Irish Parliament Passes Historic Fossil Fuel Divestment Bill

Irish Parliament Passes Historic Fossil Fuel Divestment Bill

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Eamon Ryan-Youtube

Last Thursday, Irish Parliament passed a historic bill that would lead Ireland to becoming the first country in the world to divest its sovereign wealth from coal, oil, and gas.

The Fossil Fuel Divestment Bill will divest over $8.5 billion from the Ireland Strategic Investment Fund. The legislation passed in a 90 to 53 majority vote will be reviewed by the financial committee before becoming law.

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The bill, introduced by independent representative Deputy Thomas Pringle, can attribute its success to Trócaire, a Catholic development charity that rallied for the political campaign.

“With a climate-sceptic recently inaugurated into the White House, this move by elected representatives in Ireland will send out a powerful message,” said Éamonn Meehan of Trócaire. “The Irish political system is now finally acknowledging what the overwhelming majority of people already know: That to have a fighting chance to combat catastrophic climate change we must phase out fossil fuels and stop the growth of the industry that is driving this crisis.”

(WATCH the video below)

 

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