Another sign of fossil fuels’ demise: The Republic of Ireland is taking steps to become the world’s first country to forsake them.
The nation’s lower legislative body, the Dáil Éireann (the House of Representatives) passed a measure mandating that the Ireland Strategic Investment Fund, which invests government funds in economic development, rid itself of investments in fossil fuel companies within five years of the bill’s passage.
The proposal now moves to the Seanad Éireann, the Irish Senate, where it’s expected to pass easily.
The bill has been backed by both the ruling Irish government and the Catholic Church.
Mutual funds, universities, and cities are shedding fossil fuel investments. Ireland is the first nation to do so. Although it’s a small country, backers hope that Ireland’s example will prod other countries to do the same.