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Ireland becomes world's first country to divest from fossil fuels
Posted: 26 July 2018

"The Republic of Ireland will become the world’s first country to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament.

The state’s €8bn national investment fund will be required to sell all investments in coal, oil, gas and peat “as soon as is practicable”, which is expected to mean within five years. Norway’s huge $1tn sovereign wealth fund has only partially divested from fossil fuels, targeting some coal companies, and is still considering its oil and gas holdings.

The fossil fuel divestment movement has grown rapidly and trillions of dollars of investment funds have been divested, including large pension funds and insurers, cities such as New York, churches and universities."

Ireland becomes world's first country to divest from fossil fuels
26 July 2018
Bill passed by parliament means more than €300m shares in coal, oil, peat and gas will be sold ‘as soon as practicable’
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Posted: 26 July 2018 at 15:09
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