SEK updates its Policy for Sustainable Finance

SEK’s policy is anchored in the State Ownership Policy and the Ownership Directive, and articulates SEK’s objectives regarding sustainable financing to its stakeholders.

This year’s review has mainly resulted in a change to the appendix concerning SEK’s approach to fossil fuels. The principle outlined in this appendix is that credit will not be granted for coal, oil, or gas in relation to exploration, extraction, transport, processing, or power plants.

The amendment introduced stipulates that SEK, under specific conditions, may participate in the financing of gas-fired power plants in low- and lower-middle-income countries, as well as in the financing of safety and climate improvement measures for existing gas-fired power plants in low- and middle-income countries.

Financing for gas-fired power plants may only be considered if it can be demonstrated that the investment presents a clear environmental or climate advantage compared to other plannable alternatives. In addition, the relevant gas-fired power plant must be convertible and capable of operating on fossil-free fuel.

The revised policy is consistent with SEK’s mission to promote Swedish exports on sustainable terms. SEK upholds high standards in sustainability and aspires to contribute positively to the development of countries and the climate transition.