Introducing (EKN) and continuing (SEK) transparent tracking and disclosure of financed emissions (scope 3) based on international best practices such as the Partnership for Carbon Accounting Financials (PCAF): Only full disclosure of portfolio-related emissions and GHG intensity would be aligned with the best practice-standard of other ECAs.
Similarly, publishing estimated future emissions data for both their portfolios and new commitments on project-level, including information on baselines and lifetime GHG emissions of assets.
Setting sectoral GHG emissions reduction targets (EKN and SEK) for the short-to-medium-term towards net-zero emissions by 2045, in line with Sweden’s climate target.
Adopting a common climate finance definition applicable to both ECAs which builds on the EU Taxonomy and the latest climate science, both for new authorizations and total exposure as a broader category that includes finance for RE and related infrastructure but also cross-cutting activities for both mitigation and adaptation.
Amending the ECAs’ mandates so that they can introduce new ‘green’ incentives, and thus significantly increase climate finance from current portfolio shares of less than 10%, especially finance for RE and related (clean) infrastructure.
Building on its climate leadership in international fora and leveraging Nordic cooperation to reform rules governing public support for fossil fuels globally.