The Riksbank can apply sustainability considerations to its operations in accordance with the current Sveriges Riksbank Act See Sveriges Riksbank (2021a) and Sveriges Riksbank (2021b) p. 6. . The proposed Sveriges Riksbank Act planned to come into force on 1 January 2023 makes it even clearer that the Riksbank shall take sustainability into account in the management of its assets. See Government Bill 2021/22:41, A new Sveriges Riksbank Act (in Swedish). As far as is possible considering objectives and tasks, the Riksbank chooses a composition of assets for the foreign exchange reserves that limits their total carbon footprint, without substantially reducing the return or increasing the risk. The Riksbank also makes an assessment based on sustainability factors before new assets are included in the foreign exchange reserves. Factors such as climate, social responsibility and governance are assessed. This in order to create good management based on democratic principles; see Sveriges Riksbank (2021b). Considering sustainability has led the Riksbank to adjust its holdings in recent years. In 2019, the Riksbank decided to invest only in Australian states and Canadian provinces with the same or lower carbon footprint as their respective countries. For this reason, the Riksbank sold holdings of bonds issued by the Canadian province of Alberta and the Australian states of Queensland and Western Austral-ia. See Deputy Governor Martin Flodén’s speech, Riksbank selling bonds for climate reasons, November 2019.