Vol. 492 No. 1
112 Mr. Gormley asked the Minister for Finance the measures, if any, being considered by his Department to encourage ethical investment, which is both socially responsible and commercially sound, particularly in relation to State funds and to pension funds; and if he will make a statement on the matter. [13681/98]
Investment is carried out by both public and private sectors. Public investment is aimed at meeting Ireland's economic and social needs in areas such as transport, sanitary services, education and health. Details of all public investment are set out in the 1998 Public Capital Programme. The question of ethical investment does not arise. I am satisfied that the basis under which State-funded investment is carried out does not warrant consideration of specific measures in this regard.
In regard to private sector investment, including that undertaken by pension funds, investment policy is a matter for the entities concerned. I have no measures under consideration to encourage ethical investment, as defined by the Deputy.
The Deputy will be aware that there is a wide range of incentives for investment, which could include ethical investment, under Irish tax law.
