Swedish FSA director warns of over-reliance on green investments

Allocating money to green investment products alone won’t do the trick. Uncomfortable political decisions like raising the carbon price are necessary to combat climate change, Swedish FSA Director General says.

Swedish FSA General Director Erik Thedéen | Photo: 10050 Pontus Lundahl/TT/TT NYHETSBYRÅN / TT NYHETSBYRÅ

Climate change is here and actions to combat it and to significantly reduce carbon emissions have to be swift. The financial industry plays an important role in this transition, but the real difference is with what lies outside of the financial system, Swedish Financial Supervisory Authority General Director Erik Thedéen said in a recent speech at a seminar in Stockholm.

The finance sector’s continuous work on issues related to climate and sustainability is extremely valuable but it’s not where the real difference is made, Thedéen said, issuing a warning for unreasonable expectations.

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