Oireachtas Joint and Select Committees

Tuesday, 27 June 2017

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

Fossil Fuel Divestment Bill 2016: Discussion

4:00 pm

Ms Finola Finnan:

It is not only symbolic. Our argument clearly is there needs to be coherence across Government. To deliver on the Paris Agreement, this would set out a clear marker regarding where Ireland is going. It is also important in changing public awareness. Divestment will not ensure the fossil fuel industry goes into sharp decline but it will change public opinion and demonstrate Government leadership and coherence across Departments. A great deal of money is spent addressing humanitarian disasters and responding to crises through good development aid, yet the State is investing in the fossil fuels that cause climate change and untold hardship for people. There is no coherence and we would like the Government parties to take a lead on this. They have taken a lead in development and multilateralism and they can take a lead on this. It would be a signal to Europe and the rest of the world that we are serious about the issue. It is only the start. It is one step along the way but it is important and the Government would do well to take it and follow through with other mitigation and energy policy implementation.