Oireachtas Joint and Select Committees

Tuesday, 13 December 2022

Joint Oireachtas Committee on Agriculture, Food and the Marine

Forestry Strategic Vision: Coillte

Ms Imelda Hurley:

In overall terms, our ambition is to create or enable the creation of 100,000 ha of new forests. We are engaged and will continue to engage in any public lands that would be available as part of delivering that. We are in the early stages of engagement in those terms. It is a 30-year target, so it will build up over time.

I want to add two specific things to the earlier point. We are seeking and seeing a very significant appetite from Irish investors to enable capital to deliver. We are also seeing interest internationally, but it is important to say that we are seeing Irish interest. The other point I will make is about the funds. The Nature Trust is entirely set up with a view to delivering native woodland. It is not a financial return. It is a not-for-profit fund, and it is purely focused on that. There was mention earlier that two of the contributors are Axa and Aviva. In both instances, there is no financial return back to Axa or Aviva. The money has been contributed for ESG and sustainability purposes, purely to create new forests and deliver afforestation in Ireland.

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