Greens call for end to pension investments in Sudan
The Green Party has called for an end to what it calls unethical investments by the National Pensions Reserve Fund (NPRF) in Sudan.
The Party published a Bill in June that would see an end to Irish money being invested in industries including weapons, tobacco manufacturers and companies profiting from the conflict in Sudan.
Green Party Finance spokesperson Dan Boyle said many people are unaware that Irish taxpayer's money is being invested in companies operating in countries such as Sudan, where massive human rights abuses are taking place.
Deputy Boyle said: "Today's Morning Ireland report describing the €30m investment of Irish money in Sudan is just another example of how the National Pensions Reserve Fund is supporting conflicts and benefiting the makers of instruments of war across the world.
"The Irish public need to be made aware of where their money is going. It is unethical that public money is used to profit from the spoils of war and the misfortune of its victims.
"Considering the massive human rights abuses and ongoing genocide in Darfur, the Green Party is calling for cross party support to change the way the Fund operates.
"It is a tragic farce that the Government supports overseas aid projects while at the same time invests millions of euros in businesses profiting from the conflicts that bring about the need for aid in the first place.
"Under existing legislation, the NPRF Commission's only obligation is to maximise profits. It is clear to me that many taxpayers do not want public money invested in companies with links to evil regimes or in the arms industry in general.
"Internationally, the adoption of ethical investment policies is not a new or radical idea. Under Norwegian law, companies can be excluded from the Norwegian Government Pension Fund on the basis of a recommendation from an independent Council of Ethics.
"It is time that Ireland ensures that it, too, implements legislation that will require the sizeable Fund to invest responsibly."
