Dáil Éireann Debate, Tuesday - 13 February 2024
240. Deputy Thomas Pringle asked the Minister for Finance if Ireland holds any investments in US Treasury bonds that finance the provision of bombs and weapons to Israel; if he has any plans to divest from them; and if he will make a statement on the matter. [6577/24]
Amharc ar fhreagraI have been informed by the National Treasury Management Agency (NTMA) that the Exchequer does not currently hold any US Treasury Bonds.
The NTMA also informs me that the Ireland Strategic Investment Fund (ISIF) does hold US Treasury Bonds as Sovereign Bonds are a key part of any large globally diversified portfolio. The most recently published details of ISIF’s holdings are available in the NTMA Annual Report 2022 at the following link.
www.ntma.ie/annualreport2022/documents/Portfolio-of-Investments-ISIF.pdf
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 Fossil Fuel Divestment Act 2018 and the Cluster Munitions and Anti-Personnel Mines Act 2008 and, inter alia, exclusions on sustainable investment grounds using ISIF’s Exclusion Decision Making Framework, including Tobacco and Nuclear Weapons.
