September 4, 2017 / 8:34 AM / in 10 months

Swedish center-left govt promises $627 million for climate in 2018 budget

STOCKHOLM (Reuters) - Sweden’s center-left government will invest a total of 5 billion Swedish crowns ($627 million) as part of its 2018 budget to counter the effects of climate change, it said on Monday.

FILE PHOTO: Sweden's Deputy Prime Minister for International Development Cooperation and Climate Isabella Lovin delivers remarks at the "Our Ocean" conference at Georgetown University in Washington, U.S., September 16, 2016. REUTERS/Gary Cameron

“The effects of climate change are serious and they are being felt now,” Deputy Prime Minister Isabella Lovin said.

Measures will target both industry and individuals, for example by increasing subsidies for hybrid and electric cars.

Some of the measures had already been announced.

Reporting by Simon Johnson

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