Thursday, 16 November 2023
Department of Finance
125. To ask the Minister for Finance if he will guarantee that the future Ireland fund and the infrastructure, climate and nature fund will not invest in the fossil fuels or the arms industry; and if he will make a statement on the matter. [50362/23]
As provided for in the Heads of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill the Future Ireland Fund and Infrastructure, Climate and Nature Fund will be invested and managed by the National Treasury Management Agency (NTMA) to seek to secure the optimal total financial return, as to both capital and income, having regard to the purpose of each Fund.
The two Funds will be subject to the legislative restrictions under the Cluster Munitions and Anti-Personnel Mines Act 2008 and the Fossil Fuel Divestment Act 2018 shall be replicated for both funds as provide for in the General Scheme of the Bill.
Subject to the drafting of the Future Ireland Fund and Infrastructure Climate & Nature Fund the Funds will also align with the ISIF voluntary exclusions including investments in tobacco companies and companies which manufacture nuclear armaments.