Mr. Gabriel Makhlouf:

I will ask Mr. Madouros to address some of those questions but before doing so, I will take a step back and make some general points in response. First, there is a lot of work taking place globally, across the Eurosystem and in the Central Bank, to address climate change issues in particular. Ms Rowland is leading on a lot of work within Europe and internationally on what is known colloquially as greenwashing and addressing the challenges it poses. At the ECB we have made decisions on our investment portfolio and as Senator Higgins said, the Central Bank of Ireland, in the context of its non-monetary policy portfolio, has made decisions on what we describe as its "sustainable investment exclusion policy".

We have a policy of not investing in fossil fuels. I do not think we have any investments in the occupied territories. I do not know whether Mr. Madouros knows but we can check that. I do not know the position at all. We do not actually have a policy specifically around that either. Within our own actions, outside of our financial investments, we are very proud that our premises have won awards for their environmental friendliness. I will ask Mr. Madouros to respond now.