Copenhagen, which is working on becoming carbon-dioxide neutral by 2025, has decided to put its money where its commitment is by pulling municipal investment funds from companies in the coal, oil and gas industries.
The city's investment fund, which pays for development and city projects, has about $1 billion invested; no figure was given for how much of that is invested in companies with fossil-fuel operations.
Copenhagen is one of two Scandinavian capitals that have decided on disinvestment as a strategy; Oslo is the other. Aside from the two capitals, Roskilde in Denmark. Fossil Free, an anti-fossil fuel advocacy group, says that more than 60 towns and cities and nearly 500 other organizations have signed on to divest over $3.4 trillion from the industries.