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Written Answers — Department of Arts, Heritage and the Gaeltacht: Oideachas Gaeltachta (29 Jun 2017)

Pearse Doherty: 172. To ask the Minister for Arts, Heritage and the Gaeltacht maidir leis an liúntas is déanaí a fógraíodh an 9ú Bealtaine 2017 le cuidiú le soláthraithe seirbhíse luathoideachais Gaeltachta ó thaobh tacaíochtaí teanga, cad chuige nach raibh deontas curtha ar fáil do sholáthraí i gContae Dhún na nGall (sonraí...

Written Answers — Department of Arts, Heritage and the Gaeltacht: Oideachas Gaeltachta (29 Jun 2017)

Pearse Doherty: 173. To ask the Minister for Arts, Heritage and the Gaeltacht maidir leis an liúntas is déanaí a fógraíodh an 9ú Bealtaine 2017 le cuidiú le soláthraithe seirbhíse luathoideachais Gaeltachta ó thaobh tacaíochtaí teanga, cad chuige nach raibh deontas curtha ar fáil do sholáthraí i gContae na Gaillimhe (sonraí...

European Council: Statements (28 Jun 2017)

Pearse Doherty: With another European Council gone, another opportunity has been missed to put forward Ireland's demands and another chance has gone to tell the European Union that while moral support and rhetoric are fine and well, what this country, North and South, needs is real practical support. A first step would be for the Taoiseach to follow through on a promise he made to his party faithful while...

Written Answers — Department of Finance: Insurance Industry Regulation (28 Jun 2017)

Pearse Doherty: 92. To ask the Minister for Finance if he will amend the insurance compensation fund legislation to allow the claimants at a company (details supplied) that are likely to be compensated soon; and if he will make a statement on the matter. [30254/17]

Written Answers — Department of Finance: Central Bank of Ireland Investigations (28 Jun 2017)

Pearse Doherty: 97. To ask the Minister for Finance the action the Central Bank has taken after it asserted in correspondence to him that it had received false and misleading information in the context of its investigation into the motor insurance sector; and if he will make a statement on the matter. [30391/17]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: I welcome the delegates to the committee. I commend Deputy Thomas Pringle for his work in bringing this legislation through Second Stage to the point of pre-legislative scrutiny. It is probably fair to say everybody agrees with the spirit of what is being attempted by him in the Bill. Deputy Gerry Adams drafted similar legislation in the past and presented it to Trócaire. Since...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: I appreciate that. The Minister has informed us that he has some concerns that the definition of fossil fuel companies could restrict investment in Bord na Móna and the National Oil Reserves Agency. Where should we be in permitting, or not as the case may be, investment in these State agencies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: It could be argued that it will limit the ability to make investments. Of course, it will as that is the intention of the legislation. Bord na Móna is a State body involved in peat extraction and in which the Ireland Strategic Investment Fund, ISIF, would not be able to invest. From the earlier conversation, was it suggested there might be openness to an amendment to allow the ISIF to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: On putting diesel in a tractor, the argument will be made that the definition will restrict investment by the ISIF. The fund already invests. We are familiar with its portfolio which is in the billions of euro and how it invests on a large scale. Through the Strategic Banking Corporation of Ireland, it is one of three contributors, with KfW Bankengruppe and the European Investment Bank,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: It is only a matter of time. The clock is already ticking and has ticked down a lot. There is talk about the State’s dependency on fossil fuel imports. It is argued that because the Bill prohibits the direct support of fossil fuels it will potentially prevent investment in strategic infrastructure required to carry from Britain or elsewhere energy supplies which originated from...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: Is it correct that the Bill's intention is not to prevent that from happening?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: Deputy Gerry Adams’s Bill deals with the storage and marketing of fossil fuels. It also deals specifically with financial vehicles and collective investments which, under this definition, could be a fossil fuel company. Accordingly, the investment could be in several aspects of a company's business, inlcuding the storage, production or extraction of fossil fuels. The question arises...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: I thank the witnesses for providing the information. I know Ms Sharkey wants to come in on this. It is an excellent effort on the part of Deputy Pringle and the witnesses who are supporting the legislation, and my party will support it as much as we can so that it might pass through the Oireachtas as quickly as possible. Hopefully we can have all-party support to send out the clear...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: Cuirim fáilte roimh an toscaireacht anseo. I welcome the presentations. I wish to ask Mr. Bristow questions on the three specific points that he has raised. In the earlier session, we heard on the first point that it is about ISIF being allowed to retain its ability to allow for the transition to a low carbon economy, which is very much in line with what Dr. Deane was saying there...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: Would Mr. Bristow be happy with legislation that prevented the ISIF from investing globally in any fossil fuel company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: We are just dealing with the island of Ireland, and there are certain fossil fuel companies that Mr. Bristow believes ISIF should still be able to invest in, because he believes they are not at the dirtier end of the spectrum.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: That is the first point on which there is broad agreement. We will hear what the Minister has to say about that but is Mr. Bristow saying that where they are investing in environmentally friendly energy, part of the work would be specifically targeted for investment? We will leave that to one side, but the question is more whether, in light of everything we hear about what is happening...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: Does Dr. Deane have a view on this point?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: There is also a question of principle and a bigger issue which relates to how the State invests. There is around €9 billion, or certainly a large amount of money under consideration, but it is not huge in terms of the national economy and all its needs and demands. There are many areas in which the ISIF can invest, but, on a matter of principle, is it Dr. Deane's view that the State...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Fuel Divestment Bill 2016: Discussion (27 Jun 2017)

Pearse Doherty: The third point which has been raised relates to unintended consequences that may arise from the drafting of the Bill. Dr. Deane mentioned Bord na Mona and the ESB. Those issues can probably be dealt with during the amendment stages. Is it Dr. Deane's view that Bord na Mona or the ESB should receive funding from ISIF regardless of the type of activity they undertake or should it only apply...

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