NILGOSC has transferred £2.8 billion of its £10 billion fund to lower-carbon investments.

Green Party NI representative Rachel Woods has welcomed the progress on the issue, while also calling for greater divestment.

Rachel Woods said: "However, the current proposals could go much further. NILGOSC will now divest from companies which have a revenue of over 30% from thermal coal, but there no firm prohibition on any other type of fossil fuel company.

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"As some large coal mining companies are diversified companies – such as Glencore, one of the biggest coal miners in the world, which only gets about 5% of its revenue from thermal coal – they may not be covered by this divestment policy.

"In short, it's not enough. This is not a full divestment from the coal industry, or other corporations which are expanding the extraction of fossil fuels.

"It's time to end public investment in fossil fuels which are killing our planet. It's time to invest in renewables and create well-paid green jobs."