Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein)
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251. To ask the Minister for Finance the status of the Fossil Fuel Divestment Bill 2017; and if he will make a statement on the matter. [46955/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will be aware, the Fossil Fuel Divestment Bill 2016 is a Private Members Bill which was introduced by Deputy Thomas Pringle in November 2016. It is not a Government Bill. However I can indicate to the Deputy where the Bill currently stands.

Following its passage through Second Stage on 19 January 2017, the Bill was referred to the Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach for pre-legislative scrutiny. Minister for State D’Arcy and the Ireland Strategic Investment Fund (ISIF) made separate appearances before that Committee on 27 June last.

As indicated by Deputy Pringle during Minister D’Arcy’s appearance before the Committee, he will work with the Government, during Committee Stage, to arrive at amendments which seek to address Government concerns regarding the unintended consequences which the Bill might have.

ISIF has been proactive in this space and following a review has recently written to me proposing an update to it investment strategy in terms of the exclusion of certain categories of investment.

Regarding the Private Member’s Bill I await the Committee's signalling as to when to move to Committee stage proper.