Ireland currently has an €8 billon national investment fund with an estimated €300 million invested in fossil fuel shares. Under the bill, the government will be required to sell its investments in fossil fuels. How significant is this in terms of Ireland’s stocks and shares in non-renewable energy?
This decision relates to Ireland’s national investment fund which has specific objectives like making investments that have a positive economic impact. The new bill is the result of civil society and multi-party support for the idea that the investments in fossil fuels are in conflict with Ireland’s commitment to the 2015 Paris climate change agreement.… Seguir leyendo »
At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with climate commitments. But how does this square with the priorities of those countries that want to use their fossil fuels to drive economic growth and improve access to energy? And can it meaningfully affect CO2 emissions, when alternative sources of investment and assistance are still available for oil and gas development?
Between 2000 and 2015, around $4.8 billion of official development assistance went to upstream oil and gas development, and $22.2 billion to (often-linked) thermal power generation.… Seguir leyendo »
While receding from the headlines over the last two years, the human and political costs of the refugee crisis in Greece have only risen. This summer, thousands of people in Chios and Samos island encampments remain exposed to disease, violence, mental deterioration as well as searing heat. Athens is suffering from growing homelessness, abuse and trafficking problems as people’s asylum or relocation claims are rejected or they avoid registration in fear of deportation to Turkey. Charities working on the ground including Medecins sans Frontieres refer to conditions as ‘dire’ and ‘inhumane’.
Yet the humanitarian response in Greece beginning in 2015 is considered one of the most expensive in history.… Seguir leyendo »