Sweden will issue its first Green Bond by 2020
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Government
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#SDGAction43363
Description
Green bonds have previously been issued in Sweden by both private and public entities. By 2020, the State will also issue green bonds. The Swedish National Debt Office, responsible for government debt management, has therefore been instructed to analyse how the issue should be carried out.
Efforts to promote the development of a sustainable financial market included instructing an Inquiry Chair to analyse the market for green bonds and present proposals on how it could be developed. The report ‘Promoting the market for green bonds’ was presented on 10 January 2018. The Inquiry’s assessment was that the single most important promotion measure would be the issuance of green bonds by the Swedish State.
The Swedish National Debt Office has also been instructed to work with the Government Offices to develop the ‘green framework’, which will distinguish green bonds from conventional ones. The expenditure items in the central government budget that will be funded by the green bonds will be defined and selected in the framework. They will subsequently be monitored through a reporting requirement.
According to the assignment, the selection of appropriate green expenditures should be based on the climate policy framework and the Government’s climate and environmental policy, which is monitored through work towards the environmental objectives that is reported to the Parliament.
All the SDGs are inherently related to climate action. While many SDGs have a primary social component, integrating a climate perspective in the implementation of the 2030 Agenda as a whole is necessary. For instance, climate change negatively impacts food security (SDG 2). Sustainable industrialization and infrastructure (SDG 9) requires new forms of financing which ensure that negative impacts on climate change are mitigated. Globally, the world is not on track for reaching the level of green investment needed to reach the 1.5°C target of the Paris Agreement.
Green bonds are a useful instrument for the financing of projects related to all areas of the SDGs, including: clean transport (SDG 11), green technology (SDG 9), water management and the preservation of aquatic ecosystems (SDG 14) etc. Green bonds also set a higher standard for disclosure and reporting which relates to SDG 16.
Therefore, Green Bonds can be a powerful tool for governments and the private sector to simultaneously respond to several challenges such as sustainable growth, poverty reduction, decreased inequality, and climate change adaption/mitigation.
SDGS & Targets
Goal 9
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
9.1
9.1.1
Proportion of the rural population who live within 2 km of an all-season road
9.1.2
Passenger and freight volumes, by mode of transport
9.2
Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries
9.2.1
Manufacturing value added as a proportion of GDP and per capita
9.2.2
Manufacturing employment as a proportion of total employment
9.3
9.3.1
Proportion of small-scale industries in total industry value added
9.3.2
Proportion of small-scale industries with a loan or line of credit
9.4
By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities
9.4.1
CO2 emission per unit of value added
9.5
9.5.1
Research and development expenditure as a proportion of GDP
9.5.2
Researchers (in full-time equivalent) per million inhabitants
9.a
9.a.1
Total official international support (official development assistance plus other official flows) to infrastructure
9.b
9.b.1
Proportion of medium and high-tech industry value added in total value added
9.c
Significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet in least developed countries by 2020
9.c.1
Proportion of population covered by a mobile network, by technology
Goal 2
End hunger, achieve food security and improved nutrition and promote sustainable agriculture
2.1
By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious and sufficient food all year round
2.1.1
Prevalence of undernourishment
2.1.2
Prevalence of moderate or severe food insecurity in the population, based on the Food Insecurity Experience Scale (FIES)
2.2
By 2030, end all forms of malnutrition, including achieving, by 2025, the internationally agreed targets on stunting and wasting in children under 5 years of age, and address the nutritional needs of adolescent girls, pregnant and lactating women and older persons
2.2.1
Prevalence of stunting (height for age <-2 standard deviation from the median of the World Health Organization (WHO) Child Growth Standards) among children under 5 years of age
2.2.2
Prevalence of malnutrition (weight for height >+2 or <-2 standard deviation from the median of the WHO Child Growth Standards) among children under 5 years of age, by type (wasting and overweight)
2.2.3
Prevalence of anaemia in women aged 15 to 49 years, by pregnancy status (percentage)
2.3
2.3.1
Volume of production per labour unit by classes of farming/pastoral/forestry enterprise size
2.3.2
Average income of small-scale food producers, by sex and indigenous status
2.4
By 2030, ensure sustainable food production systems and implement resilient agricultural practices that increase productivity and production, that help maintain ecosystems, that strengthen capacity for adaptation to climate change, extreme weather, drought, flooding and other disasters and that progressively improve land and soil quality
