Alice-Mary Higgins (Independent) | Oireachtas source

I move amendment No. 1:

In page 3, line 27, after “concerned” to insert “and such conditions may include social and environmental criteria”.

This amendment proposes that the conditions attached to the agreements which the State may sign with banks in respect of loans under this scheme may include social and environmental criteria.I do this cognisant of the fact that this is effectively a co-funding and a co-sponsoring process whereby part of the guaranteeing process is done by European institutions which have set out eligibility criteria. The Minister of State may clarify for me but I believe it is 56% co-guarantee from Europe and 24% from Ireland, which comprises an 80% guarantee in total.

In the case of the European Investment Bank and other such financial bodies, when they bring financial instruments through, we have had clarity on the environmental and social standards which they are setting out in their loans because there is a recognition that all the funding that we have and all of these new measures of stimulus should be in tune with our overall goals of moving forward, for example, on the green deal and on recognising priorities of resilience.

For example, on the European side, there are the assessment and management of environmental risks, pollution prevention, biodiversity and ecosystems, cultural heritage, the rights and interests of vulnerable groups and labour standards, which are all part of the criteria that are being attached. I am simply asking that in the 24% that is being guaranteed by Ireland, we would have similar evidence of what conditions and of what kinds of criteria and considerations are being brought to bear.

I note with disappointment, and I disagree, with respect, to the decision of the Leas-Chathaoirleach that my amendment No. 10, which called for a report to look exactly at how all of these issues have been addressed by the loans given under the scheme, was found to be not relevant. It is deeply relevant, however, because these are standards which Europe-----