees are issued to activities that result in greenhouse gas emissions, while positive impact occurs when activities support the transition to a sustainable climate. Additionally, both climate change and the transition to a low-carbon economy affect EKN’s financial position.

To ensure transparency and accountability, EKN adheres to the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) in its reporting. These analyses address both climate impact and financial climate risks.

EKN’s own climate footprint

EKN’s internal operations have a relatively small climate footprint. However, business travel, particularly air travel, contributes to some degree of environmental impact.

Managing business travel

EKN actively works to minimise air travel by consistently questioning the necessity of trips, limiting the number of travellers, and considering whether digital meetings can replace physical ones.

Since 2014, EKN has offset all air travel emissions through Atmoz Consulting, a company that adheres to the Gold Standard. This certification ensures that climate offset projects meet strict requirements for social responsibility and sustainable development.

Through these efforts, EKN aims to minimise its climate impact and contribute to sustainable development.

The Scientific Climate Council, a group of academic experts, provides advisory support to EKN and SEK to assist aligning the Swedish export finance system with the Paris Agreement’s 1.5°C goal.

The climate council’s work focuses on the impact that export finance has on global GHG emissions. Moreover, the climate council is a vital knowledge resource and a discussion partner for EKN and SEK concerning fundamental strategic policy positions. The council has no operational role in individual business transactions

Examples of topics that could be addressed in the climate council include how commitments of countries and companies are updated and how the IPCC’s reports should impact the direction of both Swedish and international export finance systems. Another example is the role of natural gas for the energy transition of low- and middle-income countries.

Scientists in the climate council

• Måns Nilsson, Executive Director at SEI and Adjunct Professor in Environmental Strategies Research at the Royal Institute of Technology
• Linda Styhre, Researcher at IVL Swedish Environmental Research Institute
• André Månberger, Senior Lecturer and Associate Professor at the Department of Environmental and Energy Systems, Lund University

Meeting notes

You can read the notes from various meetings of EKN’s and SEK’s scientific climate council and the assignment description for the council here.

The E3F (the Export Finance for Future) coalition was launched in April 2021 with the aim of promoting and supporting a shift in investment patterns towards climate-neutral export projects and increased transparency.

The countries that join the E3F coalition are committed to working for greater transparency. On this page you will find the first joint reports covering fossil and renewable energy. The work is reported on an ongoing basis.

Signatorees

• Belgium
• Denmark
• Finland
• France
• Italy
• Netherlands
• Spain
• United Kingdom
• Sweden
• Germany

Sweden is represented in this context by the Ministry of Foreign Affairs with the support of EKN in matters of fact. More countries are welcome to join the initiative.

More information can be found on E3F’s LinkedIn page.