Skip to content

The scientific climate council

EKN’s and SEK’s scientific climate council is the first of its kind in the world. The climate council will act as an advisory expert body with the aim of guiding the Swedish export finance system, which is to say EKN’s and SEK’s operations, to be in line with the Paris Agreement’s 1.5°C goal.

The aim of the Swedish export finance system is to facilitate and promote Swedish exports and the internationalisation and competitiveness of Swedish industry.

Article 2c of the Paris Agreement states that “Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” EKN’s and SEK’s export credit operations involve direct financial flows (through export credits and other credits from SEK) and indirect financial flows (through different forms of guarantees from EKN). For Sweden, like other countries, to meet its commitments under the Paris Agreement, the financial flows that the Swedish state influences through authorities and state-owned companies must align with the wording of the Paris Agreement.

As such, EKN and SEK strive to adapt their operations to be in line with the Paris Agreement’s 1.5°C goal. At the same time, neither EKN nor SEK possess expert knowledge concerning the development of global GHG emissions, the consensus of climate researchers or the development of international regulations and reporting standards for climate impact. As such, EKN and SEK proposed in their reporting of a 2020 governmental assignment that there is the need to establish an advisory body in the form of a scientific climate council to support EKN and SEK with how they can contribute to the global climate transition and reduced GHG emissions.

The overriding task of the scientific climate council

The climate council’s work is to focus on the global climate system and the impact that export finance has on global GHG emissions rather than focusing on domestic or consumption-based GHG emissions in Sweden.

The climate council has no operational role in the decision processes for individual business transactions for EKN or SEK. Rather, the council acts as a knowledge resource and discussion partner for EKN and SEK concerning fundamental policy positions for EKN’s and SEK’s operations to assist in achieving the Paris Agreement’s 1.5°C goal.

Topics that may be addressed in the climate council primarily concern the development of climate research and scientific consensus regarding what is required to achieve the 1.5°C goal globally.

Examples of concrete topics that can be raised

  • The role of natural gas in the energy transition of third-world countries. Discussions concerning assessment matrices for transition potential and possible lock-in effects and compatibility with the 1.5°C goal concerning, for example:
    New or expanded gas power plants in different parts of the world
    Refineries
    Paper and pulp mills
  • Which transactions are deemed “green”, meaning the areas/sectors with the potential to contribute to reduced global emissions and where EKN and SEK should prioritise their efforts to stimulate Swedish exports.
  • How EKN and SEK can develop their climate reporting to provide relevant information to client contacts and the general public, based on recommendations from the TCFD.

Documents

  1. Notes from a meeting 1 December 2021

    Download pdf (opens in a new window)
  2. Notes from a meeting 24 August 2021

    Download pdf (opens in a new window)
  3. Assignment description for the Scientific Advisory Climate Council

    Download pdf (opens in a new window)

Search