2.4.1
Proportion of agricultural area under productive and sustainable agriculture
2.5
By 2020, maintain the genetic diversity of seeds, cultivated plants and farmed and domesticated animals and their related wild species, including through soundly managed and diversified seed and plant banks at the national, regional and international levels, and promote access to and fair and equitable sharing of benefits arising from the utilization of genetic resources and associated traditional knowledge, as internationally agreed
2.5.1
Number of (a) plant and (b) animal genetic resources for food and agriculture secured in either medium- or long-term conservation facilities
2.5.2
Proportion of local breeds classified as being at risk of extinction
2.a
2.a.1
The agriculture orientation index for government expenditures
2.a.2
Total official flows (official development assistance plus other official flows) to the agriculture sector
2.b
Correct and prevent trade restrictions and distortions in world agricultural markets, including through the parallel elimination of all forms of agricultural export subsidies and all export measures with equivalent effect, in accordance with the mandate of the Doha Development Round
2.b.1
Agricultural export subsidies
2.c
Adopt measures to ensure the proper functioning of food commodity markets and their derivatives and facilitate timely access to market information, including on food reserves, in order to help limit extreme food price volatility
2.c.1
Indicator of food price anomalies
Goal 11
Make cities and human settlements inclusive, safe, resilient and sustainable
11.1
By 2030, ensure access for all to adequate, safe and affordable housing and basic services and upgrade slums
11.1.1
Proportion of urban population living in slums, informal settlements or inadequate housing
11.2
11.2.1
Proportion of population that has convenient access to public transport, by sex, age and persons with disabilities
11.3
11.3.1
Ratio of land consumption rate to population growth rate
11.3.2
Proportion of cities with a direct participation structure of civil society in urban planning and management that operate regularly and democratically
11.4
Strengthen efforts to protect and safeguard the world’s cultural and natural heritage
11.4.1
Total per capita expenditure on the preservation, protection and conservation of all cultural and natural heritage, by source of funding (public, private), type of heritage (cultural, natural) and level of government (national, regional, and local/municipal)
11.5
By 2030, significantly reduce the number of deaths and the number of people affected and substantially decrease the direct economic losses relative to global gross domestic product caused by disasters, including water-related disasters, with a focus on protecting the poor and people in vulnerable situations
11.5.1
Number of deaths, missing persons and directly affected persons attributed to disasters per 100,000 population
11.5.2
Direct economic loss attributed to disasters in relation to global domestic product (GDP)
11.5.3
(a) Damage to critical infrastructure and (b) number of disruptions to basic services, attributed to disasters
11.6
By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management
11.6.1
Proportion of municipal solid waste collected and managed in controlled facilities out of total municipal waste generated, by cities
11.6.2
Annual mean levels of fine particulate matter (e.g. PM2.5 and PM10) in cities (population weighted)
11.7
11.7.1
Average share of the built-up area of cities that is open space for public use for all, by sex, age and persons with disabilities
11.7.2
Proportion of persons victim of non-sexual or sexual harassment, by sex, age, disability status and place of occurrence, in the previous 12 months
11.a
Support positive economic, social and environmental links between urban, peri-urban and rural areas by strengthening national and regional development planning
11.a.1
Number of countries that have national urban policies or regional development plans that (a) respond to population dynamics; (b) ensure balanced territorial development; and (c) increase local fiscal space
11.b
By 2020, substantially increase the number of cities and human settlements adopting and implementing integrated policies and plans towards inclusion, resource efficiency, mitigation and adaptation to climate change, resilience to disasters, and develop and implement, in line with the Sendai Framework for Disaster Risk Reduction 2015-2030, holistic disaster risk management at all levels
11.b.1
Number of countries that adopt and implement national disaster risk reduction strategies in line with the Sendai Framework for Disaster Risk Reduction 2015–2030
11.b.2
Proportion of local governments that adopt and implement local disaster risk reduction strategies in line with national disaster risk reduction strategies
11.c
Support least developed countries, including through financial and technical assistance, in building sustainable and resilient buildings utilizing local materials
Goal 13
Take urgent action to combat climate change and its impacts
13.1
Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries
13.1.1
Number of deaths, missing persons and directly affected persons attributed to disasters per 100,000 population
13.1.2
