IRELAND FIRST TO DIVEST FROM FOSSIL FUELS
On July 12, Ireland's lower house of parliament passed a Fossil Fuel Divestment Bill that, if passed by the upper house, would make the Republic of Ireland the first country to sell off its investments in fossil fuel companies. 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, and it allows investment in Irish fossil fuel companies if the investment funds move away from fossil fuels. If the bill becomes law, Ireland's 8.9 billion euro ($10.4 billion) Ireland Strategic Investment Fund will be required to sell all investments in coal, oil, gas, and peat "as soon as practicable," which is expected to mean within five years. For the full story, see https://www.theguardian.com/environment/2018/jul/12/ireland-becomes-wor… and https://uk.reuters.com/article/us-ireland-fossilfuels-divestment/irelan….