Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage
Seanad Éireann — 2024-05-29
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Alice-Mary Higgins (IND), National University of Ireland

There are loopholes in this section about getting around having a climate and nature fund that invests in fossil fuels. That is what is happening in this section. The section states that that we should try not to invest indirectly if it is a large part of whatever we are investing in. There is then section 31(3), which states that, notwithstanding sections 1 and 2 where we were going to try not to invest directly or indirectly, we can still invest where the investment is intended to be consistent with the achievement of the climate objective, the State's climate obligations and the policy of the Government as may be communicated. Again, Government policy can state that we are okay with this. Let us be clear. Fossil fuel investment is never consistent with climate change objectives or the policy of the Government. I oppose all of the language in section 31(3).

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2024-05-29/debate/main
Retrieved: 2026-08-14T04:53:01+00:00
Sitting date: 2024-05-29