NordSIP (Stockholm) – Speaking at an event in Stockholm, the Swedish Minister for Financial Markets, Per Bolund, discussed a range of upcoming policies. He highlighted the parliament’s commitment to the introduction of a climate act. The minister also discussed the government’s plan to introduce green savings for retail investors, launch a green sovereign bond, provide new allocation guidelines for the AP funds and reform the premium pension procurement system.
On the position of the Riksdagen, the Swedish parliament, the minister states that “there’s a broad agreement covering about 80% of the mandates in the Swedish parliament that there should be a climate act to get Sweden as a whole to be emissions neutral, i.e., 0% net carbon emissions, by 2045.”
The discussion of this policy was stated in no uncertain terms. “If you think that we will somehow divert from this course and take another course of action, you are seriously mistaken, and you will be exposing your companies and your activities to great risk. Climate risk is very real today, and we can all see it directly, from forest fires and droughts,” Per Bolund says.
On the government’s to-do list, two prominent tasks ahead included the creation of green savings and the issuance of a sovereign green bond in 2019. Green savings will be aimed at giving retail investors the incentives to put their money into sustainable projects
“The government should promote the market for green bonds. Sweden has been leading the way. One of the most important findings from our inquiry into this matter is that Sweden should issue a green sovereign bond to promote this market. Already this year we will emit a green sovereign bond,” confirms the minister.
Per Bolund believes that Sweden has done much to become a leader in green investment and continuing on this path will only allow Sweden to maintain its prominence in this sector at a time when investors’ and savers’ preferences are increasingly aligned with sustainability goals.
“I think that the managers that chose not to incorporate sustainability issues into their fund management will take a great risk because they have to be transparent with that and Swedish customers and consumers want to give their money to people who take these issues into account. Swedish people want to have money in the future, but they also want to have a planet where they can enjoy their money,” Bolund adds.
Picture © NordSIP
