Alice-Mary Higgins (Independent) | Oireachtas source

This effectively includes the actors but not their products. The products are where the money is. I noted from one of the reports on Ireland's submission to the early negotiation process – I appreciate that the process has moved on since – that Ireland raised concerns about the significant administrative and cost burdens on, for example, pension schemes. This is where the money is. How an asset manager runs his or her office is included in the directive, but the products he or she sells are not even though those products may present the opportunity to invest in ways that are not checked for child labour, slave labour, the use of violence and land appropriation. These are essential issues.

The CCAC and the Intergovernmental Panel on Climate Change, IPCC, have identified that the irresponsible actions of investors are a key driver of climate change. To take these products out of the mix and say that what happens with those large amounts will not be made accountable will undermine overall confidence in the directive. Even if it is only to think of our own reputation, I urge the Government to ensure that Ireland is not championing this issue.

I welcome the position on the value chain, but will the Minister of State comment on gender proofing, which is another key concern?

I was part of the Conference on the Future of Europe process. One of the strongest recommendations made by multiple citizens from multiple parts of Europe was for ethical and environmental responsibility and accountability by business. I am worried that they will be disappointed with the final directive.