Sweden: a sustainable story

To limit global warming, we have to cut carbon emissions. And if we want to cut carbon emissions, more cars have to become electric. In Gothenburg, the EIB financed R&D to develop Volvo Cars’ mild hybrids and longer-range electric battery vehicles. We also financed research into active safety systems and functions, such as collision avoidance, and improved driver-assistance features, some of which are already available on current Volvo models. Because, after all, staying safe is part of sustainability, too.

Gävle may mostly be known for its Christmas goat, but when it comes to lighting things up, there is a local company that may soon shine even brighter. Battery manufacturer Nilar is expanding production of its unique and safe battery system. The company produces nickel-based batteries that can be used by homeowners and industrial customers to store renewable energy, perhaps generated by rooftop solar panels, to power their buildings at any hour. It is increasingly important to embrace renewables as we try to limit our carbon footprints. The batteries’ robustness and nonflammable electrolyte makes them safe and long-lasting for any home.

Next-generation batteries have a pivotal role in the European Commission’s target of reducing carbon emissions by 55% by 2030. They will also help enhance energy independence—and energy security—for Europe. With help from the EIB, Northvolt first built a lithium-ion battery production demonstration line in Västerås. Now, again with EIB backing, the company is taking the next step with a bigger factory in Skellefteå, Northvolt Ett, which will employ upwards of 3,000 persons. The company aims to ramp up annual production capacity at Northvolt Ett to 60 gigawatt-hours, making green energy storage available across the European Union—in battery form.

Energy used in buildings is behind a major portion of carbon emissions. To meet our climate targets, new buildings have to meet exacting standards. That’s why the EIB’s financing of the refurbishment to near zero energy office building standards of the Sergelhuset complex in Norrmalm is so important. An EIB loan to Vasakronan covers this work, redefining the entire area around Sergels torg, just a couple of minutes’ walk from here.

How do you make a pulp and paperboard mill more energy efficient? Replace the boiler and turbine generator, and install a superconcentrator. And, of course, pay for these changes. Which is why we’re financing Metsä Board’s mill in Husum. Our loan supports the modernisation of the plant, as well as doubling the renewable electricity the mill generates. That means the mill will produce over 90% of the electricity it uses, as well as improving its environmental footprint by using the best available technology.

Industry produces a big chunk of total greenhouse gases. That’s why energy efficiency in industrial processes is so important—and that goes for future technologies, too. If innovations are to be sustainable, they must take into account the need for smaller carbon footprints. We’re financing Atlas Copco’s research and development to make its production processes more sustainable. Our loan supports, among other things, innovations in the fields of compressors, vacuum and industrial technologies. Above is an example from industrial technologies with the recently launched Tensor IxB tool family, which provides significant energy savings and supports sustainable industrial production.

In Timrå, not far from Sundsvall, we’re financing SCA’s push to make its production processes more sustainable. Our financing supported the regeneration and replanting of 68 000 hectares of forest—that’s three times the area of Stockholm. Forests sequester substantial amounts of CO₂.
CO₂ in trees and wood is locked in for decades both when in the forest and when transformed into wood products. The forestry measures we financed at SCA absorb over 44 000 additional tonnes of CO₂ equivalents per year, equal to the emissions generated by 14 000 petrol cars in one year.

Sweden is already an important producer of renewable energy. Part of this was thanks to European support for a wind farm near Lake Vänern, in Kristinehamn. The wind farm comprises a total of six Vestas V126 3.3 MW wind turbines in a project developed and constructed by Eolus. The EIB’s financing is—like a lot of our other projects over the last few years—backed by a guarantee from the EU budget as part of the European Fund for Strategic Investments.

Climate action is more important than ever, but we’ve already been on the case for a while. In 2011, we financed AB Volvo’s R&D activities to reduce emissions and fuel consumption and develop a new generation of trucks, buses and construction equipment from its base in Gothenburg. The project also backed research into the use of digitally connected transport systems that boost efficiency, road traffic safety and the reduction of noise pollution.

It’s autumn now, but it’ll be cold and dark again soon (sorry to remind you) and you’ll be glad that back in 2014 we financed Stockholm Exergi’s biomass combined heat and power plant in Stockholm. Our loan included upgrades for harbour infrastructure in Värtan. The plant delivers heat to the district heating system in Stockholm and electricity to the public grid. The high- efficiency plant saves a lot of energy compared to generating heat and electricity separately. Stockholm Exergi’s plant has a production capacity of 300 MW of heat and 130 MW of electricity, helping to make Stockholm a sustainable city.

