Brian Cowen (Laois-Offaly, Fianna Fail)

Around 25,000 people are employed directly in the IFSC. It has been a very important project that has been resilient, even in the context of the recession and the difficulties in financial services. Employment has been maintained at that level, which is testimony to its resilience and the diverse nature of the work that goes on there.

The idea of a green IFSC within the context of what we already have was the subject of a report that has been brought forward by the group, chaired by Mr. Harford, and one of the subcommittees of the Clearing House Group is now examining how the idea could be developed in the context of developing a cluster and brand incorporating green investment vehicles, with the administration of funds managed under green principles, and carbon trading and associated professional services. It is seen to be an area for potential that must be explored and exploited.

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