Why Ireland’s move to divest from fossil fuels is a big deal?

Jul 16, 2018, 8:52 AM EDT
(Source: Trocaire/flickr)
(Source: Trocaire/flickr)

Last week, Ireland pulled off something unprecedented as its lower house of parliament passed a bill to divest from fossil fuels. Compared to the economic size of the global fossil fuel industry, the Irish divestment, worth $350 million, is just peanuts but the underlying value of the move is significant.

The decision fructifies a long-running movement to squeeze the flow of public money into an industry that should be phased out if we are serious about averting climate change, notes Earther.

By divesting, Ireland is sending a clear message to the global community that short-term vested interests shouldn’t take precedence over a greener and safer planet free from the clutches of poison-spewing corporations, reports The Guardian.