The purpose of this Economic Commentary is to calculate the carbon footprint of the Riksbank’s foreign exchange reserves while also analysing the method for calculating the carbon footprint of portfolios consisting of bonds issued by countries and regions. This is a first step in the Riksbank’s work of examining how one can measure climate-related financial risks for these assets. New methods of measuring such risks for both portfolios and foreign exchange reserves will evolve over time, and the Riksbank is following this development. Other types of risks associated with sustainability are also increasingly coming into focus. In addition to the climate-related risks, risks related to social responsibility and governance are also becoming increasingly important for asset managers when making assessments before purchasing new assets. This is something that the Riksbank takes into account, in addition to the climate-related risks. The Riksbank will also continue to analyse issues related to climate-related risks in financial asset management. The Riksbank also follows the work of relevant international organizations, networks and standard-setting bodies.