Stuttgart will no longer support not environmentally compliant companies

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The city of Stuttgart, Germany, announced its decision to divest itself from the not environmentally compliant companies, says the Oilprice.com. Local officials explain that they are going to stop any investment in companies involved in or producing oil, coal, fracking, shale gas or anything that is genetically modified.

City spokeswoman added that they have already taken measures to divest the city: “We’ve hired an adviser to cross check which of the listed companies don’t comply with our criteria and no longer qualify for our investments.”

Besides she stated that the authorities are not going to publish or disclose by any other way a list of the companies that do not comply with the requirements of environmental safety as they do not want to “name and shame companies.”

Stuttgart is the site of many German large enterprises – such as Daimler AG, Porsche SE, Robert Bosch GmbH and about four hundred other small to medium car-parts companies. Divestment policy has been already adopted in the city of Dusseldorf back in 2007.