Münster is the first German city to decide to withdraw public funds from climate-damaging industries. The financial and Main Committee of the City Council decided in a result of 4:11. that two municipal funds were no longer allowed to invest in the gas, oil and coal industry from 2016. The request came from the Green party and the SPD1 . The city justified its decision for divestment stating that investments in coal, gas and oil are not compatible with climate change targets and will also bear a financial risk2 . In addition, Münster will no longer invest in companies that produce nuclear energy and the controversial natural gas extraction method, fracking. Reduction in the future flows of money in companies that allow child labor, produce weapons of war or modify plants genetically are also expected. Two funds in which around EUR 30 million are invested are affected. These funds must now shed shares of RWE as well as OVM and Enel3.
Münster is the first city in Germany, to follow the global divestment movement. Throughout Germany there are already several campaigns that advertise the application of public money, that takes into account sustainability and environmental aspects. In other countries such as Norway, the capital deduction has already found far more appeal. The majority of divestment activities are focused , however, on the US4 .
- taz.de: Münster will RWE Aktien verkaufen, http://www.taz.de/Divestment-in-Deutschland/!5248733/, 04.11.2015, accessed on 09/11 .2015 [↩]
- gofossilfree.org: Münster: Germany’s deutschlands erste stadt wird fossil free, http: / /gofossilfree.org/de/munster-deutschlands-erste-stadt-wird-fossil-free/, 04.11.2015, accessed on 09.11.2015 [↩]
- taz.de:Münster will RWE Aktien verkaufen, http://www.taz.de/Divestment-in-Deutschland/!5248733/, 04.11.2015, accessed on 09.11.2015 [↩]
- taz.de: Münster wants to sell RWE shares, http://www.taz.de/Divestment-in-Deutschland/!5248733/, 04.11.2015, accessed on 09.11.2015 [↩]