Oslo becomes first capital city to divest from fossil fuels
The City of Oslo today announced that it will divest its $9 billion pension fund (€8 billion) from coal, oil and gas companies, becoming the first capital city in the world to ban investments in fossil fuels.
Lan Marie Nguyen Berg, of the Green Party in Oslo says: “We are very happy to announce that Oslo will take responsibility for the climate, both through our own policies and our investments.”
“The time for climate action is now, and the new city government will address climate change both locally and globally. The reduction in pollution will make the city even better to live in, and ensure that we take our global responsibility. Divestment sends a strong message to the world prior to the Climate Change Conference in Paris that we need a strong agreement that will ensure that we avoid dangerous global warming,” she adds.