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2 March 2015 – Oslo is world’s first capital to divest from fossil fuel

Oslo (Norway) is the first capital city in the world to commit to pulling all investment from the fossil fuel industry. A total of €6.4 million of coal investments from Oslo council’s pension fund will be moved out of the sector and invested elsewhere.

Oslo’s finance commissioner Eirik Lae Solberg said: “We are pulling ourselves out of coal companies, because power generation based on coal is one of the most environmentally harmful in the energy sector. We want to use our investments to promote more environmentally-friendly energy and a more environmentally-friendly society.”

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