Ireland’s sovereign wealth fund has dumped more than €6 million of shares after tightening its investment rules to exclude companies that make or test nuclear weapons. The investments were held through passive index funds, according to the Ireland Strategic Investment Fund (Isif), rather than as direct shareholdings in the companies involved. The fund declined to say if it made money on the transaction, although stock markets were trading at a five-year high when the shares were sold in recent weeks. The move steps up a divestment strategy than began in 2018 when legislation was introduced requiring Isif to sell €68 million of shares in 38 fossil fuel companies.
Times 27th June 2021 read more »