To promote investment in green industry that can help Sweden reach its environmental and climate policy goals, the Government has given the Swedish National Debt Office a mandate to provide state credit guarantees.
On 3 June 2021, the Government resolved to give to the Debt Office a mandate to issue state credit guarantees for new loans raised by companies with credit institutions for financing large-scale industrial investment in Sweden that contributes to reaching the goals of the environmental objectives system and climate policy framework.
To be eligible for a guarantee, a loan must amount to at least SEK 500 million.
In 2021, the guarantee framework amounts to a maximum of SEK 10 billion. The guarantee framework is expected to reach SEK 15 billion in 2022 and SEK 25 billion in 2023.
The assignment will be carried out in accordance with Regulation (2021:524) on state credit guarantees for green investments, which enters into force on 22 June 2021.
Environmental evaluation of investments
To qualify for the guarantee scheme, investments must meet certain environmental criteria. The regulation on state credit guarantees for green investments refers to the Swedish environmental objectives system. A transparent and predictable evaluation process for determining whether an investment significantly contributes to the environmental quality objectives requires a well-defined benchmark. In this case, as a starting point, the Debt Office plans to base its assessment on the taxonomy developed by the European Commission.
Using this taxonomy, the Debt Office, together with the Swedish Environmental Protection Agency, has set out assessment criteria for the evaluation.
The Programme report green credit guarantees will be published shortly.
For questions about the guarantee scheme, contact the Debt Office at: firstname.lastname@example.org
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