Michael McGrath (Cork South Central, Fianna Fail)
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The Ireland Strategic Investment Fund (ISIF) portfolio is constructed within the legislative framework set for it by the Oireachtas. ISIF has a Sustainable & Responsible Investment Strategy (S&RIS) which reflects a commitment to be a responsible investor as steward of public assets by protecting and enhancing both the long-term value of the ISIF and the reputation of the National Treasury Management Agency (NTMA) in how it delivers its mandate, as manager and controller of the ISIF. In this context ISIF operates an exclusion policy which is consistent with its statutory mandate, as amended from time to time. Exclusion is used on a limited basis, reflecting exclusions mandated by legislation including the Cluster Munitions and Anti-Personnel Mines Act 2008 and, inter alia, exclusions on sustainable investment grounds including the exclusion of direct investment in companies that have been verified to be involved in the manufacture and testing of nuclear weapons or critical component parts.

Details of all ISIF direct holdings (as at 31 December 2022) are available in the NTMA’s published 2022 Annual Report. There is currently no accepted definition or tracking mechanism for companies that are engaged in varying degrees of production, export or selling of weapons or dual-use items for a military purpose which ISIF is aware of, as such ISIF is not in a position to identify a specific list of such companies.