Fossil Fuel Divestment Bill 2016: From the Seanad

The Dáil went into Committee to consider an amendment from the Seanad.
Seanad amendment No. 1:
Title: In page 3, to delete lines 5 to 9 and substitute the following:
"An Act to impose certain prohibitions and restrictions with respect to the investment by the National Treasury Management Agency of assets of the Ireland Strategic Investment Fund in fossil fuel undertakings and, in particular, to require that Agency to endeavour to ensure that such assets are not directly invested in such an undertaking (and, where it becomes aware that an undertaking in which such assets have been so invested by it is, or has become, a fossil fuel undertaking, to divest the assets of that fund from such investment); to make provision for a restriction on such investment when the investment is of an indirect nature (as defined hereafter); to provide for a certain exception to the prohibition on investment of assets of that fund in such an undertaking where the investment is consistent with the national transition objective (as defined hereafter), the implementation of the State’s climate change objectives and Government policy; for those purposes to amend the National Treasury Management Agency (Amendment) Act 2014; and to provide for related matters.".
Seanad amendment agreed to.
Seanad amendment reported.

A message will be sent to Seanad Éireann acquainting it accordingly.

Sitting suspended at 1.05 p.m. and resumed at 1.55 p.m.