Apartments built in the mid-sixties and early seventies under the miljonprogrammet are getting a new life. Rikshem is refurbishing apartments in Stockholm, Uppsala, Västerås, Norrköping, Östersund and Helsingborg, with backing from the European Investment Bank. With the goal of climate-neutral property management in 2030, Rikshem is investing heavily in making its housing more energy efficient by installing new windows and ventilation systems with heat recovery and, in some cases, insulating entire façades.

Not far from here, we helped finance the City of Stockholm’s reconstruction of the Slussen area. Apart from renewing the 85-year-old locks that separate the archipelago from the inland waters, the project also includes a new bus terminal, a hub for different kinds of transport, bus lanes, bicycle and pedestrian paths—and the new Golden Bridge. The new “Atrium” transport hub will connect trains, metro, buses and archipelago ferries. The remodelling of the public space on the surface creates a completely new city space with a more human dimension—and fewer cars.

Underneath your feet runs the Stockholm metro. We’ve financed the improvement and expansion of the metro network since the 1990s. Most recently, we helped to finance the extension of the Stockholm metro to Arenastaden, Barkarby, Nacka and Söderort, making sure that more people are connected to sustainable transport. That means better public transport service, reach and quality. It also has an overall positive impact on the environment by decreasing air pollution, CO₂ emissions and noise generated by street vehicles.

All toilets flush to the sea

The water you use every day goes down your drain and…Well, do you really know where it goes then? Ultimately, it flows to the sea. But, first, it has to be treated, of course. In Lidingö, the Käppalaförbundet is carrying out a major upgrade of its wastewater treatment plant, the Käppalaverket. By improving the treatment of your wastewater (okay, it’s not just yours; we hear a lot of people around Stockholm use toilets), the plant will cut pollution in the receiving waters of the Stockholm Archipelago and the Baltic Sea. That’s a benefit to nature and to you.

When Region Skåne wanted to modernise the University Hospital, we were glad to help out with the financials. Now, Malmö will get a hospital that’s more modern—replacing old facilities from the 1970s—and far more energy efficient, cutting carbon emissions. Once completed, the hospital will reduce specific energy use (kWh/m2) of the overall campus by approximately 10% per year, while the total heated floor area will increase by about 40%, improving service to its patients.

Malmö is one of the fastest-growing cities in Sweden, meaning it needs a lot more nursery and school places. With an EIB loan, the City of Malmö is upgrading and modernising a wide range of pre-primary, primary and lower-secondary education buildings providing for the educational needs of children up to the age of 15. Apart from renovating existing schools and nurseries and building new extensions, the facilities will also be made more energy efficient. Because everything we do should go at least some way towards mitigating climate change. For the sake of all of us, but in particular for the children in Malmö and beyond.

In Gothenburg, the European Investment Bank supports Transdev’s structured financing, which will bring 145 fully electric Volvo buses to the city’s streets. Since December last year, Gothenburg’s public transport has become a whole lot greener and quieter.

Ystad is a busy connection point to the Polish port of Świnoujście, the Danish island of Bornholm and to the German port of Sassnitz. Last year, the European Investment Bank committed financing to support Ystad Hamn Logistik’s plans to enlarge the port. By expanding the quays, it can accommodate new, more environmentally friendly liquid natural gas vessels up to 250 metres in length. The upgrade will also reduce the impact of noise and air pollution, because vessels can now use the onshore power supply, rather than operating their own power systems while in port.

Ferry traffic between the cities of Umeå in Sweden and Vaasa in Finland started already in 1948. Now, modern shipping technology made the case for a new, more environmentally friendly vessel. That’s where the EIB came in, helping to finance the Kvarken Link’s new hybrid dual-fuel (LNG/ LBG and battery) ship, the most environmentally friendly passenger vessel on Earth. The energy efficiency features will improve the ship’s environmental performance considerably compared to its predecessor, while also having more space for vehicles and other cargo. The crossing will be faster, and it’s definitely better than the ten-hour drive along the coast.

While working at NASA, one of the things Mehrdad Mahdjoubi focused on is how astronauts had to conserve water – not only for drinking, but also for hygiene. When he moved back home to Malmö, he created a shower that uses 90% less water than a conventional one by instantly purifying and recirculating it to the showerhead. A typical 10-minute shower uses 100 litres of water, which Mehrdad’s system reduces to only 5 to 10 litres, while also making an 80% energy saving. In 2018, his company Orbital Systems got an EIB loan to scale up production and R&D.

We put paper and cardboard in separate containers so they can be recycled. What if we could do the same with our clothing? Renewcell turns old clothes into pulp that’s used to make new fabric. Renewcell’s Circulose® is the only commercially available textile-to-textile recycled material of a quality equivalent to brand new material, a true revolution for the fashion industry. With backing from the EIB, Renewcell is now setting up its first full commercial-scale factory in Sundsvall.