Ireland Strategic Investment Fund eyes five-year €1bn climate-aware investment drive

They will investment in areas such as sustainable infrastructure, energy efficiency, energy storage, renewables, forestry and waste

ISIF director, Nick Ashmore, said: "Our society needs better technology, better ways of doing things and better ways to sustain our natural environment and the climate we depend on."

The Ireland Strategic Investment Fund (ISIF) – the country’s sovereign wealth fund – has reported a €450m gain in its investment value for the first half of this year and has said it is now targeting a €1bn combined investment in green-focused climate action projects over the next five years.

In its half-yearly report, ISIF – which is controlled by the NTMA – said it saw a 5.2% return on its investments in the six months to the end of June.