Seanad debates

Friday, 17 July 2020

National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020: Committee and Remaining Stages

 

10:30 am

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent) | Oireachtas source

I am not proposing to give the energy policy remit to the agency; I am trying just to ensure coherence. While we have talked about the State, the powers extend to actions in the State or elsewhere, and in international meetings they relate to wider oil stocks. This is very important. We should absolutely be divesting, but we have seen that Japan, for example, divested at home but then was sponsoring oil-fired plants in Bangladesh. We need a consistency and a coherence. I am not suggesting we widen the function of NORA. I have not included such an extension in the amendment. I am just asking the Minister to assure us that he will ensure we do not take actions that are contradictory to that direction, for example, that the agency does not take a position that would undermine the capacity for divestment of another country or other measures. It is just a very small thing. I accept that the Minister might not be able to accept the amendment at this point but I would like an assurance that he will be checking in on this and cognisant of it. We cannot simply say things happen in a silo. We know they do not.

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