The Green Party is calling on the Irish Strategic Investment Fund (ISIF) to divest Irish taxpayers' money from climate damaging and polluting projects overseas.

The party made the call following a controversial majority decision to establish a Partnership with the National Treasury Management Agency (NTMA) and Kilkenny County Council to commercially develop the former Smithwicks' Brewery lands in Kilkenny City.

The Party claims that the fund which is administered through the NTMA has not been ethically checked and is being invested in public projects in Ireland for a commercial return to boost pension funds.

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Cllr Malcolm Noonan, Green Party Environment Spokesperson said: "This is a very poor deal for the people of Kilkenny; social housing is being isolated on what will be a very busy, noisy and polluted road (the Central Access Scheme) and the goodwill that was generated by the 500 people who attended public participation meetings to develop a vision for the site has been undermined completely.

"The ISIF Fund has, to date, not invested in social housing because it is not commercially viable. In this case the Council has claimed that privately developed housing or apartments on the site could be considered for rent supplement or Housing Assistance Payment. I find this absurd as property here will be sold as prime real estate and I'd doubt if investors would take kindly to any form of social housing on the site."

(CD/MH)