Construction News

16/07/2018

Ireland Commits To Divesting From Fossil Fuels With New Bill

The Fossil Fuel Divestment Bill 2016 has been passed in the Dáil.

The legislation amends the investment mandate of the Ireland Strategic Investment Fund (ISIF) to both prevent it investing in, and requires it to divest from, fossil fuel undertakings.

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Welcoming the Bill's passing, Minister of State at the Department of Finance, Michael D'Arcy, said: "Ireland is taking the opportunity to show real global leadership in a move away from fossil-fuel investment dependency.

"The real effects of the Bill will be felt if other countries follow Ireland's lead in sufficient numbers – this will help drive demand for low-fossil-fuel investments at a global level and potentially stimulate investment in renewable and sustainable alternatives."

(LM)

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