Open letter: Sweden should join call for fossil fuel phase out at COP26

Pressmeddelande -

Open letter: Sweden should join call for fossil fuel phase out at COP26

Ahead of the COP26 summit, the Swedish government has shown climate leadership by announcing it will double its climate development aid by 2025. Next, Sweden should back a high-level initiative urging governments to phase out public finance support to fossil fuels overseas – an opportunity for Sweden to step up climate action in the area of export finance, Swedwatch and the Swedish Society for Nature Conservation state in an open letter.

On October 1st, United Kingdom (UK) Climate Envoy John Murton and the President of the European Investment Bank (EIB) Werner Hoyer openly invited governments and public-finance leaders to join a statement for a phase-out of overseas public financed fossil fuel projects. The statement is to be launched at the UN Climate Change Conference COP26 in November.

The initiative builds on a policy adopted by the UK in March 2021, which puts an end to direct government support for the fossil fuel energy sector overseas, including through export credits. Sweden has adopted progressive climate policies on export credits limiting export finance support to most – but not all* – fossil fuel projects.

Ahead of COP26, Sweden has announced that it will double its climate finance budget by 2025, essentially making Sweden one of the highest contributors to climate finance on a per capita basis. Now, Sweden has the opportunity to show further leadership by expressing support for the UK statement, the open letter states (in Swedish).

Even though Swedish international public finance and export credits have little exposure to fossil fuel projects, Swedwatch argues that increasingly progressive climate action is needed to reach an international consensus for a wider phase out of fossil fuels support, including export finance.

*Under current policies, projects in the oil and gas value chain, including power plants, refineries, and pipelines as well as transport and storage of fossil fuels, can still be supported. Read more in a policy paper from Swedwatch.

Ämnen

Kategorier

Swedwatch är en ideell och politiskt obunden researchorganisation. Vårt mål är att företag, investerare och stater ska ta ansvar för mänskliga rättigheter och miljö och att rättighetsinnehavare kan göra sina röster hörda. 

Kontakter

Ami Hedenborg

Ami Hedenborg

Presskontakt Acting Head of Outreach and Advocacy 0709 32 92 49

Relaterat innehåll

Blood oil: The role of past investors in delivering access to justice

For more than ten years, a prosecutor has investigated the role that Swedish oil company Lundin Energy played in war crimes allegedly committed in the company’s concession area during the civil war in Sudan. For decades, the victims of these events have been waiting for justice. But what responsibility do the financial institutions that invested in the company have?
2021 marks the 10th annivers

Contaminated ground water from a borewell in Gaddapotharam, India. From the report "The Health Paradox". Photo: Shailendra Yashwant

Towards increased transparency in the pharmaceutical supply chain


Industrial emissions from manufacturing of medicines are often associated with environmental pollution, adversely impacting ecosystems and human health. However, opaque supply chains make it impossible to hold polluters to account. In a new policy paper, Swedwatch calls on EU policymakers to strengthen their oversight on industrial emissions in the pharmaceutical sector.
Pharmaceuticals ar

Swedwatch endorse proposal for the OECD to end export finance support for oil and gas

Swedwatch endorse proposal for the OECD to end export finance support for oil and gas

One week before international negotiators meet at the Organisation for Economic Co-operation and Development (OECD) in Paris to discuss aligning export finance with international climate goals, Swedwatch together with more than 175 civil society organizations (CSOs) from over 45 countries have released a Joint Position calling on world leaders to end OECD export finance for oil and gas.

Relaterade event

Webbinarium: Möjligt att främja ansvarsfull utvinning av mineraler genom offentlig upphandling

Webbinarium: Möjligt att främja ansvarsfull utvinning av mineraler genom offentlig upphandling

Tid 28 Januari 2021 00:00 – 00:00

For sustainable change

Swedwatch är en ideell och politiskt obunden researchorganisation. Vårt mål är att företag, investerare och stater ska ta ansvar för mänskliga rättigheter och miljö och att rättighetsinnehavare kan göra sina röster hörda.

Genom att uppmärksamma missförhållanden och skapa dialog mellan företag, beslutsfattare och civilsamhälle verkar vi för att skapa bestående och hållbara förändringar.

Swedwatch

Götgatan 100
118 62 Stockholm
Sverige

Swedwatch.org
Swedwatch rapporter och publikationer
Fyll i din epostadress för att följa Swedwatch

När du väljer att skapa ett konto och följa ett nyhetsrum kommer dina personuppgifter behandlas av oss och av ägaren av nyhetsrummet för att du ska kunna motta nyheter och uppdateringar enligt dina bevakningsinställningar.

För att läsa mer om detta, var vänlig läs vår Integritetspolicy som berör vår behandling av dina personuppgifter, och Integritetspolicy för Contacts som berör behandlingen av dina personuppgifter från ägaren av nyhetsrummet du följer.

Vänligen notera att våra Användarvillkor gäller alla våra tjänster.

Du kan dra tillbaka ditt samtycke när som helst genom att avregistrera dig eller genom att ta bort ditt konto.
Kolla din inkorg

Mejl skickat till __email__. Klicka på länken i mejlet för att följa Swedwatch.

Okej