Catherine Connolly (Galway West, Independent)
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39. To ask the Minister for Finance further to Parliamentary Question No. 4 of 3 April 2023, the progress made to fully divest from all Ireland Strategic Investment Fund (ISIF) global portfolio investments in companies on the UN Human Rights Council database of business enterprises, given the value of direct and indirect investment in 13 companies remained at €10.65 million as at April 2025; the value of both direct and indirect investment divestment since that time; if the ISIF has increased its investment in any of these enterprises or any other enterprise on that database since the divestment process began; the timeline for divestment from these companies in entirety; and if he will make a statement on the matter. [27767/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The NTMA as a policy do not publish unaudited figures related to ISIF’s holdings or indeed any aspects of their financial statements. On this basis the NTMA publishes a detailed list of ISIF’s individual investments in its portfolio each year in the NTMA annual report. The 2023 annual report is the most recent list of individual investments that has been published, detailing the position at end 2023.

As the Deputy is aware during 2024, ISIF divested from six companies, all of which are on the UN Database, with a total value at the time of the divestment decision of approximately €2.95m. The six 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.

At the time, ISIF determined that the risk profile of these investments was no longer within its investment parameters.

ISIF continues to monitor its holdings to ensure that investments are within the ISIF’s risk profile and investment parameters.

The 2024 annual report will detail the position in terms of ISIF’s holdings at end 2024 and is due to be published shortly.