SSAB: highest emissions

SSAB, Stora Enso and SAS are the biggest climate culprits on the Stockholm stock market, according to a new survey by consultants South Pole Group.

Noel Morrin, sustainability manager at Stora Enso, says it features high on the list because it is more international than its Nordic competitors. The company plans to achieve almost zero emissions through investment and purchasing renewable electricity.

On the other hand manufacturer Atlas Copco performed well. An investment in the company produces a tenth of the emissions as an investment in ABB.

Sweden unlikely to collect damages

Finance Minister Magdalena Andersson (S) said in Dagens Nyheter on Thursday that the Ministry of Finance had begun to look at how many emissions-rigged Volkswagen cars had been incorrectly classed as green cars, to see if the government had paid out subsidies on false grounds. The Swedish Tax Agency (Skatteverket) has also said it is analysing the matter to see if Sweden can claim damages of the carmaker.

However, green car classification is based solely on carbon emissions. In the case of the Volkswagen scandal, the diesel cars emit nitrogen dioxide, so there would appear to be very little opportunity for Sweden to pursue the case, says the Swedish Transport Agency (Transportstyrelsen).

Meanwhile, the European Investment Bank may ask Volkswagen to pay back loans equivalent to some SKr 17 billion. Much of the money has gone to research aimed at developing cleaner engines.