Alice-Mary Higgins (Independent) | Oireachtas source

To be clear on amendment No. 8, the amendment moves the percentage, that upper ceiling, as the Minister described it, of the assets of something we invest in that can be in fossil fuels. That upper ceiling is now 15%. I suggest that it be lowered to 1%. I believe that still allows space for inadvertent error or something further down in a company's portfolio that people were not aware of. I do not believe that investing in entities of whose assets 15%, 12% or 5% are invested in fossil fuels is acceptable in the current climate crisis. I believe 1% is a better figure. If we had longer, we could start with the figure of 5% and debate that.

I am going to press the amendment on the 1%. Even if I am unsuccessful with that vote, as may be the case, I urge the Minister to examine whether 15% is appropriate. He has said that it is not a target but 15% is a lot. It is big. It feels a little bit like we are giving too much leeway. It is like you can have a spread bet with just a little bit still going indirectly on fossil fuels. That is not acceptable at this point so I am going to press the amendment. It may also be worth examining the percentage we have hit and what has been the practice under the Fossil Fuel Divestment Act. The Minister would have those figures but I do not. That might be worth examining in the context of the Minister's discretionary power to lower the target, which is something that should also be considered regardless of how my amendment fares.