Ireland becomes world's first nation to divest from fossil fuels

Ireland's announcement comes as fossil fuel divestment gains traction globally.

In 2015, Norway came close to being the first government in the world to divest from fossil fuels: it divested part of its $1tn sovereign pension fund from some fossil fuel companies, but not all. The bill is expected to quickly pass in the upper house of parliament and could become law this year.

Ireland made history on Thursday 12 July by becoming the first country in the world to agree to sell all investments in coal, oil, gas, and peat "as soon as practicable".

The Fossil Fuel Divestment bill, passed by the lower chamber of the national parliament in Dublin with majority support from the political left, right, and center as well as non-partisan independents, will legally prohibit the government's national investment fund to sell of stakes in both coal, natural gas, and petroleum oil over the next five years between.

It was initially introduced by independent MP Thomas Pringle, followed by a long-running campaign led by Irish worldwide development charity Trócaire.

World’s longest fingernails finally cut after 66 years
Image sourceHowever, putting his record to sleep, Chillal finally cut his nails in a nail clipping ceremony yesterday. The nails prevented him from sleeping properly - he had to wake up regularly to check they weren't being crushed.

"Ireland has gained a reputation internationally in recent years as a "climate laggard".so the passing of this Bill is good news but has to mark a significant change of pace on the issue", Trócaire's executive director, Éamonn Meehan, said in a statement Thursday.

The bill defines a fossil fuel company as a company that derives 20% or more of its revenue from exploration, extraction or refinement of fossil fuels.

The Fossil Fuel Divestment Bill, which has been brought forward by Independent Deputy Thomas Pringle, is meant to help meet Ireland's climate change commitments, which were agreed to in the Paris Agreement. 350.org co-founder Bill McKibben tweeted, "Ireland's decision to divest from fossil fuels staggers me".

The bill also said indirect investments should not be made, unless there is unlikely to be more than 15 per cent of an asset invested in a fossil fuel undertaking.

Related News:

  • Liverpool star Lovren lays the ghosts of Tottenham horror show to rest

    Liverpool star Lovren lays the ghosts of Tottenham horror show to rest

    We will never forget this. "I have the opportunity to help him and next time, maybe I will say it". Lovren bounced back later in the season, helping Liverpool reach the Champions League final.
    PM Modi, Rahul Gandhi lose thousands of followers — Twitter's safety crackdown

    PM Modi, Rahul Gandhi lose thousands of followers — Twitter's safety crackdown

    Twitter locks accounts when they display a sudden change of behaviour, like sending lots of unsolicited replies. Prime Minister Modi, according to socialblade.com, lost 2, 84,746 followers and now has 43.1 million followers.
    Significant reason Kate Middleton has always worn white at christenings

    Significant reason Kate Middleton has always worn white at christenings

    Robert Carter (or Hannah Gillingham, Middleton's college friend) and Lucy Middleton (the duchess' cousin). On Monday, Prince Louis was christened at the Chapel Royal in St James's Palace surrounded by his family.
  • HTC to launch its first blockchain smartphone - Exodus

    This is the company's blockchain-focused device, making HTC the first major brand to roll out a phone based around blockchain. Make no mistake; the Exodus phone with its blockchain capabilities is not the product that will drag HTC out of its slump.

    Twitter's Purge on Dormant Accounts Swings On "Big Wigs"

    Controversial blogger, Cyprian Nyakundi , has lost quite a lot of followers, from over 1 million to now below 700K. Katy Perry , Justin Bieber and Barack Obama each lost more than two million followers overnight.

    SpaceX will launch the Israeli station on the moon

    The rocket will deliver the apparatus to a height of 60 thousand km, and it will be released on elliptical path around the Earth. The collected data will be transmitted to IAI control room for the next two days after the landing.
  • Defence spending only 1.36% of Portugal GDP

    Defence spending only 1.36% of Portugal GDP

    It will mark the first ever bilateral visit by a Canadian prime minister to Latvia and comes as the country celebrates its centenary.
    President claims victory in battle over North Atlantic Treaty Organisation  cash

    President claims victory in battle over North Atlantic Treaty Organisation cash

    After the morning's drama, reporters were left to sort out just how far Trump was willing to push in his negotiations with allies. President Donald Trump into hiking military spending, saying that his country would make its own "sovereign" decisions.
    Maurizio Sarri lined up to replace sacked Antonio Conte

    Maurizio Sarri lined up to replace sacked Antonio Conte

    Gianfranco Zola could also return to Chelsea as part of the backroom or technical staff. Jorginho is a big coup for Chelsea .
  • Liverpool have announced the signing of Xherdan Shaqiri from Stoke City

