Paul Murphy (Dublin South West, RISE) | Oireachtas source

ActionAid recently published a report on Ireland's involvement in financing fossil fuels and environmentally damaging agribusiness in the global south. It found that investment managers registered in Ireland hold an incredible $6.2 billion in bonds and shares attributable to fossil fuels and agribusiness in the global south. The top six investments are in oil and gas companies. How is that compatible with Ireland's emissions and climate finance commitments? We cannot continue to donate paltry levels of climate finance to the global south with one hand while funnelling billions of environmentally destructive investments with the other. Will the Taoiseach commit to reviewing the Fossil Fuel Divestment Act 2018 to broaden its scope to include fossil fuel use, not just exploration, and to ensure so-called indirect investments through financial derivatives, hedge funds and so on are included? The Act needs to have a much broader scope, beyond just the Ireland Strategic Investment Fund. It should be applied to all private finance flows from the thousands of banks and funds that are based here in tax haven Ireland.

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