The landmark legislation is a symbolic move from a relatively small country that could pave the way for others to join in preserving the planet's natural resources.
The environmentally conscious are bemoaning the renewed controversy around the Dakota Access Pipeline, but there may be a silver lining overseas. In a decisive victory for the Earth, Ireland has become the world’s first country to completely divest from fossil fuels. In a 90 to 53 vote, the Irish Parliament passed legislation that will drop coal, oil, and gas investments from its $8.56 billion Ireland Strategic Investment Fund.
The bill was introduced by Deputy Thomas Pringle, and while it’s not officially law yet (it still awaits review by Ireland’s financial committee), chances of its ultimate passage are high. If it does pass, the law will require the Ireland Strategic Investment Fund to sell its investment in fossil fuel industries over the course of the next five years.
“This principle of ethical financing is a symbol to these global corporations that their continual manipulation of climate science, denial of the existence of climate change and their controversial lobbying practices of politicians around the world is no longer tolerated,” Pringle said. “We cannot accept their actions while millions of poor people in underdeveloped nations bear the brunt of climate change forces as they experience famine, mass emigration and civil unrest as a result.”