Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I move amendment No. 8:

In page 12, between lines 16 and 17, to insert the following: “ “designated housing project” has the meaning assigned to it by section 21;”.

This amendment moves us on to the infrastructure, climate and nature fund, as opposed to the future Ireland fund. "Infrastructure, climate and nature fund" is a nice name, but the only drawdowns are for climate and nature, so we know who won the arm wrestle at the Cabinet table on that one. This is about trying to bring balance because this is about an infrastructure, climate and nature fund. This is not about dismissing in any way the challenges we have with the climate end of this, but these amendments are also trying to include infrastructure. The provision for drawdowns from this fund allows Ministers to designate climate projects that would lead to a reduction in carbon emissions and therefore a designated project would be able to draw down from this fund. Designated housing projects should be included as well. Otherwise we can just call it a climate and nature fund as opposed to an infrastructure, climate and nature fund. That is what the amendments are trying to do. The only specification under the investment strategies is that the moneys are invested in or outside the State. As we discussed earlier, there should have been more clarity on some of the provisions that are there. This amendment is about allowing some of the money that builds up in the fund be drawn down for infrastructure projects that are non-climate in nature but are concerned with housing and designated as such.