The climate transition

Sweden must be climate neutral by 2045 at the latest according to the climate targets set by the Swedish parliament. After that date, emissions of greenhouse gases must be negative, i.e., fewer emissions may be generated than absorbed through mainly sequestration in forests and land. Remaining emissions must be at least 85 per cent lower than 1990 emission levels. Emissions from domestic transport must be reduced by at least 70 per cent by 2030 at the latest compared to 2010 levels.

In order to achieve Sweden’s net zero target, a major adjustment will take place in the Swedish primary sector. The transition will largely take place through the electrification of industrial processes.

According to Swedenergy’s 2023 assessment, this will result in industrial electricity demand increasing from 46 TWh in 2022 to approximately 130 TWh in 2045. The largest increase is expected in the steel industry. The mining industry is also expected to significantly increase electricity consumption. The chemical industry has greater room for manoeuvre. The forest industry’s electricity consumption is expected to remain at roughly the same levels as today. However, the forest industry’s own production of electricity, currently around 6 TWh, may decrease if the production of biofuels increases or if bio-CCS is introduced in the sector.