Christopher O'Sullivan
Question:111. Deputy Christopher O'Sullivan asked the Minister for Finance the work being undertaken by ISIF to support the State's climate action targets; and if he will make a statement on the matter. [22745/24]
View answerTuesday, 21 May 2024
Questions (111)
Written answers
The National Treasury Management Agency (NTMA) have informed me that the Ireland Strategic Investment Fund (ISIF) has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland.
In line with this mandate, ISIF focusses its efforts on making transformational investments across its impact themes of Housing and Enabling Investments, Climate, Scaling Indigenous Businesses, and Food and Agriculture.
In respect of Climate investments, ISIF seeks to make investments that are consistent with and enable delivery of the State’s climate action targets. ISIF announced in late 2021 an ambition to invest €1 billion in Climate related investments over the following 5-year period.
As announced by ISIF in April 2024 it has made €636m of Climate investments further to this commitment, which is ahead of the schedule stated in 2021 and ISIF is on track to invest significantly more than €1 billion in Climate over the 5-year period.
Since its inception, ISIF has made circa €930m of Climate investments with a particular focus to date on renewable energy infrastructure and provision of growth capital to companies delivering decarbonisation solutions.