Company News

Ireland Will Become the World's First Country to Divest from Fossil Fuels

placeholder+imagePosted on: 07/20/2018

We know that UK church plans to dump $21 billions of fossil fuels if the companies do not align to climate change goals by 2023. Now, the practice levels up to a national action in Ireland. The Republic of Ireland will become the first country in the world to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament on July 12th (Yessenia Funes).
The bill is expected to pass the upper chambers of parliament easily (Yessenia Funes). If that happens, the $ 9.3 billion national investment fund is going to sell its $350 million investments in coal, oil, gas, and peat, which is a brown, soil-like material, widely cut and dried for use in fuel, reported by Yessenia Funes on Earther. The practice is required to happen "as soon as is practicable," which is expected to mean within five years (Damian Carrington).
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UK Church
Yessenia Funes
Damian Carrington