The Minister for Agriculture, Food and the Marine, Charlie McConalogue is likely to come under further pressure this week as questions mount over Coillte’s forestry deal with UK-based investment fund Gresham House.
The Gresham House forestry fund is expected to be one of the key issues for discussion at a meeting of the Joint Oireachtas Committee on Agriculture, Food and the Marine on Wednesday (January 23), which will also be attended by Minister of State with responsibility for forestry, Pippa Hackett.
However, Minister McConalogue could also face further questions from his party colleagues in relation to the deal at the Fianna Fáil parliamentary party meeting on Wednesday (January 23).
Concerns have been raised by a number of TDs about the agreement, which could potentially see Gresham House receive state grants for forestry projects.
Speaking to Agriland, Fianna Fáil TD Jackie Cahill said that anyone he has spoken to about the forestry deal within the party feels that it “leaves a sour taste in the mouth”.
“All Gresham House is interested in here is giving a return to their investor, they’re not interested in climate change. So, I have some serious questions to ask about it.
“We might get more trees planted from it but at a very significant cost.
“I can’t see why we have to resort to private investment funds to meet the targets under afforestation,” he added.
Last Friday (January 20), it emerged that ministers in the Department of Agriculture, Food and the Marine (DAFM) were aware of a proposed agreement between a private investment fund and Coillte since early last December.
In a briefing to the Oireachtas Committee on Agriculture, Food and the Marine, senior Coillte executives had updated members on their operations and disclosed that this had included engagement “with a number of different fund managers”.
Numerous TDs and backbenchers have outlined their opposition to the arrangement during recent Dáil debates, with Sinn Féin TD Matt Carthy stating that the government is “failing drastically” when it comes to forestry.
He has labelled the deal a “land grab” and called for the department to intervene immediately.