Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

Stockholm Divests From Coal, Oil and Gas

Climate

After one-and-a-half years of citizen-led campaigning, Fossil Free Stockholm declare victory today as the Swedish capital joins cities around the world in withdrawing their funds from coal, oil and gas companies. The amendment of the city's investment policy has led to the withdrawal of approximately 30 million SEK from fossil fuel companies.

“Stockholm's decision to divest from companies driving the climate crisis demonstrates that it's no longer morally acceptable to invest in or support business as usual for the fossil fuel industry," said Andrew Maunder who has campaigned with Fossil Free Stockholm for divestment for more than a year.

“Stockholm's political leaders clearly understand that averting the climate crisis means doing everything in their power to keep any more fossil fuels from being burnt. We congratulate them on this historic decision and hope our national politicians are paying close attention, as they consider whether or not to keep Sweden's own lignite reserves in Germany in the ground," Maunder continues in reference to the upcoming decision over the sale of Vattenfall's coal assets to foreign investor, EPH.

Stockholm joins Malmö, Uppsala, Copenhagen, Oslo, Paris and cities all across the world in cutting their financial ties to the fossil fuel industry.

“This year has seen unparalleled climate action with thousands of people taking to the streets, joining civil disobedience to keep Vattenfall's coal in the ground and making creative calls for divestment," Christian Tengblad, Swedish divestment organizer at 350.org, said. “As our capital city takes a stand against oil, coal and gas, our national government needs to follow suit and take responsibility for its carbon reserves by making sure the state-owned lignite in Germany never gets burned."

YOU MIGHT ALSO LIKE

David Suzuki: Feed-In Tariffs Accelerate the Renewable Energy Revolution

Court Documents Show Peabody Energy Funded Dozens of Climate Denial Groups

Noam Chomsky: The Doomsday Clock Is Nearing Midnight

Apple Is Generating So Much Renewable Energy It Plans to Start Selling It

EcoWatch Daily Newsletter

Marco Bottigelli / Moment / Getty Images

By James Shulmeister

Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change.

If you have a question you'd like an expert to answer, please send it to climate.change@stuff.co.nz

Read More Show Less
Luxy Images / Getty Images

By Jo Harper

Investment in U.S. offshore wind projects are set to hit $78 billion (€69 billion) this decade, in contrast with an estimated $82 billion for U.S. offshore oil and gasoline projects, Wood Mackenzie data shows. This would be a remarkable feat only four years after the first offshore wind plant — the 30 megawatt (MW) Block Island Wind Farm off the coast of Rhode Island — started operating in U.S. waters.

Read More Show Less
Giacomo Berardi / Unsplash

The COVID-19 pandemic has revealed both the strengths and limitations of globalization. The crisis has made people aware of how industrialized food production can be, and just how far food can travel to get to the local supermarket. There are many benefits to this system, including low prices for consumers and larger, even global, markets for producers. But there are also costs — to the environment, workers, small farmers and to a region or individual nation's food security.

Read More Show Less
Pexels

By Joe Leech

The human body comprises around 60% water.

It's commonly recommended that you drink eight 8-ounce (237-mL) glasses of water per day (the 8×8 rule).

Read More Show Less

By Michael Svoboda

The enduring pandemic will make conventional forms of travel difficult if not impossible this summer. As a result, many will consider virtual alternatives for their vacations, including one of the oldest forms of virtual reality – books.

Read More Show Less
Public Employees for Environmental Responsibility on Thursday accused NOAA of ignoring its own scientists' findings about the endangerment of the North Atlantic right whale. Lauren Packard / Flickr / CC BY 2.0

By Julia Conley

As the North Atlantic right whale was placed on the International Union for Conservation of Nature's list of critically endangered species Thursday, environmental protection groups accusing the U.S. government of bowing to fishing and fossil fuel industry pressure to downplay the threat and failing to enact common-sense restrictions to protect the animals.

Read More Show Less

Trending

Pexels

By Beth Ann Mayer

Since even moderate-intensity workouts offer a slew of benefits, walking is a good choice for people looking to stay healthy.

Read More Show Less