A motion is set to be brought forward demanding the government to immediately halt Coillte's proposed joint venture with investment fund Gresham House.

Led by Sinn Féin, this motion will go before the Dáil next week.

Sinn Féin representative Matt Carthy TD said: "The proposed Coillte joint venture with Gresham House has caused widespread concern among environmentalists, farmers, the forestry sector and local communities. The venture is not about Climate, it’s not even about tree-planting. For Gresham House, this venture is simply about corporate profit. 

"The funds delivered through the venture will be solely for the purpose of purchasing agricultural land that farmers could plant on themselves if government delivered a workable regulatory framework.

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"The Ministers for Agriculture and Public Expenditure are the shareholders, on behalf of the Irish people, of Coillte. They can, and they should, instruct Coillte to immediately stall this plan – Sinn Féin's motion will give those Ministers a Dáil mandate to do just that.

"Our motion will also address the underlying issues that have led to the collapse of afforestation by directing government to publish a new forestry strategy as a matter of urgency and ensure that the new strategy prioritises afforestation undertaken by local communities, farmers, landowners and public bodies above investment management ventures.

"The Sinn Féin motion will provide all TDs with the opportunity to support our rural communities, stop Coillte's proposed corporate land-grab, and deliver a forestry plan that will have the support of rural communities, help Ireland meet our Climate Action objectives and provide an economic benefit to local economies."