AWARD YEAR
2017
CATEGORY
Community
GOALS
Climate Action
KEYWORDS
legislation , Bureaucracy, climate change
COUNTRY
Ireland
DESIGNED BY
The country of Ireland
WEBSITE
http://inhabitat.com/ireland-votes-to-be-worlds-first-country-to-fully-divest-from-fossil-fuels/
Ireland says no to fossil fuels
Bill seeks to drop coal, oil and gas investments from Ireland Strategic Investment Fund
The Irish Parliament passed the historic legislation in a 90 to 53 vote in favour of dropping coal, oil and gas investments from the €8bn (£6.8bn) Ireland Strategic Investment Fund, part of the Republic’s National Treasury Management Agency.
The bill, introduced by Deputy Thomas Pringle, is likely to pass into law in the next few months after it is reviewed by the financial committee.
Once enacted, the bill would force the Ireland Strategic Investment Fund to sell its investment in fossil fuel industries over the next five years.
Ireland has voted to be the world’s first country to fully divest public money from fossil fuels.