Quantcast

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

Coldplay playing at Stade de France in Paris in July 2017. Raph_PH / Wikipedia / CC BY 2.0

Coldplay is releasing a new album on Friday, but the release will not be followed by a world tour.

Read More Show Less
Ash dieback is seen infecting a European ash (Fraxinus excelsior) in Bottomcraig, Scotland, UK on Aug. 10, 2016. nz_willowherb / Flickr

Scientists have discovered a genetic basis to resistance against ash tree dieback, a devastating fungal infection that is predicted to kill over half of the ash trees in the region, and it could open up new possibilities to save the species.

Read More Show Less
Sponsored
Truth in Action is a day-long global conversation on the climate crisis and how we solve it. The Climate Reality Project

Former Vice President Al Gore kicked off 24 hours of climate talks in the U.S. and 77 other countries around the world Wednesday night.

Read More Show Less
Activists highlighted the climate emergency outside Scottish Government headquarters at St Andrew's House in Edinburgh on Oct. 13, 2017. Usage of the term "climate emergency" spiked in 2019, according to Oxford Dictionaries.

By Jessica Corbett

Climate advocates and experts celebrated Oxford Dictionaries' announcement Wednesday that "climate emergency" is the Oxford Word of the Year 2019.

Read More Show Less
Using more bamboo for building could slow climate change. kazuend / Unsplash

By Kieran Cooke

There could be a way of countering one key aspect of the climate emergency by making much greater use of a widely-available plant: bamboo building.

Read More Show Less