The Elephant In The Forest Asset Sale Debate

Wednesday March 13, 2013 21:52

by T

WOODLAND LEAGUE PRESS RELEASE FEB 25th 2013 For immediate release.

The Woodland League wish to highlight the fact that Coillte since 2009 have already sold 108 million euros of trees with harvesting rights, to IFUT ( Irish Forestry Unit Trust ) a pension fund company, of which they are partners. In a bizarre situation, Coillte have used these proceeds to pay off some of its own large pension fund debts. The National Pension Reserve Fund has also been used by IFUT to fund these sales and its contribution obscured within IFUT’s bail out of Coillte. This is not how this vital Public NPRF funding should be used, it is supposed to be invested in the peoples future. http://www.nprf.ie/Publications/2011/NPRFReport2010.pdf

Interview of Andrew St. Ledger of Wood Land League outside Dail prior to motion on sale of Coillte assets

Coillte are also partners in IFUT using 15 million punts worth of Public forests in 1994 for their equity share, this major transfer of Public assets occurred without any accountability or Public consultation. Coillte have sold 40,000 acres of Public forests since its inception in 1989, privatizing Public assets has been part of its modus operandi. IFUT is the home of most semi state company pension funds, like the ESB, and Bord Gais, IFUT is in effect a vehicle being driven by a Public company facilitating Public servants to buy Public assets from the same Public company.

The Woodland League believe this issue should be debated as part of the upcoming Dail motion on wednesday 27th February against the sale of Coillte harvesting rights.

Andrew St Ledger, spokesperson of the Woodland League, commented “ There are too many unanswered questions arising from this latest outrageous transfer of Public assets, which has been conducted under very dubious circumstances. It is a continuation of the Haughey/Ahern stroke politics agenda we are told is in the past. This is an affront to the Irish people who should be the beneficiaries of these assets which could help to offset the burden of austerity they have to carry ”.

In “The economics of Irish Forestry”, a book written by Professor Peter Clinch in 1997, it points out that the Strategic goal of the 1996 Strategic forestry plan is to develop forestry to a scale and in a manner which maximises its contribution to National well being on a sustainable basis and which is compatible with the protection of the environment. It would appear the objectives of this plan which is a fundamental part of Coillte's remit have gone way off course. St Ledger went on to say,“ Public servants through their pension funds are buying up Public assets using IFUT to feather their own nest, as if this resource was theirs to take and use which ever way they like”.

Why was there no public tendering or consultation regards the forests and harvesting rights sold to IFUT ?

What were the terms and conditions attached to these sale agreements ?

Why was there no Dail debate regarding these large transactions involving Public asset sales to Public servants ?

Why has no one enquired into the blatant conflict of interest which is clearly at play in regards to Coillte acting as seller of Public assets and buyer of same assets ?

The Woodland League repeats its call made in December 2012 and echoed in the Oireachtas for a full Public Enquiry into the affairs of Coillte with a suspension of all forest asset sales and other plans regards Coillte pending the outcome of the Enquiry.

http://www.woodlandleague.org/pressreleasedec18.pdf

ENDS

For more information Contact Andrew St Ledger 0879933157.

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The Elephant In The Forest Asset Sale Debate