Denis Naughten
Ceist:106. Deputy Denis Naughten asked the Minister for Finance the steps taken to date to divest from fossil fuel investments; and if he will make a statement on the matter. [17943/20]
Amharc ar fhreagraThursday, 23 July 2020
Ceisteanna (106)
Freagraí scríofa
The 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.
The ISIF has developed a list of 211 fossil fuel companies in which it will not invest. ISIF is currently finalising a review which will see the Fossil Fuel Exclusion List extend to over 220 names during Q3 2020.
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 with a view to ensuring that the Fossil Fuel Exclusion list is updated regularly and that any necessary divestment is actioned.