The Ireland Strategic Investment Fund (ISIF) portfolio is constructed within the legislative framework set for it by the Oireachtas. ISIF has, to date, completed several divestment programmes and excluded investments from the Fund. 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, inter alia, exclusions on sustainable investment grounds including Tobacco and Nuclear Weapons.
The Deputy has referenced the A/HRC/59/23 report of the special rapporteur about human rights in the Palestinian territories, occupied since 1967. This was published in July 2025 and discusses the role of various entities in several sectors but does not provide a defined criteria or list. The Deputy may also be aware of the UN Human Rights Council database (the UN Database) identifying businesses involved in specific activities which was first issued in 2020, updated in June 2023 and most recently updated in September 2025 as mandated by the UN Human Rights Council. It is worth noting that only one of the companies mentioned in the Rapporteur’s report, Heidelberg Materials, has been added to the UN Database, when it was recently updated.
ISIF has taken 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.
Please see holdings as per the updated UN Database listed below which ISIF continues to monitor.
ISIF Exposure to UN Database List of 158 (direct, indirect & total)
|
Security Description
|
YE 2024 Direct
|
YE 2024 Indirect
|
YE 2024 Total
|
|
Airbnb INC
|
440,000
|
-
|
440,000
|
|
Altice
|
-
|
390,000
|
390,000
|
|
Booking Holdings
|
1,140,000
|
460,000
|
1,600,000
|
|
Expedia Group
|
-
|
990,000
|
990,000
|
|
Heidelberg Materials
|
100,000
|
-
|
100,000
|
|
Motorola Solutions
|
2,490,000
|
290,000
|
2,780,000
|
|
TOTAL
|
4,170,000
|
2,130,000
|
6,300,000
|
ISIF will continue to monitor its holdings to ensure that investments remain aligned with its risk profile and investment parameters and will continue to construct its portfolio within the legislative framework set for it by the Oireachtas.
ISIF does not comment on individual investments.
