Ireland voted to stop investing government funds in fossil fuels

This will make Ireland the first nation to completely eliminate public funding for fossil fuels, thanks to a new bill recently passed by the Irish Parliament.


The vote in favor of a new law to become world’s first country to fully divest from fossil fuels by dropping coal, oil and gas investments from the €8 billion (US$8.6 billion) Ireland Strategic Investment Fund.

The plan still needs to be reviewed before it becomes law, but if approved, it would be the strongest action any government has taken on against the funding of fossil fuels.

The bill would force the Ireland strategic investment fund to sell its investment in fossil fuel industries over 5 years.

No other country has slashed its fossil fuel investments completely. Norway sold off coal investments from its sovereign wealth fund in 2015.

China plans to shut down or cancel the building of 104 coal-fired power stations.

Here’s one for the books.



Leave a Reply

Your email address will not be published. Required fields are marked *

What to Read Next:

Community Solar: Lots of Buzz, but Where’s the Action?

What is Community Solar? Recent years have seen an increase in community solar and shared renewable policies. So far, 14...

This Week’s Trending Solar News—June 22nd, 2017

BBC NEWS Donald Trump talks up solar panel plan for Mexico wall Trump has told supporters that his proposed wall...

China now leads the world in solar power production

The BBC profiles a number of graduates and entrepreneurs who have headed to China from the US to seek careers...

Details released as Alberta’s solar rebate program becomes active

The province made the announcement mid-Wednesday June 21st 2017 as the Energy Efficiency Alberta $36-million Residential and Commercial Solar Program...

Feud over the future of America’s power grid

A recently published article by the Washington Post explains how scientists are engaged in an increasingly bitter and personal feud...