Quantcast
Environmental News for a Healthier Planet and Life

Stockholm Divests From Coal, Oil and Gas

Climate
Stockholm Divests From Coal, Oil and Gas

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

Scientists are studying barley, the key ingredient in beer. Ridofranz / Getty Images

Researchers at UC-Riverside are investigating how barley, a key ingredient in beer, survives in such a wide variety of climates with hopes of learning what exactly makes it so resilient across climates.

Read More Show Less
EcoWatch Daily Newsletter
Air France airplanes parked at the Charles de Gaulle/Roissy airport on March 24, 2020. SAMSON / AFP via Getty Images

France moved one step closer this weekend to banning short-haul flights in an attempt to fight the climate crisis.

Read More Show Less
Trending
A woman looks at a dead gray whale on the beach in the SF Bay area on May 23, 2019; a new spate of gray whales have been turning up dead near San Francisco. Justin Sullivan / Getty Images

Four gray whales have washed up dead near San Francisco within nine days, and at least one cause of death has been attributed to a ship strike.

Read More Show Less
A small tourist town has borne the brunt of a cyclone which swept across the West Australian coast. ABC News (Australia) / YouTube

Tropical Cyclone Seroja slammed into the Western Australian town of Kalbarri Sunday as a Category 3 storm before grinding a more-than 600-mile path across the country's Southwest.

Read More Show Less
A general view shows the remains of a dam along a river in Tapovan, India, on February 10, 2021, following a flash flood caused by a glacier break on February 7. Sajjad Hussain / AFP / Getty Images

By Rishika Pardikar

Search operations are still underway to find those declared missing following the Uttarakhand disaster on 7 February 2021.

Read More Show Less