As we know, Sweden aspires to move completely on renewable energy by 2040. Keeping that in focus, the Swedish government has allocated SEK5 billion (£485m) in the budget for its various climate and environmental projects.
This huge investment of £485m in 2018 will be spent on boosting the green economy both within the country and also internationally. The idea is to reduce emissions, create jobs, tackle climatic changes and boost development. This allocation in the 2018 budget bill, which is based on an agreement between the Swedish government and Sweden’s Left Party (SSV), is the “greatest commitment to climate and the environment ever”.
The deputy Prime Minister of the country, Isabella Lövin said, “Our generation should be able to hand over a society to our children where the major environmental problems are solved and where the cities should be living and healthy growing environments. There is a lot to be done – there has been underinvestment in sustainable development for too long.”
This allocation of funds towards environment and nature conservation for the next year is nearly 109 percent increase from its 2014 allocation.
This Scandinavian country has really ambitious plans and has committed that by 2045 the new carbon emissions of the country will be reduced to zero. The government is determined to achieve it and along with its annual budget, it will also produce a climate report. Once in four years, it will come up with a new action plan after taking into consideration what has been achieved and what needs to be done.
There are already major structural efforts in progress that are aimed at improving the sustainability of transport and industry. A considerable investment has been made in solar power, usage of electric bicycles and having electric vehicle charge points.