Seán Sherlock (Cork East, Labour)
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42. To ask the Minister for Communications, Energy and Natural Resources the engagement he has had with the Ireland Strategic Investment Fund in relation to fossil fuel investment; the engagement that he may have had with renewable energy companies through the Ireland Strategic Investment Fund; his views on whether any engagement might differ with the principles set out in COP 21; and if he will make a statement on the matter. [5735/17]

Denis Naughten (Roscommon-Galway, Independent)
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The Minister for Finance has policy responsibility for the Ireland Strategic Investment Fund. The investment strategies and decisions made by the fund are therefore not within my remit and not a subject on which I have engaged with the fund.  

As Minister for Communications, Climate Action and Environment, I have policy responsibility for many of the sectors in which the fund may invest. It is therefore appropriate that I and officials from my Department meet with representatives of the Ireland Strategic Investment Fund as required on areas of general energy policy and in relation to State companies.

The old National Pensions Reserve Fund transitioned in December 2014 to the Ireland Strategic Investment Fund, which has a statutory mandate to invest on a commercial basis to support economic activity and employment in Ireland. All investments, since December 2014, comply with both this double bottom line mandate and the Fund’s Sustainability and Responsible Investment Policy, which sets out key principles for responsible investment.

I consider the engagement I have had with the Ireland Strategic Investment Fund to be appropriate to my policy area of responsibility and in keeping with the principles set out in COP 21.