Catherine Connolly (Galway West, Independent) | Oireachtas source

Yes, as my colleague said, it is opaque. On top of that, it is a system set up to promote infrastructure. The privately managed IIF holds investments in five Irish infrastructure companies in the energy, healthcare, telecoms and hospitality sectors. There is a presumption that all of this is right. Of course we need infrastructure. I am not questioning that. However, this is supposed to be good without any analysis of what is good. The State holds 49%. There is a push in a particular direction. For example, I would immediately think of climate change. Some infrastructure projects may make us more vulnerable to climate change. The officials from the National Treasury Management Agency, NTMA, were very good. They put their hands up and said they had not considered climate change in making investments. Fair play to Mr. O'Kelly. Since then the NTMA has taken action. We are seeing the same thing in this matter. We are struggling.