State Assets

Tuesday, 28 July 2026

Questions (824)

Mairéad Farrell

Question:

824. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance if his attention has been drawn to NTMA's annual report for 2025 which shows that the value of the Ireland Strategic Investment Fund's (ISIF) holdings in a military technology company (details supplied) increased from €950,000 in December 2024 to €3.4 million in December 2025; the justification for the Irish State profiting from a company that is facilitating genocide in Gaza; if he will require NTMA to introduce ethical investment criteria to the ISIF, similar to that which exists for the Your Future Investment Fund; and if he will make a statement on the matter. [59079/26]

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Written answers

Tánaiste and Minister for Finance

The National Treasury Management Agency (NTMA) has informed me that the Ireland Strategic Investment Fund (ISIF) has, to date, completed several divestment programmes and excluded investments from the Fund, consistent with legislative changes enacted by the Oireachtas. 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.

It is important to say from the outset that ISIF, has complete independence in implementing its investment strategy under the NTMA Acts through an investment committee that reports to the NTMA's board.

ISIF does not comment on individual investments. However, it will continue to monitor its holdings to ensure that investments remain aligned with its risk profile and investment parameters.