Ambitious $546m annual investment plan will deliver new target to become one of world's first fossil fuel free economies Sweden has this week unveiled ambitious new plans to become one of the first countries in the world to become a fossil fuel free economy, committing to invest 4.5 billion kronor ($546m) in climate-related...
Stockholm has announced plans to become a fossil fuel free nation, investing $546m in climate-protection measures, that include clean technologies, such as wind and solar power, energy storage, smart grids and clean transport. Stockholm received around two-thirds of its electricity from clean energy or low carbon sources last year, and although no date has been set for becoming completely fossil free, Sweden may reach that target by 2050. Stockholm's Environment Minister, Aasa Romso, said that more investment in renewable energy will be needed to meet the country's 2020 target of lowering CO2 emissions by 40% by 2020.