Upholding its position at the forefront of clean energy, Sweden announced in late September that it's investing $546 million in its 2016 budget to become the world's primary fossil fuel-free nation.
The integral push will be financed by heavy taxes on petrol and diesel fuel, and through airport and nuclear plant closures.
With this initiative, Sweden continues to prove that it strives to be a pioneer in sustainable development. Only last year, the Municipal Assembly of its capital, Stockholm, approved a developed roadmap to achieve the same long-term goal.
"The Government is investing in what makes Sweden strong," Sweden's Minister for Finance Magdalena Andersson said in a government statement. "In our Sweden, more people will have a job, school performance will be turned around and climate emissions will be reduced."
Sweden has an impressive résumé of green initiatives. In 2014, it generated roughly two thirds of its total energy consumption from low-carbon and clean sources, according to Bloomberg, and about 40 percent of its electricity from nuclear power plants.
Still, it’s planning to close the doors of numerous older reactors in the near future.
All of this goes to show that the Scandinavian country is hoping to lead by example in the run up to the climate talks at the COP21 in Paris next month.