Written answers
Wednesday, 11 November 2020
Department of Finance
Fossil Fuels
Denis Naughten (Roscommon-Galway, Independent)
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68. To ask the Minister for Finance further to Parliamentary Question No. 106 of 23 July 2020, the status of the steps taken to date to divest from fossil fuel investments; and if he will make a statement on the matter. [35537/20]
Paschal Donohoe (Dublin Central, Fine Gael)
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The Fossil Fuel Divestment Act 2018 provides for the divestment by the Ireland Strategic Investment Fund (ISIF) from fossil fuel undertakings (effectively, companies that derive more than 20% of their revenues from the exploration, extraction and/or refinement of fossil fuels) within a practicable timeframe.
To this end, the ISIF has developed a list of 224 fossil fuel companies in which it will not invest.
The most recent Fossil Fuel Exclusion list is published on the ISIF's website at . Compliance with the Fossil Fuel Divestment Act is actively monitored and reviewed by the ISIF every 6-months with a view to ensuring that the Fossil Fuel Exclusion list is updated regularly and that any necessary divestment is actioned.
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