Category: Policy

Ireland withdraws public money from fossil fuel investments

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by Charlie Taylor January 4, 2019 read full article here

Ireland Strategic Investment Fund divests from 38 companies, raising €68m

The Department of Finance confirmed on Friday that the Ireland Strategic Investment Fund (ISIF), a State body controlled and managed by the National Treasury Management Agency, has divested from 38 fossil fuel companies.

The divestment, which was worth a combined €68 million, saw the fund selling off its shares in companies involved in oil, gas and other fossil fuels.

ISIF, which published a list of 148 fossil fuel companies in which it said it will not invest, is expected to continue to divest in such companies while also increasing investment in clean energy projects. Its portfolio already includes a range of wind farms, solar power and other renewable energy projects.

The €7.9 billion fund, which was designed to support economic activity and employment in Ireland, replaced the National Pensions Reserve Fund in 2010.

“The passing of this legislation marks Ireland out as one of the first countries in the world to withdraw public money from investment in fossil fuels,” said the Minister for Finance Paschal Donohoe. “It positions the ISIF as one of a handful of sovereign wealth funds globally to implement a fossil fuel divestment strategy’.

How we can combat climate change

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Wash Post Editorial Staff January 2 2019 read full Washington Post article here

The world has until 2030 to drastically cut our emissions. Where do we begin?

Last year’s report from the Intergovernmental Panel on Climate Change sounded the alarm: The world has until 2030 to implement “rapid and far-reaching” changes to our energy, infrastructure and industrial systems to avoid 2 degrees Celsius of warming, which could be catastrophic. But the scale of the challenge can appear so overwhelming that it’s hard to know where to start. The Post asked activists, politicians and researchers for climate policy ideas that offer hope. Radical change from one state, or even the whole United States, won’t address climate change on its own, but taking these actions could help start the planet down a path toward a better future.

11 policy ideas to protect the planet

Read more here….