Ireland stops fossil fuel investments

A bill supported by all political parties has been passed in the Republic of Ireland’s lower houses of parliament which compels the country’s national investment fund to sell all of its €312 million investments in global fossil fuel companies as soon as possible. This far-reaching commitment is part of a divestment movement that is pushing governments, religious institutions, universities and other organizations to divest their money from coal, oil and gas companies. Norway, the Church of England and 40 Catholic Church institutions have said they will be turning their backs on fossil fuel investment. The movement has also spread to pension funds, universities, NGOs and medical associations. Ireland’s divestment is another clear signal that action on the climate crisis is accelerating.