Ireland is close to becoming the first country in the world to completely divest from fossil fuels, thanks to a new bill recently passed by the Irish Parliament.

If set into law after review, the vote – which passed with 90 to 53 votes last Thursday – would halt public funding of fossil fuels like coal, oil, and gas from the €8 billion (US$8.6 billion) Ireland Strategic Investment Fund.

"This principle of ethical financing is a symbol to these global corporations that their continual manipulation of climate science, denial of the existence of climate change, and their controversial lobbying practices of politicians around the world is no longer tolerated," Deputy Thomas Pringle, who introduced the bill, told the media.