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Parliament approved a bill according to which the sale of shares of coal, oil, peat and gas, of a value greater than 300 million will be made as soon as possible. The Republic of Ireland will become the first country in the world to sell its investments in fossil fuel companies following the approval of a bill, supported by all parties in 19459004 . On the basis of $ 300 billion in investment funds, including large pension funds and insurance companies, places like New York, churches and universities were sold
Proponents of Divestiture claim that existing fossil resources are much larger before it can be burned without causing catastrophic climate change. The research and production of more fossil fuels is therefore morally incorrect and economically risky . Some critics, on the other hand, claim to remain shareholders and persuade companies to produce fossil fuels to change their policies could be more effective.
The Irish Bill on Fossil Fuel Sales was approved on Thursday from the Lower House of Parliament and should pass quickly through the upper house, which ultimately means that it can become the law by the end of this year . The Irish State Investment Fund holds more than 300 million investments in fossil fuels in 150 companies
Source: The Guardian
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