Fossil Fuel Divestment Bill 2016

Public bill · Private Member · Introduced

The proposal would require the Ireland Strategic Investment Fund, run by the National Treasury Management Agency, to stop investing in fossil fuel companies and to sell off any existing fossil fuel holdings within five years. It also creates an offence around holding new fossil fuel investments, while allowing the Agency to update its approach as the law or its mandate changes. The aim is to push Ireland toward faster decarbonisation and align public investment with the climate commitments Ireland signed up to in the Paris Agreement.

Formal long title

Bill entitled an Act to amend the National Treasury Management Agency (Amendment) Act 2014 instructing the Agency to divest the Ireland Strategic Investment Fund, currently under the remit of the Agency, of its assets in fossil fuel companies within five years of the commencement of this Act to precipitate a timely decarbonisation process in line with Ireland's climate change commitments under Article 2 of the Paris Agreement.

Last updated 1 April 2019