The City of Stockholm has decided to purchase permanent carbon removals from Stockholm Exergi equivalent to 50,000 tonnes per year for fifteen years. This makes the City of Stockholm the world’s fifth largest buyer of permanent carbon removals.
– The City of Stockholm has long been at the forefront of the climate transition. They are once again showing leadership in how municipalities, companies and other actors should act by combining deep emissions reductions with purchases of permanent carbon removals. At the same time, they are helping to build a new industry and create a market for carbon removals, says Anders Egelrud, CEO of Stockholm Exergi.
– The City of Stockholm aims to become territorially climate positive by 2030 and completely fossil fuel-free by 2040. Through this purchase, Stockholm is taking a global leadership position among climate-ambitious cities and becomes the world’s fifth largest buyer of permanent carbon removals. This is an important signal at a time when the green transition must accelerate to address the climate crisis, says Karin Wanngård (S), Mayor of Finance for the City of Stockholm.
In its Environmental Programme and Climate Action Plan, the City of Stockholm has established the goal of becoming climate positive by 2030 and fossil fuel-free by 2040. This means that territorial emissions within the city boundaries must decrease sharply by 2030, and that the removal of greenhouse gases must exceed emissions. An important part of this work is reducing the climate footprint of the city’s own companies.
The investment in carbon removals complements the city’s extensive efforts to reduce fossil emissions and aims to counterbalance emissions within the municipal group that are very difficult or too costly to avoid. These include hard-to-abate emissions from construction materials and emissions linked to wastewater treatment.