Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the delegates to the committee. I commend Deputy Thomas Pringle for his work in bringing this legislation through Second Stage to the point of pre-legislative scrutiny. It is probably fair to say everybody agrees with the spirit of what is being attempted by him in the Bill. Deputy Gerry Adams drafted similar legislation in the past and presented it to Trócaire. Since Deputy Thomas Pringle introduced his legislation, however, we have decided to support the principle behind it. I am glad that it has reached this stage and I will work to bring it into law. I have a number of questions. As Deputy Michael McGrath said, we will hear from others who may be raising issues about the legislation. I want to use the opportunity to raise some of these concerns in order to hear what the delegates, as experts, have to say about them.

The ISIF is stating it is selling up or unwinding its global investments and that it will do so within a five-year period, with the result that all of its investments will be on the island of Ireland. It is also stating all of its investments are in sectors which are targeting or facilitating a transition to a low-carbon economy. Given what Deputy Thomas Pringle said, do the delegates have any evidence to suggest this is not the case and that it is investing in areas in Ireland in which it should not be investing, bearing in mind the transition to a low-carbon policy?