The first country will join the list of nearly 900 institutions that are divesting themselves: Ireland will draw its money from fossil fuels.
Ireland could become the first country in the world to completely abandon fossil fuel investments, after the country's lower house, Dáil Éireann, pbaded the Fossil Fuel Debree Bill [19659004]. quickly, according to The Guardian.
Members of the Irish Dail (Parliament) pbaded the Fossil Fuel Debree Bill, which requires the fund to sell direct investments in fossil fuel companies in five years and not Future investments in the industry. "Countries around the world now urgently need to follow the example of Ireland and dispose of fossil fuels," said Gerry Liston, a jurist with the Global Legal Action Network, who drafted the draft law,
. The Fossil Fuel Debree Bill, introduced by independent MP Thomas Pringle, aims to help meet Ireland's climate change commitments, which have been agreed in the Canada-United States Climate Change Agreement. Paris
. oil companies – but only if the money helps finance their abandonment of fossil fuels. Critics have questioned this idea and said that keeping the stock in these companies and pushing companies to be more energy friendly is more impactful. The Norwegian parliament voted in 2015 to sell its investments in coal, and the country's central bank recommended that its $ 1 trillion sovereign fund sell its rights to oil companies – but no country has yet cleared its fossil fuel reserves.
Faith-based organizations, universities, and even major cities, including New York City, have announced plans to divest their multi-billion dollar pension funds from fossil fuel companies, few countries have done so. their best.
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