SEK 8 billion to UN Green Climate Fund

Successful replenishment of the GCF sends an important signal to the countries of the world to raise the bar for emissions reduction at the COP29 climate change conference in Baku.

“The climate crisis is a global crisis. The Government plays a proactive role in international climate action, and Sweden wants to increase climate aid and make it more effective. The GCF is one of our most important channels. Sweden’s contribution to the GCF makes us the largest donor per capita among the major donors and thus highlights the country’s leading role in climate finance. Sweden wants the GCF to prioritise innovation, green transition through investments in fossil-free energy, energy efficiency and climate-smart infrastructure,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. 

“Sweden is a leader in global efforts to meet the Paris Agreement’s 1.5 degree target. Our significant contribution to the largest, most well-organised international climate fund is tax money well-invested. The Government’s ambition with this investment is to accelerate climate transition in countries that have high emissions and need help transitioning,” says Minister for Climate and the Environment Romina Pourmokhtari.

With Sweden’s contribution, the replenishment of the GCF now totals just over USD 13.5 billion for the years 2024–2027. More than one third of the GCF’s resources are invested in measures in the private sector and thus mobilise private capital for climate investments. Sweden is and will remain one of the world’s most generous donors of international climate finance. With its substantial contribution in 2022, Sweden also played a significant role in achieving the goal of USD 100 billion per year in global climate finance. Sweden’s contribution to international climate finance is at the core of its climate policy.