Pa Daly (Kerry, Sinn Fein)
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54. To ask the Minister for Finance for an update on the fossil fuel divestment from the Ireland Strategic Investment Fund; and if he will make a statement on the matter. [16100/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Fossil Fuel Divestment Act 2018 (the “Act”) has been in place since December 2018. The Act prohibits the NTMA (as controller and manager of ISIF), inter alia, from directly investing in any undertaking that generates 20% or more of its turnover from the exploration for or extraction or refinement of a fossil fuel (coal, oil, natural gas, peat or any derivative thereof intended for use in the production of energy by combustion).

Ireland was one of the first countries to divest public money from fossil fuel investments and ISIF remains one of a select few globally to implement a fossil fuel divestment strategy. ISIF has developed a list of 254 fossil fuel companies in which it will not invest, as determined by criteria within the Act.

This list is updated on a semi-annual basis in line with methodology which is aligned to the Act and is available on ISIF’s website.