National Pension Fund - Double or Quits - Put it all on Green
There hasn’t been much comments about this, but it seems to be a risky strategy.
Focus is not to maximise profits, but “support economic actitivity and employment” - dodgy turf in my book - like a NAMA for jobs! or comunist era planned economy.
In order to reinforce Ireland’s economic recovery, the Government has decided to reorient the National Pensions Reserve Fund from a long-term pension fund to an investment fund focused on domestic investment on commercial terms that will support economic activity and employment.
The new fund – the Ireland Strategic Investment Fund (ISIF) – will be established under legislation in the coming months.
This website contains information about the National Pensions Reserve Fund and the Ireland Strategic Investment Fund, which will absorb the resources of the NPRF.
“Ireland has made history by passing a bill that will stop all investments in coal and oil. The legislation gathered the majority vote (90 to 53) in favor of fully divesting fossil fuel investments from the eight billion pound Ireland Strategic Investment Fund.”
ISIF is a public -private partnership, be prepared to pay for expensive electricity for the rest of your lifetime.