Ireland Strategic Investment Fund

Dáil Éireann Debate, Thursday - 4 March 2021

Thursday, 4 March 2021

Questions (35)

Catherine Connolly

Question:

35. Deputy Catherine Connolly asked the Minister for Finance the investigation or analysis that has been carried out by his Department to ascertain whether any part of the Ireland Strategic Investment Fund is being invested in companies linked to grave human rights abuses against the Uighur population of Xinjiang, China; his plans to ensure that in future no monies of the Ireland Strategic Investment Fund will be invested in these companies; and if he will make a statement on the matter. [12212/21]

Written answers

Minister for Finance

The NTMA has informed me that, as part of its ongoing monitoring, ISIF uses the services of EOS at Federated Hermes who are a stewardship service provider to engage on its behalf directly with portfolio companies on a wide range of Environmental, Social and Governance (ESG) matters, including human rights issues. ISIF, through EOS, is also connected to the Investor Alliance on Human Rights (IAHR) which is a collective action platform for responsible investment. Both directly and through the IAHR, EOS is currently engaging with a range of companies which operate in or have commercial links to the Xingjiang province and requesting that they provide details on due diligence carried out by those companies. This will assist in determining whether there is an adverse impact related to forced labour in or from the Xinjiang Uyghur Autonomous Region in their value chains and any related actions.

ISIF have indicated to me that it will continue to monitor this matter closely.