Ireland set to sell off €318 million investments in fossil fuels

New bill will see State become first country in the world to divest from fossil fuel assets

The Fossil Fuel Divestment Bill, passed in the Dáil on Thursday, now goes to the Seanad, where it is expected to go through quickly and become law by the end of the year, Deputy Thomas  Pringle said.

The Fossil Fuel Divestment Bill, passed in the Dáil on Thursday, now goes to the Seanad, where it is expected to go through quickly and become law by the end of the year, Deputy Thomas Pringle said.

Ireland is set to become the first country in the world to divest public money from fossil fuel assets following a landmark vote in the Dáil on Thursday.

The Fossil Fuel Divestment Bill, introduced by independent TD Thomas Pringle, will compel the Ireland Strategic Investment Fund (ISIF) to sell off its investments in the global fossil fuel industry, which as of June 2017, stood at €318 million, across 150 companies worldwide.

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