Achieving the Paris Agreement targets will require a significant shift in global energy systems and investment patterns, including in developing countries. Informed policy decisions on climate aid require an understanding of the effectiveness of interventions. This report examines the emission reduction performance of the financing portfolios of three Swedish institutions: Sida, Swedfund and the Nordic Development Fund. The aim is to assess whether their interventions can contribute to the emission reductions required to keep global warming below 1.5 degrees.