Image: Alamy Stock Photo INVESTMENT FUNDS IN Ireland that declared themselves to be sustainable collectively hold more than $3 billion worth of investments in the fossil fuel and aviation industries, an investigation has found.
Under the EU’s Sustainable Finance Disclosure Regulation, funds must classify their sustainability level into one of several categories known as grey, light green, or dark green. In Ireland, data from the investigation shared with The Journal show that the value of investments in fossil fuels and aviation by ‘dark green’ funds was $3.205 billion, out of a total $137 billion.
118 funds hold 579 investments in fossil fuels, including 512 investments in oil and gas and 224 in coal that add up to $3.1 billion.Related Read 29.11.22 Over half of Irish Gen Zers want car-free zones in cities and the banning of domestic flights