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 Cliona Sharkey:

To follow on from Deputy Pringle, regarding the definition, the objective of the Bill is to send a political and public message and its intention is to advance the transition in Ireland, not to hinder it. Those issues regarding the definition can be looked at again at amendment stage to see what is ambitious, practical and implemental in the Irish context and what might serve to advance the transition.

Returning to Deputy Doherty's point about energy security, if we step back, the bigger picture is that the greatest risk to energy security is a failure to decarbonise in a timely manner. That is the message we are trying to signal. The need to prioritise our investment in the solutions rather than the infrastructure in industries that will have to be phased out. There must also be an understanding that the grey area where continued investment might be needed and the Bill can and should make provision for that, while ensuring that there is a strict criteria to ensure those investments remain to the spirit and purpose of the Bill.