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Trócaire advocated for Irish legislation to stop public money being invested in the global fossil fuel industry
Thousands of people joined the Stop Climate Chaos organised march and protest on climate change in Dublin in 2015. Photo: Mark Stedman
Climate change is driven largely by the burning of fossil fuels in richer countries. The poorest countries in the world are hit hardest by climate change, even though they have contributed least to the problem.
In 2012, a global movement 350.org started to raise awareness of the need for political action on climate change, an end to the age of fossil fuels and for a world of community-led, clean, renewable energy for all.
The movement stated that 80% of known fossil fuel reserves would need to stay in the ground in order to prevent the worse effects of climate change. It added that to ensure that the fossil fuels remain in the ground, investment had to stop in the companies taking them out.
This sparked global ‘divestment’ campaigns with support from well-known people including former president of Ireland Mary Robinson, Archbishop Desmond Tutu, Ban Ki-moon, Barack Obama, Al Gore and actor Leonardo Di Caprio.
Trócaire joined with other civil society groups in 2016 to work for Irish legislation to stop public money being invested in the global fossil fuel industry. Trócaire launched its ‘The Burning Question’ campaign as part of the global movement of organisations and individuals demanding an end to the fossil fuel era and a faster move to a cleaner, more sustainable future.
Celebrations outside Leinster House as the Dáil says Yes to Divest from Fossil Fuels on Thursday July 12th 2018. Photo: Mark Stedman
This culminated with the passing with all-party support of the historic Fossil Fuel Divestment Bill in July 2018, making Ireland the first country in the world to commit to withdrawing public money invested in fossil fuels.
The Bill compelled the Ireland Strategic Investment Fund (ISIF) to sell off its investments in the global fossil fuel industry, which as of June 2017, stood at €318 million, across 150 companies worldwide. This sent a clear signal nationally and globally that action on the climate crisis needed to be accelerated urgently, starting with the phase out of fossil fuels. The bill defined a fossil fuel company as a company that derives 20% or more of its revenue from exploration, extraction or refinement of fossil fuels.
Thomas Pringle, an Independent TD, introduced the bill. “Ireland by divesting is sending a clear message that the Irish public and the international community are ready to think and act beyond narrow short term vested interests,” he said on its passing.
Trocaire also worked closely with Global Legal Action Network, who drafted the bill.
Trócaire is celebrating 50 years of working together with partners, people who we support, staff, donors and supporters to create positive and lasting change. One Day showcases the profound impact of these collective efforts, highlighting the countless “One Days” where lives have been transformed. Together, for a just world. Explore more One Day stories here. |
