Ireland to Separate from Fossil Fuels in the Next Five Years

Ireland is set to become the world's first country to fully separate from fossil fuels. The historic legislation will result in dropping of investments in coal, oil and gas from the Ireland Strategic Investment Fund. The country aims to do this over the next five years.

The government's inaction on climate change, one of the biggest challenges facing the world today, is said to have fallen short. In 2015, Ireland sourced only 6.5 percent of its heating needs from renewable sources, barely halfway from the agreed European target of 12 percent. Failing to meet these targets will result in huge fines from the European Union. Hence, the historic legislation was put to place.

The government also believes Ireland has real potential in becoming a world leader in biofuel production. Irish farmers can excel and prosper once a strong domestic market for biofuels is developed.