Divestment movement: Copenhagen stopped investing in fossil energy

Divestment movement: Copenhagen stopped investing in fossil energy

558
0
SHARE

The divestment movement is a worldwide movement that encourages investors and institutions, not more companies to invest in, which make their money from fossil fuels. The major oil and gas suppliers fall there as well as operators of coal mines. A variety has the movement already joined institutions – as the “Church of England” and the Norwegian sovereign wealth Fund. The currently newest member now is the Danish capital of Copenhagen. This has an investment fund, which manages the reserves of the city. Now, however, the political representatives of the city decided that the Fund is separate from all investments in the fields of oil, gas and coal.

So far, however no decision was taken, how the money should be invested instead. Investments in renewable energy, but also a classic investment strategy would be possible. Copenhagen Mayor Frank Jensen, who presented the plan to the public, it also relies on the generic effect: no more capital “is me, which has made a clear decision, as we do here. But I think in the wake of the climate summit of Paris some will follow suit. This is a rapid development”said the politician. It is unclear how much money the urban Fund but actually new must invest.