Ireland set to become the world's first country to divest from fossil fuels
The Republic of Ireland is on track to become the first country in the world to divest from fossil fuels. On Thursday, Ireland's lower house of parliament passed a bill requiring the government to sell more than $370 million of investments in coal, oil, gas and peat “as soon as is practicable.”
Reuters reported the Fossil Fuel Divestment Bill requires the sale of shares in fossil fuel companies within five years and prevents future investment in the fossil fuel industry.
The bill is now headed to the country’s upper house, where it is expected to pass quickly, according to The Guardian.
See http://www.newsweek.com/ireland-set-divest-fossil-fuels-global-first-1022398
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Climate change activists are heralding Ireland, which is set to pull funding for fossil fuels Activists see move as a significant step in efforts to slow environmental degradation. |