Alice-Mary Higgins (Independent) | Oireachtas source

I welcome the Commissioner to the House on Europe Day, as we are reflecting on the 50th anniversary of Ireland's membership.

When we look to what is valued by citizens in Ireland and why there is that trust of Europe, it is that legacy that Europe had in helping create the collective momentum for change in areas such as gender equality, workers' rights, LGBT rights and environmental protection. This is something I saw echoed - the Commissioner was part of this process too - in the future of Europe process. It is that collective work for improving and strengthening our rights, our regulations and the standards to raising the bar collectively that inspires and leads a sense of connection of citizens right across Europe to the EU. In that sense, the key to our Union's survival and, indeed, to its thriving over the next 50 years is that we continue to work together not only to focus on the economic growth or the political power that the Union might offer, but to look to the areas of climate action, social cohesion, quality of life and solidarity, both within Europe's diversity and, indeed, beyond its borders.

The Commissioner mentioned rightly some of the mistakes that had been made during austerity. It is vital that we look to those risks, including the significant risks that we are facing in areas such as fintech now, and in terms of cryptocurrency. It is important that the excitement around fintech does not lead Ireland, especially as it will be particularly exposed to concerns in relation to the regulation of cryptoassets or cryptocurrency. It is important that we have vital scrutiny in that regard.

The other mistakes that was made during that period of time from 2008 were mistakes in terms of austerity, when Europe seemed to put aside the prioritisation of rights and of collective ambition and agenda in areas such as the environment and public investment to focus on short-term fiscal targets. It is important when we introduce a new EU economic governance framework this year that we do not make those same mistakes and that we have the space for public investment in the collective public good.

The climate crisis is one of the greatest collective challenges that we face. I echo the comments made by Senator Pauline O'Reilly. I believe an error was made. It is regrettable, and it was regressive, that gas and nuclear were included in the EU taxonomy for sustainable economic activities. It is inaccurate to label such activities as renewable or sustainable. Indeed, it has cost us time - time that we lost during austerity that we are now losing again - when should be prioritising renewals. The volatility of gas, physically, politically and financially, has been clearly demonstrated in the time since that decision.That decision needs to be revised so that we can focus on what we need to focus on, which is, as the Commissioner has said, investments, including public investments, that will deliver better for our collective future.

The corporate sustainability due diligence directive has the potential to play a transformative role in making sure that companies within Europe are not violating human rights and environmental legislation through their supply chains across the world. However, we are concerned to hear reports that the exclusion of certain financial services from the directive is being considered. We are also concerned about Ireland's role in respect of the exclusion of certain financial services. The directive has to be ambitious and not exclude certain sectors due to special pleading when we know the investments and practices of these sectors are extremely exposed and dangerous to human rights and the environment.

I am also aware that negotiations on the anti-money laundering directive and legislative package are under way. In line with calls from civil society groups like Oxfam and Transparency International, I urge the adoption of legislative measures that include strong provisions for stakeholder access.

I will conclude with two points. The recent establishment of Seanad Select Committee on Scrutiny of Draft EU-related Statutory Instruments is an opportunity for the Seanad to play a key role in strengthening the scrutiny of EU directives and the decisions made as to how they are transposed. Lastly, peace is the great prize of the European Union. It is not a matter of maturity to say you want to talk about security and defence. Ireland's neutrality has given us a mature voice in respect of peace. It is very important to note that being a beacon for peace and human rights, a consolidation of values and a champion for peace and rights rather than a fortress, a military bloc or a simple consolidation of power or interests is what gives Europe its strength.