Ireland is the first country to divest from fossil fuels

Since 2012 the number of commitments on fossil fuel divestment has increased rapidly, reaching over 1000 institutions worth 7 trillion euro.

In December Ireland became the first country in the world to divest from fossil fuels.

With the entrance into force of the Fossil Fuel Divestment Bill, the country’s sovereign fund (the Ireland Strategic Investment Fund)  is committed to divesting its holdings of fossil fuel companies within five years and not to make future investments in the industry, “to precipitate a timely decarbonisation process in line with Ireland’s climate change commitments under Article 2 of the Paris Agreement”. The bill has been signed into law by the President of Ireland Michael Daniel Higgins on December 17.

According to Reuters, the Ireland Strategic Investment Fund (ISIF) is worth 8.9 billion euro, with an estimated 318 million euro invested in about 150 fossil fuel companies.

The decision of the Irish government is the first bringing the commitment not to invest in fossil fuels companies into a state-level law. It adds to the partial divestment legislation initiative of Norway, which in 2015 agreed to pull its national pension fund out of coal.

Started in US university campuses in 2011, the divestment movement gained momentum thanks to the involvement of institutional investors, cities, companies and prominent stakeholders.

The funds committed to fossil fuel divestment currently total more than 7 trillion euro. Over 1000 institutional investors have made the pledge, according to a report released by the advocacy organizations involved in the global divestment campaign.

The report details that since 2012 the number of institutions committing to fossil fuel divestment has increased rapidly, including faith-based and philanthropic organizations, educational institutions, pension funds and for-profit corporations, governments, and NGOs.

The milestone of the 1000th institution to divest was reached a few days before the start of COP24, with France’s Caisse des dépôts et consignations (CDC) announcing that from 2019 it will no longer invest in companies that make more than 10% of their business from coal.

Read more:

Text and proceedings of Ireland’s Fossil Fuel Divestment Bill
Report: 1000 Divestment commitments and counting
List of divestment commitments curated by’s Fossil Free project 



Ice’s perpetual change through the lens of photography, semiotics and science

The climate and environmental history of our planet are archived in ice. Glaciers are an invaluable resource for understanding how our climatic system operated in the past and how it operates now; witnesses of the changes that our planet is undergoing. Carlo Barbante, Director of the CNR Institute of Polar Science, Fabiano Ventura, photographer and president of the non-profit organisation Macromicro, and Valeria Burgio, postdoctoral researcher at Ca’ Foscari University in Venice, engage in dialogue on the role of glaciers as archives and sentinels of climate change.


Top 10 innovations that will help the world to cut CO2 emissions

The Innovation for Cool Earth Forum (ICEF) has selected their “Top 10 Innovations” in energy and climate change mitigation, highlighting the most notable recent measures …


The future of the cost of climate change

An article by James Rising* Grantham Research Institute on Climate Change and the Environment, London School of Economics *The article has been published on the new …