Dáil Éireann Debate, Wednesday - 6 December 2023
61. Deputy Neasa Hourigan asked the Minister for Finance whether his Department has issued any guidelines to the National Treasury Management Agency with regard to ethical investment, particularly the need to not invest in the arms industry; and if he will make a statement on the matter. [53947/23]
Amharc ar fhreagraThe Ireland Strategic Investment Fund was legislated for by the Oireachtas under the NTMA (Amendment) Act 2014. Sections 39 and 40 deal with the Investment policy and the Investment strategy of the fund, respectively.
The Ireland Strategic Investment Fund (ISIF) constructs its portfolio within the legislative framework set for it by the Oireachtas and aligns it with any changes it makes. ISIF has, to date, completed several divestment programmes and excluded investments from the Fund, consistent with legislative changes enacted by the Oireachtas which have had a consequential impact on ISIF’s investment strategy. In this context ISIF operates an exclusion policy which is consistent with its statutory mandate, as amended from time to time. Exclusion is used on a limited basis, reflecting exclusions mandated by legislation including the Cluster Munitions and Anti-Personnel Mines Act 2008 and Fossil Fuel Divestment Act 2018 and, inter alia, exclusions on sustainable investment grounds using ISIF’s Exclusion Decision Making Framework, including Tobacco and Nuclear Weapons.
