Matt Carthy (Cavan-Monaghan, Sinn Fein)
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114. To ask the Minister for Finance the number and value of investments the Irish State holds in companies who derive profit from their activities in illegal Israeli settlements; the legal obligations placed upon Ireland by recent rulings of the International Court of Justice (ICJ) regarding such economic investments which support Israel's illegal occupation; if this Government intend to progress Sinn Féin’s Illegal Israeli Settlements Divestment Bill 2023 in order to ensure compliance with the rulings of the ICJ; and if he will make a statement on the matter. [4880/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the UN maintains a database of business enterprises involved in certain specified activities relating to settlements in the Occupied Palestinian Territories (OPT). At the end of 2023, ISIF’s direct investments in companies on the UN database totalled approximately €4.2 million in 11 companies. ISIF’s indirect investments included 8 companies totalling approximately €9.4 million.

ISIF took an investment decision in 2024 to divest from six of these companies with a total value at the time of the divestment decision of approximately €2.95m. The six companies are Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank Ltd; Mizrahi Tefahot Bank Ltd; First International Bank Ltd and Rami Levi Chain Stores Ltd.

ISIF will continue to monitor its holdings to ensure that investments are within the ISIF’s risk profile and investment parameters. Given commercial sensitivities in respect of its investments, ISIF does not comment on individual investment decisions.

With regard to the Advisory Opinion of the International Court of Justice with respect to Israeli control over the OPT, there is a question as to whether the Opinion extends into the specific direct or indirect ownership of companies with activities in the OPT by a state owned Fund. This would require further analysis.

There is also, I understand, discussion ongoing at EU level on a legal analysis of the Advisory Opinion.

Finally, at the time that the General Election was called in November 2024 the Private Members Illegal Israeli Settlements Divestment Bill 2023 was awaiting its Committee Stage in the 33rd Dáil.