Home | About | Donate

Another Green Victory: Copenhagen Set to Divest from All Fossil Fuels


#1

Another Green Victory: Copenhagen Set to Divest from All Fossil Fuels

Nadia Prupis, staff writer

The Copenhagen City Council on Tuesday is expected to approve a vote to divest the city's investment fund, worth 6.9 billion kroner, or roughly $1 billion USD, from all its fossil fuels holdings.

If the vote passes, the Danish capital will sell off its stocks and bonds in coal, oil, and gas in its continued effort to become "the world’s first CO2-neutral capital by 2025," Mayor Frank Jensen told local media.

The exact amount the city has invested in fossil fuels is unavailable.


#2

Great news! But probably not the best timing. Given the low price of oil, selling their investments in that now is probably a financial loss for the city.