parliament on Thursday and it is expected to pass rapidly through the upper house, meaning it could become law before the end of the year. In many parts of the world, glaciers have been in retreat, creating dangerously large lakes that can cause devastating flooding when the banks break. It enables Ireland to divest its sovereign wealth fund, Ireland Strategic Investment Fund (isif worth.5 billion, from coal, gas and oil and would see a ban on any further fossil fuels investment going forward. The divestment movement is highlighting the need to stop investing in the expansion of a global industry which must be brought into managed decline if catastrophic climate change is to be averted, said Thomas Pringle, the independent member of parliament who introduced the bill. Environment, ireland is close to becoming the first country in the world to completely divest from fossil fuels, thanks to a new bill recently passed by the Irish Parliament. Independent MP Thomas Pringle, who introduced the bill, said the bill would send a message to climate change deniers and lobbyists. It has responded to the publics call for leadership on this issue and sent a powerful signal to the international community about the need to speed up the phase-out of fossil fuels if global climate goals are to be delivered. It must now pass through the Seanad. The Republic of, ireland will become the worlds 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. Gerry Liston at Global Legal Action Network, who drafted the bill, said: Governments will not meet their obligations under the Paris agreement on climate change if they continue to financially sustain the fossil fuel industry.
The divestment movement encouraged an institutions removal of stock from companies doing business in South Africa.
The coalition claimed that they had discovered that the UM administration was not adhering to its 1977 policy of total divestiture.
Ireland has voted to be the worlds first country to fully divest public money from fossil fuels.
Following cross party support for the bill in the Dáil, the Ceann Comhairle Sean O'Fearghal commended Mr Pringle for his work. Picture clearly indicates that the extreme drought makes wide cracks in clay. Sandra Rondon 6/10, a river once flowed along the depression in the dry earth of this part of Bangladesh, but it has disappeared amid rising temperatures. The Irish state investment fund holds more than 300m in fossil fuel investments in 150 companies. Ireland by divesting is sending a clear message that the Irish public and the international community are ready to think and act beyond narrow short term vested interests. The Fossil Fuel Divestment Bill passed in the Dáil this afternoon.