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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

State’s wealth fund holds EUR70m shares in polluting firms

Posted on 14 August 2015

The State’s main sovereign wealth fund holds more than €70 million worth of investments in some of the most polluting industries on the planet. An analysis by two leading environmental researchers reveals Ireland’s Strategic Investment Fund (ISIF) maintains a portfolio of shares in oil, coal and fracking companies, the bulk of them in North America.
The most high-profile is TransCanada, the company behind the controversial Keystone XL project, which aims to bring oil extracted from Canada’s vast reserves of tar sands to US refineries on the Gulf coast. US president Barack Obama recently invoked his presidential veto to block the project on environmental grounds but Republicans have vowed to continue campaigning for it………………………………………..Full Article: Source


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