This is completely practical! The world is suffering from climate change and its affects, and for a relatively small nation like this to divest from fossil fuels shows the entire world that eventually we can all wean ourselves off of fossil fuels. The quicker that humanity can deal with the many issues and controversies about fossil fuels and climate change means the quicker that we can deal with our problem. The world is heating up and Ireland has taken a key step to dealing with that issue.
It's very practical. They can use geothermal energy from the surrounding hot spots, set up wind farms, (maybe solar farms, I hear it gets very cloudy there). The world will eventually have to switch to an all renewable power plan, and the sooner we start the fewer animals will have to go extinct.
Way to go Ireland! I knew you guys were awesome.
When other countries see how it works in Ireland (and hopefully it will) it could in fact make the world a better place. Because if they can do it, why can't we?
And then we can start making the world a better place.
Ireland is a small country anyway, so they're on the safe side compared to if England did it.
Many people think that it is impossible to fully divest from fossil fuels.However, it is possible and has been done.Cuba has been using renewable energy for many decades due to US sanctions. Ireland is a small country with a small demand of energy.It's demand for fossil fuels is not very high.
In spite of being a Catholic country, the Irish have a truly progressive population, and I am very glad to know that. It will take work and significant investment but i think Ireland can ditch fossil fuels for good. Change is always difficult but in this case it is for the greater good. Other countries need to start following Ireland's footsteps.
It is a tall order for big nations with a large population to fully walk out of fossil fuel dependency, thiS is because of the high demand of from the large population. For Ireland, it was possible because it has a relatively small population compared to countries like India, China or the U.S.A.
Way too many people don't pause to ask why divestment would matter. The more institutional investors divest from fossil fuels, the more expensive it will be to get financing for new fossil fuel projects. Finance is also susceptible to the bandwagon effect. If investors see everyone else divesting, they think something is up so they're more prone to follow suit. Oil companies don't pay out of their own pockets to develop new oil fields. They finance, and every divestiture makes that pool of capital a little smaller and more expensive.