Minister Lenihan welcomes efforts of National Pensions Reserve Fund on ethical investments

Minister Lenihan welcomes efforts of

National Pensions Reserve Fund on ethical investments

Conor Lenihan TD, Minister of State for Irish Aid, has met with Paul Carty, Chairman of the National Pensions Reserve Fund Commission, and Dr. Michael Somers, CEO of the National Treasury Management Agency.

The Minister of State welcomed the decision by the National Pensions Reserve Fund (NPRF) to fully adopt the UN principles for responsible investment, agreed earlier this year following an initiative by the UN Secretary General Kofi Annan.

“The Commission, which is fully independent of Government in its investment decisions, has ambitious plans to provide greater scrutiny and oversight of companies in which it invests, from an environmental, ethical and human rights perspective” said Minister Lenihan.

Minister Lenihan called the meeting in response to calls for an investment ban in relation to international companies operating in Sudan and the Darfur region.

He went on to say “I very much welcome the fact that the NPRF are now going to considerable expense and effort to ensure greater scrutiny and oversight when it comes to these important issues.”

ENDS+++

18 December 2006

Press Office