Dáil Éireann Debate, Tuesday - 24 January 2023
133. Deputy Mairéad Farrell asked the Minister for Finance if it is possible to set credit allocation quotas for Irish banks (with a majority State ownership) requiring a certain percentage of their lending to go to green investment activities; and if he will make a statement on the matter. [3136/23]
View answerI wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including a bank's policy on green lending, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. This independence is protected by a Relationship Framework which is a legally binding document that cannot be changed unilaterally. This framework, which is publicly available, was insisted upon by the European Commission to protect competition in the Irish market.
