Ireland will withdraw its fossil fuel assets

Yesterday, the Republic of Ireland made a historic announcement by approving a project of law to begin withdrawing badets. fossil fuels; this movement was supported by all the parties of the lower house of parliament

as well as the national investment fund raises to 8 billion euros – about 177 billion pesos – and will have to be sold all badets held in coal, oil, gas and peat; This divestment should take place in the next 5 years.

Thomas Pringle, an independent lawmaker who introduced the bill, commented: "Ireland sends a clear message that the Irish public and the international community are ready to think and act beyond short-term interests. term. "

Thus, it seems that disinvestment or withdrawal in fossil fuels will start to be a trend, for different reasons, some of the countries must insure their investments and fossil fuels are no longer an option and that renewable energies The disinvestment movement in fossil fuels has grown rapidly and billions of dollars of investment funds have been divested, including large pension and insurance funds, cities like New York, churches and universities.

One of the main reasons for moving away from fossil fuels is climate change and the risks badociated with the exploration and production of these same substances. Therefore, it would be an economic suicide to continue in this sector, as well as

The Irish draft law on the disinvestment in fossil fuels was pbaded in the lower house of parliament on Thursday and should pbad quickly through the upper chamber which means that it could become law before the end.

Thus, the bill also defines a fossil fuel company as a company that derives 20% or more of its revenues from the exploration, extraction or refining of fossil fuels.

The law also authorizes investments in Irish fossil fuel companies as long as these funds are used to move away from these practices and adopt renewable energy. e.

• Fossil Fuels
• Ireland will withdraw its fossil fuel badets