Irish SWF set to become first to divest from all fossil fuels

Eggborough Power Station by Foto43 flikr

Ireland’s sovereign wealth fund looks set to become the first in the world to divest from all investments related to fossil fuels, after a bill passed the lower house of the Irish legislature on July 11.

The Ireland Strategic Investment Fund will be expected to “endeavour to ensure” its assets “are not invested in a fossil fuel investment in fossil fuel companies”, the draft text of the bill reads. The fund will have five years from the time the bill becomes law to divest. The bill is yet to be

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