Central Bank commits to socially responsible investing

Under the terms of its new sustainable investment charter, the Central Bank will incorporate ESG considerations into its processes for screening potential investment assets. Photograph: Alan BetsonThe Central Bank of Ireland has said it will apply sustainable and socially responsible investment principles to its own investments, committing to a new sustainability charter that will exclude companies from certain “controversial” sectors.

The regulator said it would use “negative screening” to weed out and “systematically exclude” controversial companies and sectors from its portfolio. But “regardless of the nature of external equity management arrangements in place” the Central Bank said it retained “ultimate responsibility” for the principles it applies to its investment assets.

Separately, figures released by the Central Bank on Thursday reveal that the value of Irish credit and debit card spending, including ATM transactions, rose to a new record high of €8.5 billion in May. Total card spending jumped 12 per cent between April and May, according to the data, “predominantly driven” by a large increase in ‘point of sale’ spending, which jumped 26 per cent from May 2021 to €7.3 billion last month.

Oh great more ESG Globohomo rules...

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