Ireland may soon become the first country to no longer finance fossil fuels

Thanks to a new bill recently passed by the Irish Parliament, Ireland could soon become the first country in the world to completely abandon fossil fuels. The bill introduced by Donegal MP Thomas Pringle is expected to come into effect soon after its consideration by the Finance Committee.

According to Thomas Pringle, “This principle of ethical finance indicates that these global companies and their continued manipulation of climate science, their denial of the existence of climate change, and their controversial lobbying practices around the world are no longer tolerated. We can not accept their actions while millions of poor people in the underdeveloped countries are undergoing climate change, forced to suffer hunger, mass emigration and the civil unrest it causes. “

If this bill is passed, the Irish Investment Fund will immediately abandon all investments in fossil fuel companies over the next five years.

As a result, companies like Exxon would no longer receive public funds and many countries around the world would take Ireland as a model. It is even possible that funds previously earmarked for fossil fuels could be donated to the Irish Sustainable Energy Authority (SEAI). But the Irish Parliament does not intend to stop its efforts here and is currently studying its relationship with hydraulic fracturing, the now controversial technique that allows the Irish to extract natural gas from deep geological formations.

The Irish political system today seems to “recognize what most people already know: that to have a chance to fight against climate change and the disasters that have occurred, we need to eliminate fossil fuels and stop growth. of the industry that is driving this crisis, “this time highlights the Belfast TelegraphÉamonn Meehan, executive director of the NGO Trocaire.

This information has been celebrated by environmental groups in Ireland and around the world.

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