    Matt Le Tissier isn't fully convinced by Stoke City's Xherdan Shaqiri , as he reportedly edges closer to joining Liverpool . He was easily their best player and also put in impressive displays as Switzerland reached the round of 16 in the World Cup.
    Trump Calls US Relationship With UK The ‘Highest Level Of Special’

    Trump Calls US Relationship With UK The ‘Highest Level Of Special’

    A full apology, strictly speaking, would be Trump apologizing for saying the things he said to the Sun reporters. "Prime Minister as I just said she's going to make a decision as to what she's going to do", he said.
    Nawaz Sharif, Maryam arrested, shifted to Adiala jail

    Nawaz Sharif, Maryam arrested, shifted to Adiala jail

    Nawaz Sharif and Maryam Nawaz arrived in London prior to Eid-ul-Fitr and are now there due to Kulsoom Nawaz's prolonged illness. Police have virtually put Lahore on lockdown as scores of Sharif's supporters clashed with police in the evening.


Most liked

Groenewegen prevails in longest Tour stage
That challenge will be followed by a rest day on Monday before the race shifts to its first mountain stages in the Alps. Martin later crossed the line as part of a group 75 seconds down.

All-Star Game Rosters Announced
Louis Cardinals, Jon Lester of the Chicago Cubs, Patrick Corbin of the Arizona Diamondbacks and the aforementioned Foltynewicz. Joining Altuve are third baseman Alex Bregman, outfielder George Springer, and pitchers Gerrit Cole and Justin Verlander.

Tropical Storm Chris tracking towards Atlantic Canada
Tropical Storm Chris continues to meander about off the Carolina Coast with no real forcing at the moment to get it moving. The somewhat good news is we don't see a large shift in dew points from the low 70s over the next several days.

Trump forces North Atlantic Treaty Organisation allies to boost defence spending
In light of today's indictments, there should be no one-on-one meeting between President Trump and Vladimir Putin on Monday. Ahead of the trip, Trump predicted his meeting with Putin would be his "easiest" stop on his European tour.

Tom DeLay: I Approve of Trump Blowing Off CNN
Acosta responded by saying CNN is a real network too. "It's called fake news and we solve a lot of problems with the good old recording instrument".

William, Kate’s third child Prince Louis christened
Insiders say that Harry plans on building a book collection for Louis in honor of the memory of his mom, Princess Diana. To believe the words of the informant, "all the members of the royal family were in agreement with this arrangement." .

Klopp plays down Karius mistake
Liverpool take on Bury in their next pre-season game on Saturday and Keita will be hoping to continue the eye-catching performance.

Trump visit: London on LOCKDOWN as trip to spark protests
While the many thousands are expected to line the streets and protest against Trump, politicians have become involved too. Embassy in Brussels, the president also lashed out at the Muslim mayor of London , saying he had done "a awful job".

China vows retaliation for latest $200bn United States tariff threat
The Trump administration's latest shot in the trade war with China has sent shudders through global financial markets . On top of this, these tariffs are eliminating numerous economic gains created by last year's tax reform.

Trump claims a phantom victory in North Atlantic Treaty Organisation spending war
On Thursday, Trump told reporters at a press conference in Brussels that to him, Putin, was a "competitor" rather than an enemy. He said it could lead to "something very productive - and maybe it's not". "I think it is a terrible thing Germany is doing ".

Emmy Award nominations: 'Handmaid's Tale' earns 20 nods
The 2018 Golden Globe Awards will kick off on Sunday, Sept. 17, at the Microsoft Theater in downtown Los Angeles . In the comedy categories, hip-hop themed FX show " Atlanta " is up against Amazon's " The Marvelous Mrs.

London Protester Dresses as Trump in Gorilla Suit Behind Bars
The president added: "I think allowing millions and millions of people to come into Europe is very, very sad". Another commented: "I am appalled that there wasn't a bow from D Trump or a curtsy from Melania".

Trump administration yanks health care away from more Americans
In January a federal court in MA ruled the formula wasn't arbitrary and capricious. The Maryland Insurance Administration has a hearing scheduled for July 31.

Woman Unknowingly Drives 'Stolen' Car for 2 Weeks
Keyless cars can be operated as long as the key fob is located inside the auto , which was the case in this circumstance. Not realizing it was a Nissan Infiniti instead of the Sentra, she drove off in the wrong vehicle .

Last Alaska Blockbusters set to close, leaving 1 store in US
This leaves just one lonely Blockbuster Video in OR , which might as well be turned into a museum at this point. At one time in the recent past there were four independently owned and operated Blockbuster franchises.