Sweden's central bank has sold off bonds from parts of Australia and the oil-rich Canadian province of Alberta because it felt that greenhouse gas emissions in both countries were too high.

Riksbank Deputy Governor Martin Floden said on Wednesday the bank would no longer invest in assets from issuers with a large climate footprint, even if the yields were high.

Sweden's Riksbank has started to take climate change into consideration for its investments. Credit:Bloomberg

"Australia and Canada are countries that are not known for good climate work," Mr Floden said in a speech on "Monetary policy in a changing world" at Orebro University in Sweden.

"Greenhouse gas emissions per capita are among the highest in the world."