Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It is important we take a comprehensive approach to examining this issue. The UN acknowledged that the list it published was not complete or exhaustive. ISIF's policies in respect of environmental, social, and corporate governance, ESG, have demonstrated an ability to invest ethically. For example, under the Fossil Fuel Divestment Act 2018, at the end of last year, the fund had developed a list of 243 fossil fuel companies in which it will not invest. In addition, the fund also maintains an exclusionary strategy around cluster munitions and anti-personnel mines, which are prohibited under the Cluster Munitions and Anti-Personnel Mines Act, coal production and processing, tobacco manufacturing and direct investment in companies involved in the manufacturing and testing of nuclear weapons or their critical component parts.

I am actively working on this issue. I am engaging with the NTMA and ISIF. We have engaged with Oireachtas committees through my officials. I will bring this matter to the Government shortly.

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