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Sweden's central bank divests Canadian and Australian bonds for climate reasons

Riksbanken, the central bank of Sweden, starts to divest bonds issued by the Canadian province of Alberta and Australian states Queensland and Western Australia due to their large climate impact.

Ho/Reuters/Ritzau Scanpix | Photo: Ho/Reuters/Ritzau Scanpix

In an effort to make the foreign exchange reserves of the central bank more sustainable, Sweden's Riksbanken has started to reject bond issuers with a large climate impact.

"We have therefore recently sold holdings of bonds issued by the Canadian province of Alberta and the Australian states of Queensland and Western Australia," Riksbanken Deputy Governor Martin Flodén says in a speech held at Örebro University on Wednesday.

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