The Swedish Energy Agency is investing $60 million in new climate cooperation

Author： Hits：93 Date：2023-12-18 source：

The Swedish Energy Agency and partners announced today at the United Nations Climate Change Conference COP28 in Dubai that Sweden plans to fund activities aimed at reducing greenhouse gas emissions in the Asia-Pacific region and sub-Saharan Africa.

Launch of a partnership between the Swedish Energy Agency and the United Nations Development Programme

The Swedish Energy Agency has entered into two new partnerships with the United Nations Development Programme (UNDP) and the Asian Development Bank (ADB) to implement emission reduction activities in Africa, Asia and the Pacific. Sandra Lindstrom, Head of international climate Cooperation at the Swedish Energy Agency, explains:

"We are expanding our collaboration with established partners internationally to expand our portfolio of Article 6 activities, which will help reduce global emissions and raise climate aspirations." The United Nations Development Programme and the Asian Development Bank have an established presence in the countries concerned

Launch of partnership between Swedish Energy Agency and Asian Development Bank

Cooperation with ADB and UNDP

The Asian Development Bank recently established the Climate Action Catalysis Fund, which aims to incentivize 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 the United Nations Development Programme have agreed to jointly promote an initiative called "Raising Climate Ambition through Article 6", which aims to implement emission reduction activities in African countries. Under this initiative, UNDP will support up to four countries in sub-Saharan Africa to participate in the Article 6 carbon Market and carry out related activities in these countries. These activities will focus on energy-related emissions reductions.

The goal of the two partnerships is to achieve greenhouse gas reductions, a portion of which can be transferred to Sweden as carbon credits under Article 6 of the Paris Agreement, thereby contributing to the achievement of Sweden's national climate targets. By 2024, the Swedish Energy Agency and its partners will select countries and projects to participate in the initiative.