Seán Fleming TD, Minister of State at the Department of Finance with special responsibility for Financial Services, Credit Unions and Insurance has published the 2021 progress report of the Ireland for Finance Strategy.
The progress report comes as the Minister finalises an update of the Ireland for Finance strategy. The consultations on the updated strategy focused on fintech, sustainable finance, diversity and talent, regionalisation and promotion and operating environment.
The Government decided to update the Ireland for Finance Strategy following strong jobs growth in Fintech and Sustainable Finance sectors. There is now a record high level of employment in the financial services sector, employing more than 52,000 people. Since the establishment of the Government, more than 5,000 new financial services jobs have been created. One third of all international financial services jobs are located outside of Dublin.
Some notable achievements in the 2021 progress report of the Ireland for Finance strategy, include:
- Developing and launching a national Sustainable Finance Roadmap
- Launching Ireland’s Women in Finance Charter. This joint public-private initiative sets yearly targets for financial services companies to increase the number of women in senior management and on the Board
- Promoting Ireland as a destination of choice for financial services at a number of high profile events
- Promoting people to consider a career in financial services through the initiative ‘A Career less Ordinary’ with the 30% Club.
The progress report 2021 was launched at the 6th Task Force on Climate Related Financial Disclosures (TCFD) event held in AIB, Molesworth Street. The TCFD is an industry-led initiative to strengthen companies’ ability to report on the risk of their operations to climate change. This gives companies better information to support ethical investment.
Speaking at the launch in AIB, Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Seán Fleming TD, said:
“Ireland is emerging as a leader in new financial technologies and as a European centre for sustainable finance. In recognition of this success, I am finalising an updated Ireland for Finance strategy, which I will issue in the near future. This will build on our work and further Ireland’s ability to attract high value jobs and decarbonise our economy. This means the lifetime of the Strategy will be extended to 2026 to support the Government’s ambitious growth plan.”
The event was part of a campaign to encourage greater take up of the Task Force on Climate Related Financial Disclosures. It featured David Carlin, the UN Secretary-General's Special Envoy for Climate Ambition & Solutions. Over 35 organisations based in Ireland have signed up to the TCFD programme as part of a campaign launched in 2020 as part of the Ireland for Finance strategy.
Note for editors
About the Ireland for Finance strategy
International Financial Services Strategy 2025 – Ireland for Finance
In April 2019, the Government of Ireland launched Ireland for Finance, its whole-of-Government strategy for the further development of the international financial services sector in Ireland to 2025. The vision of the Strategy is for Ireland to be a top-tier location of choice for specialist international financial services. In response to an acceleration in the trends that are driving employment growth, such as Fintech and Sustainable Finance, a mid term thematic update has been carried out. A series of focused engagements with industry representatives and Government Departments and agencies to research the emerging trends in the sector, both at home and abroad.