Number of countries that adopt and implement national disaster risk reduction strategies in line with the Sendai Framework for Disaster Risk Reduction 2015–2030
13.1.3
Proportion of local governments that adopt and implement local disaster risk reduction strategies in line with national disaster risk reduction strategies
13.2
Integrate climate change measures into national policies, strategies and planning
13.2.1
Number of countries with nationally determined contributions, long-term strategies, national adaptation plans and adaptation communications, as reported to the secretariat of the United Nations Framework Convention on Climate Change
13.2.2
Total greenhouse gas emissions per year
13.3
Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning
13.3.1
Extent to which (i) global citizenship education and (ii) education for sustainable development are mainstreamed in (a) national education policies; (b) curricula; (c) teacher education; and (d) student assessment
13.a
Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change to a goal of mobilizing jointly $100 billion annually by 2020 from all sources to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and fully operationalize the Green Climate Fund through its capitalization as soon as possible
13.a.1
Amounts provided and mobilized in United States dollars per year in relation to the continued existing collective mobilization goal of the $100 billion commitment through to 2025
13.b
Promote mechanisms for raising capacity for effective climate change-related planning and management in least developed countries and small island developing States, including focusing on women, youth and local and marginalized communities
13.b.1
Number of least developed countries and small island developing States with nationally determined contributions, long-term strategies, national adaptation plans and adaptation communications, as reported to the secretariat of the United Nations Framework Convention on Climate Change
Goal 14
Conserve and sustainably use the oceans, seas and marine resources for sustainable development
14.1
By 2025, prevent and significantly reduce marine pollution of all kinds, in particular from land-based activities, including marine debris and nutrient pollution
14.1.1
(a) Index of coastal eutrophication; and (b) plastic debris density
14.2
By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans
14.2.1
Number of countries using ecosystem-based approaches to managing marine areas
14.3
Minimize and address the impacts of ocean acidification, including through enhanced scientific cooperation at all levels
14.3.1
14.4
By 2020, effectively regulate harvesting and end overfishing, illegal, unreported and unregulated fishing and destructive fishing practices and implement science-based management plans, in order to restore fish stocks in the shortest time feasible, at least to levels that can produce maximum sustainable yield as determined by their biological characteristics
14.4.1
14.5
By 2020, conserve at least 10 per cent of coastal and marine areas, consistent with national and international law and based on the best available scientific information
14.5.1
14.6
By 2020, prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, eliminate subsidies that contribute to illegal, unreported and unregulated fishing and refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the World Trade Organization fisheries subsidies negotiation
14.6.1
Degree of implementation of international instruments aiming to combat illegal, unreported and unregulated fishing
14.7
By 2030, increase the economic benefits to Small Island developing States and least developed countries from the sustainable use of marine resources, including through sustainable management of fisheries, aquaculture and tourism
14.7.1
Sustainable fisheries as a proportion of GDP in small island developing States, least developed countries and all countries
14.a
Increase scientific knowledge, develop research capacity and transfer marine technology, taking into account the Intergovernmental Oceanographic Commission Criteria and Guidelines on the Transfer of Marine Technology, in order to improve ocean health and to enhance the contribution of marine biodiversity to the development of developing countries, in particular small island developing States and least developed countries
14.a.1
14.b
Provide access for small-scale artisanal fishers to marine resources and markets
14.b.1
Degree of application of a legal/regulatory/policy/institutional framework which recognizes and protects access rights for small‐scale fisheries
14.c
Enhance the conservation and sustainable use of oceans and their resources by implementing international law as reflected in United Nations Convention on the Law of the Sea, which provides the legal framework for the conservation and sustainable use of oceans and their resources, as recalled in paragraph 158 of "The future we want"
14.c.1
Number of countries making progress in ratifying, accepting and implementing through legal, policy and institutional frameworks, ocean-related instruments that implement international law, as reflected in the United Nations Convention on the Law of the Sea, for the conservation and sustainable use of the oceans and their resources
SDG 14 targets covered
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Contact Information
Désirée Hermann, Desk Officer, Global Agenda Department, Ministry for Foreign Affairs