Orebro is the first city in Sweden, and the 30th local authority world-wide, to commit to pull its funds from fossil fuels. Following cities such as San Francisco (USA), Boxtel (The Netherlands) and Oxford (United Kingdom), Orebro will align its investments with its environmental targets, becoming fossil-fuel free by 2050. The ICLEI member has already made significant contributions to phasing out its association with fossil-fuel powered energy companies, reducing investments from €2 million to €655,000.

“We need to take action on climate change on various levels. Our efforts are more meaningful when we ensure that our financial assets don’t work in the opposite direction,” says Lena Baastad, Mayor of Orebro. “We have high ambitions for our work on climate change. A few years from now, Orebro will be self-sufficient with renewable energy thanks to our investments in wind and solar power.”

Sweden’s new centre-left national government has made climate change and the environment a priority, appointing Green Party leader Asa Romson as Environment Minister and Vice Prime Minister. The government has recently called on the European Union to adopt a greenhouse gas emission reduction target of 50 percent by 2030, 10 percent higher than current proposals.

For more information, visit the Go Fossil Free website.