12 cities around the world pledge divestment from fossil fuel


Protesters with caricature heads of German Federal Chancellor Angela Merkel and Economy and Energy Minister Peter Altmaier demonstrate in front of the German federal Chancellery against delays in phasing out coal energy in the country, on January 29, 2020 in Berlin, Germany.

BERLIN — 10 cities around the world on Tuesday joined New York and London in committing to divest from fossil fuel companies as part of efforts to combat climate change.

Berlin, Cape Town, Los Angeles, New Orleans, Oslo and others pledged to take “all possible steps to divest city assets from fossil fuel companies and (increase) financial investments in climate solutions.”

The cities that have a total of 36 million residents — which also include Bristol, Durban, Milan, Pittsburgh and Vancouver — said they will ensure that pension funds and other public money will be invested in “a green and just recovery from Covid-19.”

Environmental campaigners and top officials such as U.N. Secretary-General Antonio Guterres have warned that trillions being spent by governments to stimulate pandemic-wracked economies should not be used to subsidize fossil fuel companies, which could jeopardize efforts to tackle another global crisis: climate change.

Berlin Mayor Michael Mueller expressed hope that the cities’ decision to pull out of “climate-damaging and ethically problematic investment strategies” would send a political signal to other investors to do the same.

Related Video:



Source link

Discover

Sponsor

Latest

Is Apathy an Early Sign of Dementia?

By Serena Gordon HealthDay Reporter ...

Hyundai Motor Group reveals E-GMP electric platform for Ioniq 5, et al

Just as Volkswagen has the MEB platform for its ID. line of electric cars, Hyundai Motor Group is launching a modular architecture of...

Amwell co-CEO Ido Schoenberg on growth of teleheatlh after coronavirus

Telehealth company Amwell made its public market debut Thursday after months of rapid growth because of the coronavirus pandemic. But co-CEO Ido Schoenberg told CNBC...

Medical regulation during the Covid-19 pandemic

Medical regulation during Covid-19 pandemic, will require not only the doctors, but also the public, other healthcare practitioners, health...

China box-office record reveals global pent-up demand for movies

Imax broke its box-office records in China over the Lunar New Year holiday weekend and the results foretell what will happen when more...