The Swedish Energy Agency invests USD 60 million in new climate cooperations

Launch of partnership between Swedish Energy Agency and UNDP

The Swedish Energy Agency has entered into two new partnerships with the UN Development Programme (UNDP) and the Asian Development Bank (ADB), aiming to implement emission reduction activities in Africa, Asia and the Pacific. Sandra Lindström, Head of International Climate Cooperation at the Swedish Energy Agency, explains:

"We are scaling up our cooperation with internationally established partners in order to expand our portfolio of Article 6 activities that can contribute to globally reduced emissions and higher climate ambition. Both UNDP and ADB have an established presence in relevant countries."

Launch of partnership between Swedish Energy Agency and ADB

Partnerships with ADB and UNDP

ADB has recently established the Climate Action Catalyst Fund, which aims to incentivise the deployment of low-carbon technologies and provide climate change mitigation and sustainable development impacts in Asia and the Pacific. Sweden is now the first participant to join the fund.

The Swedish Energy Agency and UNDP have agreed to jointly develop an initiative called Climate Ambition Raising Through Article 6, aiming to implement emission reduction activities in African countries. Under this initiative, UNDP will support up to four countries in sub-Saharan Africa for participation in the Article 6 carbon market and will develop activities in these countries. The activities will focus on energy-related emission reductions.

Both partnerships aim to generate greenhouse gas reductions of which a portion can be transferred to Sweden as carbon credits under Article 6 of the Paris Agreement, contributing to Sweden’s national climate goals. In 2024, the Swedish Energy Agency and its partners will select countries and projects for these initiatives.