652. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance further to Parliamentary Question No. 824 of 28 July 2026, to provide a full list of all of Ireland Strategic Investment Fund's (ISIF) investments impacted by its divestment programmes and excluded investments from the Fund, as referenced; the value of each investment and the date that ISIF’s holdings in each investment was sold, in tabular form; and if he will make a statement on the matter. [59748/26]

As the Deputy will be aware, ISIF has, to date, completed a number of divestments and exclusions from the Fund. The National Treasury Management Agency (NTMA) has informed me that exclusion is used on a limited basis, reflecting exclusions mandated by legislation including the Fossil Fuel Divestment Act 2018 and the Cluster Munitions and Anti-Personnel Mines Act 2008 and exclusions on sustainable investment grounds including tobacco, nuclear weapons, and certain companies on the UN Database.

Divestment & Exclusions:

The Fossil Fuel Divestment Act 2018 has been in place since December 2018. Pursuant to the terms of the Act, the NTMA must, inter alia, endeavour to ensure that the assets of the ISIF are not directly invested 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). As of April 2026, ISIF has developed a list of 304 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 assets.isif.ie/publications/Fossil-Fuel-Exclusion-List-April-2026.pdf

ISIF also maintains an exclusionary strategy around cluster munitions and antipersonnel mines (which are prohibited investments under the Cluster Munitions and Anti-Personnel Mines Act 2008). The current Cluster Munitions exclusion list is published on the ISIF Website: assets.isif.ie/publications/Cluster-Munitions-Anti-Personnel-Mines-Exclusion-List-2026.pdf

In addition, ISIF has excluded firms involved in tobacco manufacturing (2016) and the manufacture and testing of nuclear weapons or critical components (2021). Further detail is available in ISIF’s Sustainable & Responsible Investment Strategy: assets.isif.ie/publications/SRI2023_2023-09-26-152251_jdcs.pdf

In 2024, ISIF took an investment decision to divest from six companies, all of which remain on the updated UN Database, 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 determined that the risk profile of these investments was no longer within its investment parameters.

Given the geopolitical tensions and conflict in the Middle East in 2025, ISIF determined that the risk profile of a number of sovereign bond holdings in the region were no longer within its investment parameters. Following this determination, ISIF divested its holdings of sovereign debt issued by Egypt, Israel and Jordan.

I understand that ISIF will continue to monitor its holdings to ensure that investments remain aligned with its risk profile and investment parameters. A list of ISIF investments is available in the 2025 NTMA Annual Report: www.ntma.ie/annualreport-2025/