Thomas Pringle (Donegal, Independent) | Oireachtas source

This is my first time sitting on this side of the room, so it seems a bit strange. I thank the members of this committee for the opportunity to speak today and for the members' openness and willingness to engage with the important issue of fossil fuel divestment. There has been much criticism of the so-called new politics in the current arrangements and, in some ways, rightly so. Without this new politics, however, I, as an Independent rural opposition Deputy, would not have had the opportunity to present legislation like this today. This committee has helped facilitate this in a timely manner by ensuring the Bill reached scrutiny stage not too long after the Second Stage debate.

I will say a few words about the importance of this Bill and its contents before leaving the more technical aspects to the experts I have with me, who will also be presenting. I thank Mr. Kingsmill Bond and Trócaire for their incredible support and for the work they have put in to raise awareness of fossil fuel divestment and the progression of this Bill through the different stages. As the committee will be aware from the explanatory memorandum, the Bill seeks to compel the Ireland Strategic Investment Fund to divest its assets from fossil fuel companies over a period of five years.

I want to make clear that this Bill has not been brought forward to single out or castigate the ISIF or to use it as a platform to in any way attack the political ideology of any party in the House. This Bill is about highlighting the urgent need for all policies to align with the agenda set out in the Paris Agreement. This is not altruism - it is both our moral obligation and an existential expediency - nor is this about constraining investment and policy decisions. It is about shifting policy and investment focus away from the technologies and industries that must be phased out if we are to protect civilisation as we know it and about ensuring that scare public resources are invested in the technologies, industries and jobs of the future. It is about sending a message to the public and private sectors in Ireland, large and small, that the Oireachtas is taking the risks posed by climate change seriously and will act to protect people and the State from those risks. It is also about demonstrating to the international community that Ireland stands by the commitment it made to the Paris Agreement and that it will be a serious player in the emerging green global economy.

One might well ask why a rural Deputy like me would be interested in bringing forward legislation like this but the answer is simple. It is a question of climate justice. Climate change affects everyone but not all equally. Climate justice on a domestic level means local communities, in particular rural and isolated communities, having a stake in future energy projects which will have an impact on their communities. We need to empower communities to engage with and defend themselves during the transition to a low carbon economy. If rural Deputies like myself do not join the debate on climate change mitigation now, then we may continue to be left behind by national policies and decisions which disproportionately affect our communities.

I also feel very strongly that Ireland has an obligation, a duty and a moral imperative to concern itself with the plight of disadvantaged communities in poorer countries already feeling the effects of climate change and who are disproportionately affected by climate change while having no recourse to mitigate against its effects. As I highlighted in the debate in January and in my written submission to the committee in recent weeks, I look forward to working with colleagues on Committee Stage to address any technical issues with regard to definitions to ensure the Bill serves to advance the decarbonisation agenda in Ireland, and to avoid unintended consequences.