The Swedish export credit agency, EKN, is a state authority with the task of promoting exports and developing the internationalization of Swedish business and industry. EKN offers guarantees for payments and financing in export transactions. SEK, The Swedish Export Credit Corporation, provides long term funding for Swedish export related transactions. Together EKN and SEK form the Swedish government backed export credit system.
Since 1933, EKN has contributed to Swedish companies’ long-term competitiveness, by insuring payments and sharing risk with exporting companies and banks. EKN works with the big global companies as well as the small ones and guarantee their export business to more than 140 countries. EKN is tasked by the Swedish government to transition its operations to be in line with the goals of the Paris Agreement 1,5°C target and not to create lock-in effects in fossil fuel dependence.
EKN has set a long-term climate target of reaching net zero emissions by 2045. Interim targets and activities to reduce GHG emissions from the guarantee portfolio will be set as part of the NZECA. It has ended new support for fossil-related activities, except in limited and defined circumstances that are consistent with the goals of the Paris Agreement. New products and offerings have been launched to support and scale up financing of climate solutions. EKN’s and SEK’s scientific climate council, a group of academic experts, provides advisory support to assist aligning the Swedish export finance system with the Paris Agreement’s 1.5°C goal.