Irish parliament passes bill to force sovereign fund to divest from fossil fuels

The Fossil Fuel Divestment Bill requires the 8.9 billion euro ($10.4 billion) fund to divest assets from investments in fossil fuel undertakings within five years and prohibits future investments in the industry
Irish parliament passes bill to force sovereign fund to divest from fossil fuels LONDON: The Irish parliament passed a bill on Thursday to force the Ireland Strategic Investment Fund (ISIF) to divest from fossil fuel companies, in a move intended to encourage other countries to withdraw public money invested in oil, gas and coal.

The Fossil Fuel Divestment Bill requires the 8.9 billion euro ($10.4 billion) fund to divest assets from investments in fossil fuel undertakings within five years and prohibits future investments in the industry.