Donnchadh Ó Laoghaire (Cork South-Central, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

50. To ask the Minister for Finance his views on the current investment Ireland has in companies which derive profit from their activities in illegal settlements; and if the Government plans to progress the Illegal Israeli Settlements Divestment Bill 2023. [4505/25]

Catherine Connolly (Galway West, Independent)
Link to this: Individually | In context | Oireachtas source

55. To ask the Minister for Finance if the National Treasure Management Agency has fully divested from all Ireland strategic investment fund global portfolio investments in companies on the UN Human Rights Council database of business enterprises; and if he will make a statement on the matter. [4896/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 50 and 55 together.

As the Deputies are aware, the UN maintains a database of businesses involved in certain specified activities relating to settlements in the OPT. At end 2023, ISIF’s direct investments in companies on the UN database was approximately €4.2m in 11 companies. ISIF’s indirect investments included 8 companies totalling approximately €9.4m.

Following an announcement in April 2024 ISIF divested from 6 of these companies with a total value of approximately €2.95m. The 6 companies were 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 continues to monitor its holdings to ensure that investments are within ISIF’s risk profile and investment parameters. Given commercial sensitivities, ISIF does not comment on individual investment decisions.

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.