Brian Cowen (Laois-Offaly, Fianna Fail)

The Deputy is engaging in semantics. The IFSC banking and treasury group has begun work on bringing this about. We are talking about a report that examines the potential that exists to develop a green IFSC cluster and brand, incorporating green investment vehicles, with the administration of funds managed under green principles, and carbon trading and associated professional services. Launching a green finance initiative within the IFSC is now the job being undertaken by this group. It is not within my Department; there are many professionals involved from the banking and treasury sections of the clearing house mechanism, along with the IDA and Enterprise Ireland. The fact that we will have it by June of this year indicates the priority we have given to it.

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