Sweden looks set to miss its legislated climate targets, the latest sign of how combating global warming is slipping down the policy agenda.
The nation — the first globally to set a milestone target for net zero emissions — won’t reach that goal for 2045 with current measures, according to the center-right government’s 2024 budget submitted on Wednesday. It cited the tough economic climate along with a plunging krona, expecting to also fall short on other targets for protecting the environment.
“What we are doing now, including tax cuts on fuel, increases emissions, but we are doing a lot of other things that will lead to lower emissions long term,” Finance Minister Elisabeth Svantesson told reporters in Stockholm. “Don’t forget that this is a very tough time for a lot of people.” The policy shift comes as governments across Europe are facing a difficult balance between maintaining ambitious goals for reducing emissions while supporting households that are squeezed by rising costs. In the UK, Prime Minister Rishi Sunak’s Tuesday announcement that he would roll back some green energy policies has sparked a backlash among Tory MPs and created uncertainty for industry.
Of 19 climate and environment targets listed in the 2024 budget, the government said it is set to miss seven, including goals to reduce domestic pollution and emissions from the transport industry. Only two targets were due to be met. “We will get back during fall with a climate action plan that will spell out a clear direction for the work on reducing emissions,” Svantesson said.
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