Thursday, 4 July 2019

Questions (104)

Pearse Doherty

Question:

104. Deputy Pearse Doherty asked the Minister for Finance if State owned banks are investing in or lending to companies directly involved in fossil fuel extraction; if so, the extent of such commercial activities; and if he will make a statement on the matter. [28862/19]

View answer

Written answers (Question to Finance)

I wish to inform the Deputy that this information is not in the possession of my Department. Furthermore decisions in regards to commercial activities are the sole responsibility of the boards and management of the individual banks which must be run on an independent and commercial basis. The independence of these banks is protected by Relationship Frameworks which are legally binding documents that cannot be changed unilaterally. These frameworks are publicly available and were insisted upon by the European Commission to protect competition in the Irish market.

However the Deputy may find the annual AIB Sustainability Report useful (it can be found at https://aib.ie/content/dam/aib/personal/docs/sustainability/sustainability-summary-report-2018.pdf ). The PTSB annual report also contains information which may of interest (it can be found at https://www.permanenttsbgroup.ie/~/media/Files/I/Irish-Life-And-Permanent/Attachments/pdf/2019/2018-full-year-report-for-ptsbgh-27022019.pdf ).