Sweden is considered to be on of the most sustainable countries in the entire world. This status could not have been reached without the support of government policies and the push for investing in green technology. The current government assistance in the growing green technology market, along with other policies, has allowed Sweden to be eight years ahead of schedule for their renewable energy targets set by the EU. By 2020, Sweden is predicted to meet those standards.
According the the official website of Sweden, the government implemented a new environmental technology strategy in 2011 to help the growth and development of green companies. This strategy is financed by SEK 400 million (about 44 million USD) in funding and SEK 100 million (about 11 million USD) has been distributed every year from 2011 to 2014. Below are the goals following the strategy.
- promote the export of Swedish environmental technology and thus contribute to sustainable economic growth in Sweden and globally
- promote research and innovation in environmental technology and create the conditions required for green technology companies to flourish in Sweden
- make it easier to commercialise innovations.
As stated by Statistics Sweden and the Swedish Environmental Technology Council, Sweden’s environmental technology sector employs roughly 40,000 people and profits approximately SEK 120 billion (13 billion USD). By setting and succeeding in these goals, the Swedish government hopes to set an example for other countries and a key role in international negotiations on a new climate agreement.
Additionally, the Swedish government has implemented environmental taxes and charges. By doing this, the marketplace price of these technologies are directly affected while also influencing consumers’ purchase patterns.