Dáil Éireann Debate, Wednesday - 11 November 2020
68. Deputy Denis Naughten asked the Minister for Finance further to Parliamentary Question No. 106 of 23 July 2020, the status of the steps taken to date to divest from fossil fuel investments; and if he will make a statement on the matter. [35537/20]
View answerThe Fossil Fuel Divestment Act 2018 provides for the divestment by the Ireland Strategic Investment Fund (ISIF) from fossil fuel undertakings (effectively, companies that derive more than 20% of their revenues from the exploration, extraction and/or refinement of fossil fuels) within a practicable timeframe.
To this end, the ISIF has developed a list of 224 fossil fuel companies in which it will not invest.
The most recent Fossil Fuel Exclusion list is published on the ISIF's website at https://isif.ie/how-we-invest/responsible-investment/overview. Compliance with the Fossil Fuel Divestment Act is actively monitored and reviewed by the ISIF every 6-months with a view to ensuring that the Fossil Fuel Exclusion list is updated regularly and that any necessary divestment is actioned.
