Ireland to become first country to divest from fossil fuels

Signal of change / Ireland to become first country to divest from fossil fuels

By Ella-Louise Micallef / 21 Feb 2018

Ireland has voted to become the first country to fully divest all public money from fossil fuels. The Irish Parliament passed the legislation with 90 to 53 in favour of removing coal, oil and gas from the £6.8bn Ireland Strategic Investment Fund. The bill is likely to pass into law in the next few months after it has been reviewed by the financial committee.

So what?

The principle of ethical financing has emerged as a growing symbol of the changes corporations (and countries) can make to help combat climate change. A growing number of entities - such as Edinburgh University - are now divesting from fossil fuels, which in turn is putting increasing pressure on the fossil fuel industry.

Which other countries will follow Ireland's lead? 

Sources

http://www.independent.co.uk/news/world/europe/ireland-votes-divest-fossil-fuels-climate-change-world-first-country-parliament-renewable-energy-a7549121.html

What might the implications of this be? What related signals of change have you seen?

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