Sweden vows to strengthen its position as a model nation to tackle climate change, according to the 2017 budget proposal presented by the Swedish government on Tuesday.
The budget of nearly 13 billion SEK (1.53 billion U.S. dollars) set aside for climate policy initiatives over four years, from 2017 to 2020, represents Sweden’s biggest ever investment in the environment, the government stated. The funds will be used to develop fossil free transport and renewable energy and allocated as international climate investments.
The government proposes regional and local initiatives to cut emissions, which will see at least 50 percent of the funds coming from companies, municipalities, regional councils and private housing associations.
The government also wants to improve the country’s railway system in order to encourage more journeys by train as part of Sweden’s transition to fossil free fuels.
In the area of international climate investments, Sweden will halt
emissions and purchase annual allowances from within the European Union(EU). The measure is aimed at reducing the total amount of carbon dioxide that can be emitted within the EU emissions trading system, a cornerstone of the EU’s policy to combat climate change, reports AFP.