Swedish Export Credit investments supporting the expansion of Airports in Vietnam

Thank you for reaching out! Firstly, the content of your post is not correct: EKN or SEK has not provided any loans to the airport. What has happened is that Vietnam intends to expand their airports and are investigating what companies offer the best equipment and technical solutions. SEK (AB Svensk exportkredit) and EKN (Exportkreditnämnden) have written a mutual letter to Vietnam with a declaration of intent of contributing with a loan and guarantee, respectively, if Vietnam chooses to buy equipment from Swedish companies, which are in the forefront in terms of innovative solutions in this sector. The declaration of intent is not a binding offer but subject to normal risk assessment, including an environmental and social due diligence of the project. The country has not yet decided on which suppliers they will choose. We look forward to the incorrect information being removed from the platform. Secondly, we are happy to be involved in this dialogue. In 2020 EKN has taken several steps to clarify our contribution to the climate transition. In relation to fossil-based operations we have, amongst other things, decided to not provide any new guarantees for exports to oil and gas extraction projects, e.g. new LNG projects. We have also ceased to guarantee export of Swedish equipment to coal mines (new or existing) or for transportation of coal. This applies to all sizes of transactions, large and small. We are now trying to get other countries to follow! More information, including a report to the Swedish government with eight suggestions for how the export finance system can contribute to climate transition (from Sept 2020) is available on www.ekn.se.

Dear Victor, Well done in getting your climate warning to level 2. We have reached out to Exportkreditnämnden and requested a response. We will keep you updated on any progress. /Adam, We Don't Have Time

While yes, it matters a whole lot what parties are in power, one thing that is more nefarious and pervasive is the short term, "what has worked before", "business as usual" thinking that these types of investments are ultimately a result of. The Swedish agencies are very independent and so here it's also a certain type of "expert rule" that's locking in this old type of investment thinking. A nerdy political science detail to note is that ministers can't decide on specific policy implementations by an agency, so again, technocrats have a lot of power in Sweden and when they have sensible ideas everything is great. But say they have outdated ideas and politicians don't correct it on a strategic level (ie. explicitly banning a certain kind of investments in this case), this can be the result.

This makes me very angry!

This is one of the roots of problems - Elected people who are suppose to make right decision are not doing their job.

Isn't it absolutely diabolical that countries are purporting to be green, supposedly doings everything to meet their Paris agreement targets. Yet are prepared to invest billions in promoting exactly the opposite as long as it's not in their home country. All for money again. Surely the image of Al Gore holding gold bullion in one hand and our planet on the other. Stating the bullion is worth nothing if there is no planet, should be a strong enough message. Sad times.