Ireland became the first country in the world to divest in fossil fuels

Ireland voted to become the first country
in the world to divest in fossil fuels.
A few days ago, the House of Commons of the Irish Parliament has passed the fossil fuel divestment bill
.

Ireland became the first country in the world to divest in fossil fuels

The landmark move means that public money already invested in the coal, oil and gas industries will have to be withdrawn
.

The Irish Strategic Investment Fund (ISIF) is expected to sell its investments in
the fossil fuel sector.
In June, the fund invested €418 million
in 150 fossil fuel companies.

While the bill still needs approval by the House of Lords, government and cross-party support means it is likely to become law
before the end of the year.

Following a long campaign led by Ireland's international development charity Trócaire, the bill was first introduced
by nonpartisan MP Thomas Pringle.

Éamonn Meehan, executive director of Trócaire, said: "Today, Congress issued a strong statement that responds to the public's call for leadership on this issue and sends a strong signal to the international community that the phase-out of fossil fuels
needs to be accelerated if global climate goals are to be met.
”

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