Written answers
Tuesday, 23 January 2024
Department of Finance
Public Expenditure Policy
Thomas Pringle (Donegal, Independent)
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204. To ask the Minister for Finance the total public monies invested in munitions companies in each year 2008 to 2023, in tabular form; and if he will make a statement on the matter. [2518/24]
Michael McGrath (Cork South Central, Fianna Fail)
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The NTMA have informed me that 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 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.
The NTMA has further informed me that 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 the general term ‘munitions companies’ which ISIF is aware of, as such ISIF is not in a position to identify a specific list of such companies.
Thomas Pringle (Donegal, Independent)
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205. To ask the Minister for Finance what measures his Department has implemented and is in the process of implementing to ensure that sections 12 and 13 of the Cluster Munitions and Anti-Personnel Mines Act 2008 are being complied with; and if he will make a statement on the matter. [2519/24]
Michael McGrath (Cork South Central, Fianna Fail)
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The NTMA has informed me that the Cluster Munitions and Antipersonnel Mines Act 2008 is legislation that effectively translated the Convention on Cluster Munitions and anti-personnel mines into Irish Law. Ireland was the first country to require divestment by law, however, this is now an industry standard. The Act prohibits the investment of “public moneys” into a company that manufactures prohibited munitions or component parts, through both direct and indirect investment as defined in the Act. The fund operates a zero-tolerance policy in respect of exposure across all mandates and regularly screens its investments through its service provider ISS ESG. The current Cluster Munitions exclusion list is published on the ISIF Website. (isif.ie/uploads/publications/Cluster-Munitionsdec23.pdf ).
Rose Conway-Walsh (Mayo, Sinn Fein)
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206. To ask the Minister for Finance for a detailed breakdown of non-voted expenditure since 2016, in tabular form; and if he will make a statement on the matter. [2520/24]
Michael McGrath (Cork South Central, Fianna Fail)
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A breakdown of non-voted expenditure for each year can be found in the Finance Accounts for the relevant year, specifically in Statements 1.4, 1.5, 1.6, and 1.10. The yearly Finance Accounts are available through my Department's website at the following address www.gov.ie/en/collection/1f1c3a-finance-accounts/
The 2023 Finance Accounts will be published in due course, after being audited by the Comptroller & Auditor General. Provisional figures for non-voted expenditure in 2023 can be found in the December Fiscal Monitor, published by my Department, at the following address www.gov.ie/en/publication/3b6cc-fiscal-monitor-december-2023/.
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