Oireachtas Joint and Select Committees

Wednesday, 20 March 2024

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Illegal Israeli Settlements Divestment Bill 2023: Discussion

Mr. Nick Ashmore:

The reason we have not is that the investments arise through passive investment exposure to indices. We have the managers who are buying and selling the investments on our behalf that we own either directly or indirectly, and they are doing that based on the strategy of those funds or the strategy that we have set out which is passive investment. They are not out there picking stocks or saying "We want this stock or that stock". They are saying "We are going to give you exposure to this index". The engagement side with Hermes EOS is a separate activity focused purely on environment, social and governance issues. I will ask my colleague Ms Meghen to give some examples of that type of engagement.

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