Mr. Nick Ashmore:

The key co-strategy for ISIF is to make commercial investments that have a positive economic and employment impact in the State. We have two portfolios. We have a portfolio of Irish impact investments, where we have done that, and then we have a reserve global portfolio which is held in low-risk, liquid, global securities around the world. The Irish strategy focuses on four key themes that are designed to help the State to meet key challenges where commercial investment can make a difference. The first theme is climate, with both near-term and long-term investments to help the State to meet its climate targets. The second theme is housing and enabling infrastructure. That consists of a lot of finance for housing development for mass-market housing on a commercial basis. It also consists of regional infrastructure. We are focused on five key regional cities and doing urban regeneration and commercial real estate in those areas, as well as small-scale infrastructure. The third focus is on scaling Irish businesses. That is a whole spectrum of funding from seed capital, venture capital, growth capital to private credit, direct and indirect. The fourth theme relates to food, agriculture and the marine where we are looking firstly to help that sector to decarbonise and secondly to avail of the opportunity around housing the market for sustainable food systems globally.