Skip to content
  • Our Work
    • Our Work
    • Climate
    • Forests
    • Freshwater
    • Oceans
    • Wildlife
    • Sustainable Finance
    • Sustainable Business
  • About Us
    • About us
    • Chairman & CEO’s Note
    • Board of Directors
    • Senior Management
    • Whistleblowing Policy
    • Volunteering
    • Careers
  • Resources
    • Resources
    • Annual reports
    • News & Events
    • Blog
  • Partnerships
    • Partnerships
    • Corporate Partnerships
Menu
  • Our Work
    • Our Work
    • Climate
    • Forests
    • Freshwater
    • Oceans
    • Wildlife
    • Sustainable Finance
    • Sustainable Business
  • About Us
    • About us
    • Chairman & CEO’s Note
    • Board of Directors
    • Senior Management
    • Whistleblowing Policy
    • Volunteering
    • Careers
  • Resources
    • Resources
    • Annual reports
    • News & Events
    • Blog
  • Partnerships
    • Partnerships
    • Corporate Partnerships
Menu
  • Support WWF
    • Donate
    • Adopt
    • Shop
Menu
  • Support WWF
    • Donate
    • Adopt
    • Shop
  • Our Work
    • Our Work
    • Climate
    • Forests
    • Freshwater
    • Oceans
    • Wildlife
    • Sustainable Finance
    • Sustainable Business
  • About Us
    • About us
    • Chairman & CEO’s Note
    • Board of Directors
    • Senior Management
    • Whistleblowing Policy
    • Volunteering
    • Careers
  • Resources
    • Resources
    • Annual reports
    • News & Events
    • Blog
  • Partnerships
    • Partnerships
    • Corporate Partnerships
DONATE
ADOPT
SHOP

Building a future in which people live in harmony with nature

Facebook Instagram Youtube Linkedin Twitter

More countries join public movement away from coal

More countries join public movement away from coal

September 5, 2013
Share on facebook
Share on twitter
Share on linkedin

Gland, Switzerland: The announcement today [1] that five Nordic countries will stand with the US in ending public finance for new coal-fired power plants overseas, except in rare circumstances, is significant and builds on the growing movement away from coal, the most polluting energy source, says WWF.

Denmark, Finland, Iceland, Norway and Sweden have joined the US in adopting this public position, further strengthening a growing trend among major financiers and donors to switching investments from fossil fuels via a transition to clean, renewable energy.

Samantha Smith, WWF’s Global Climate & Energy Initiative leader, says with the leadership seen from these countries, the World Bank and more recently the European Investment Bank, it is time for other major institutions to follow their lead.

“The need to act is great and the time to act is now. We are calling on financial institutions – both public and private – to commit US$40 billion in new investments into renewable energy by June 2014, and to phase out investments in fossil fuels through a just transition,” said Smith.[2]

“The risk of ignoring what the science is telling us is huge. The longer we delay real action, the more expensive addressing climate change will get. That’s why solutions that are available today in the form of renewable energy should be rapidly scaled up,” said Smith.

The European Bank for Reconstruction and Development is also currently considering its policy position on investments in all energy types, including coal.

“We call on EBRD to go fossil free and end coal financing. EBRD must increase its investments in sustainable, renewable energy because, as the leaders of the five countries and the US said in their statement, climate change is one of the foremost challenges for our future economic growth and well-being,” said Smith.

“WWF also calls on the Nordic countries themselves to make the change in their national investments, which are substantial,” added Smith.

The Norwegian sovereign wealth fund is the world’s largest, and has investments in coal and oil with emissions equivalent to more than 108 times the emissions of Norway. 

WWF is calling on the Norwegian sovereign wealth fund to move away from coal and tar Sands financing and to allocate 5% of its portfolio to renewable energy. WWF said countries like Sweden must make the same shift within its state pension funds (AP-fonderna), where a large majority of energy investments today go to coal, oil and gas.

The announcement from these countries also signals a possible change in political will at the international climate negotiations, which next meet in November in Poland.

“It will be vital to make concrete progress at the next UN climate negotiations meeting as we near the tipping point in climate change,” said Smith.

Notes to editors: 
1. Joint Statement by Denmark, Finland, Iceland, Sweden, Norway, US
2. WWF’s global campaign Seize Your Power

For more information please contact
Mandy Jean Woods mwoods@wwf.org.za / +27 82 553 4211 (please send SMS if urgent) @MandyJeanWoods
Samantha Smith ssmith@wwf.no / @pandaclimate

About WWF
WWF is one of the world’s largest and most respected independent conservation organisations, with over 5 million supporters and a global network active in over 100 countries. WWF’s mission is to stop the degradation of the earth’s natural environment and to build a future in which humans live in harmony with nature, by conserving the world’s biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption.

The Global Climate & Energy Initiative (GCEI) is WWF’s global programme addressing climate change, promoting renewable and sustainable energy, scaling up green finance, engaging the private sector and working nationally and internationally on implementing low carbon, climate resilient development.

See www.panda.org/news for latest news and media resources and Seize Your Power! campaign news
Read The Energy Report at www.panda.org/energyreport

Seize Your Power! Read and sign the global renewable energy campaign pledge here: www.panda.org/seizeyourpower

PrevBack to Previous Page
NextNext

RELATED PUBLICATIONS

RELATED LINKS

More about Seize Your Power

SHARE THIS

Share on facebook
Share on twitter
Share on linkedin

RELATED ARTICLES

WWF-Singapore’s new report finds that clean cooling solutions are critical for Singapore to achieve climate targets

June 30, 2022

WWF-Singapore and Temasek Foundation open admissions to youths to join Class of 2022 for Youth Sustainability Incubator Programme – We Got This

April 12, 2022

WWF-Singapore launches pilot aimed at reducing e-commerce packaging waste

April 5, 2022
Subscribe to the WWF newsletter and stay up-to-date with the latest news on WWF’s work.
Facebook Instagram Youtube Linkedin Twitter

Building a future in which people live in harmony with nature

Contact Us
354 Tanglin Road #02-11, Tanglin Block Tanglin International Centre Singapore 247672

+65 6730 8100

info@wwf.sg

Our Work
  • Climate
  • Forests
  • Freshwater
  • Oceans
  • Wildlife
  • Sustainable Finance
  • Sustainable Business
Menu
  • Climate
  • Forests
  • Freshwater
  • Oceans
  • Wildlife
  • Sustainable Finance
  • Sustainable Business
About Us
  • Work With Us
  • About WWF
  • Chairman & CEO Note
  • Board and Leadership
  • Senior Management
  • Whistleblowing Policy
  • Personal Data Protection Policy
Menu
  • Work With Us
  • About WWF
  • Chairman & CEO Note
  • Board and Leadership
  • Senior Management
  • Whistleblowing Policy
  • Personal Data Protection Policy
Resources
  • Blog
  • News & Events
Menu
  • Blog
  • News & Events
Partnerships
  • Corporate Partnerships
  • Sustainable Business
  • Sustainable Finance
Menu
  • Corporate Partnerships
  • Sustainable Business
  • Sustainable Finance
Be A Part of WWF
  • Adopt A Species
  • Be A Volunteer
  • Create Your Own Fundraiser
  • Online Shop
Menu
  • Adopt A Species
  • Be A Volunteer
  • Create Your Own Fundraiser
  • Online Shop

©️ 2021 WWF – World Wide Fund for Nature (Singapore) Limited (UEN 200602275E) |
©️ 1986 Panda Symbol WWF – World Wide Fund For Nature (formerly World Wildlife Fund) | ®️ “WWF” is a WWF Registered Trademark