Stockholm Divest from Coal, Oil and Gas

For Immediate Release

Contact: 

Christian Tengblad, 350.org Sweden Divestment Organiser, christian@350.org, +46 70 400 1407

Andrew Maunder, Fossil Free Stockholm campaigner, andrew.maunder@btinternet.com, +46 7 224 29 536

Stockholm Divest from Coal, Oil and Gas

Climate campaigners urge Swedish government to follow the capital’s example by keeping its coal in the ground

Stockholm, Sweden - 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. [1]

“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,” says Andrew Maunder who has campaigned with Fossil Free Stockholm for divestment for over 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,” [2] says Christian Tengblad, Swedish divestment organiser at 350.org. “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.”

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350 is the red line for human beings, the most important number on the planet. The most recent science tells us that unless we can reduce the amount of carbon dioxide in the atmosphere to 350 parts per million, we will cause huge and irreversible damage to the earth. But solutions exist. All around the world, a movement is building to take on the climate crisis, to get humanity out of the danger zone and below 350. This movement is massive, it is diverse, and it is visionary. We are activists, scholars, and scientists. We are leaders in our businesses, our churches, our governments, and our schools. We are clean energy advocates, forward-thinking politicians, and fearless revolutionaries. And we are united around the world, driven to make our planet livable for all who come after us.

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