Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I do not want to say that it is unnecessary but that is the policy to which ISIF is adhering. The correct figure is €288 million, in terms of direct investments and €1 billion in indirect investments. We cannot ignore the fact that Ireland is very heavily reliant on fossil fuels. Approximately 91% of all our energy requirements in 2015 was met by fossil fuels - 48% by oil, 27% by natural gas, 10% by coal and 6% by peat. We are trying to move away from that heavy reliance and the Government's climate change strategy, in terms of adhering to the Paris accord, means that will happen. However, we believe that ISIF should be allowed to do it over a five year period.