EKN: On exporting Sweden’s fossil free energy future

(TFX, London, 12 February 2020) EKN's director general Anna-Karin Jatko set the tone for the Swedish export credit agency’s seminar in Stockholm on 9 February noting Swedish industry’s impressive ability to transform itself. Two companies, Siemens Industrial Turbomachinery and state-owned mining and mineral group LKAB, are among those doing transformative things in Sweden such as fossil-free steel products. Their exports have been covered by EKN for more than 80 years. The goal set by the Swedish government to be the “first fossil-free welfare society in the world” is an ambitious one, but Ibrahim Baylan, Sweden’s Minister for Business, Industry and Innovation is bullish. “It’s a huge challenge, but there are opportunities if it’s done in the right way,” he told the domestic and international banks and exporters, pointing out that the transition won’t be financed and delivered by the government of the country, whose population is only around 10 million, on its own.