The Clare Champion Clare news, sport, entertainment and local notes
PROPOSALS to sell Coillte lands to an overseas investment fund in order to meet climate targets through afforestation have been described by Deputy Michael McNamara as “a bizarre construct”. Under the planned deal, thousands of acres are to be planted through the Irish Strategic Forestry Fund (ISFF) launched by Coillte and Gresham House. This aim is attract investors to plant as well as acquire forests across the country to meet Ireland’s climate targets. The Scariff-based TD launched a scathing attack on the deal. “It is a bizarre construct whatever way you look at it,” he said. “To give State funds earmarked for environmental measures to foreign investment companies to fund forestry practices that are not environmentally appropriate is just baffling.” He noted that once the crop is harvested, those profits will go back to funds based outside of Ireland. Deputy McNamara accepted that forestry does have the potential to store carbon and to have environmental benefits, but he was adamant …
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