Between 2014 and 2019, Sweden more than tripled its official development assistance (ODA) aimed at assisting low-income countries in their efforts to reduce emissions, improve climate adaptation, strengthen capacity building, and increase technology transfer.
In 2019, Sweden’s ODA for climate finance amounted to SEK 7.5 billion (US$861 million), of which SEK 2.3 billion (US$264 million) was earmarked for climate adaptation measures, SEK 1.1 billion (US$126 million) for emission reduction, and SEK 4.4.billion (US$505 million) for cross-cutting climate measures (i.e., both emission reduction and adaptation). The total amount designated for climate finance represented a 3.5 times increase since 2014 and a 20% increase since 2018.
Minister for Environment and Climate, Isabella Lövin, underlined that climate leadership is not just about leading nationally but also internationally, and that through their climate work, they "have shown that Sweden can lead by significantly reducing emissions while helping poorer countries adapt their societies" to climate change as well.
Sweden is one of the largest per capita contributors to the United Nations Framework Convention on Climate Change’s Green Climate Fund (GCF) and the Global Environment Facility (GEF). In addition, Sweden provides significant contributions to other multilateral climate funding mechanisms such as the Adaptation Fund and the Least Developed Countries Fund, as well as through its regular regional and bilateral development cooperation mechanisms.