Oireachtas Joint and Select Committees

Thursday, 12 July 2018

Public Accounts Committee

2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

I have to note the contrast between the two debates happening in the Oireachtas today. The Fossil Fuel Divestment Bill passing in the Chamber is asking the NTMA's Ireland Strategic Investment Fund not to hold any shares in fossil fuel companies while the NTMA is also the principal adviser to the Minister who has shares in the ESB. Moneypoint must be the biggest CO2 emitter in Europe perhaps but certainly in Ireland. How do the two sides of the house sit together in the NTMA? One arm is saying let us keep bringing in millions of tonnes of coal from Colombia on each ship that comes in every month. The other arm then is saying that we should not be investing or holding shares in fossil fuel companies. There is a dichotomy that Mr. O'Kelly might explain to me or perhaps we created that?

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