The number of people working in the international financial services in Ireland increased by 2,800 last year to 52,800.
Launching the Finance Action Plan 2022, minister Seán Fleming (pictured) said a record number of people are now employed in the sector.
Some 11 priority measures are outlined in fourth annual action plan, created as part of the Ireland for Finance strategy, across five key themes: sustainable finance: fintech and digital finance; diversity and talent; regionalisation and promotion; and operating environment.
The action plan states that the government's main goal in terms of sustainable finance is implementing the Sustainable Finance Roadmap, published in November 2021, which includes the establishment of an International Sustainable Finance Centre of Excellence.
Other key actions include accelerating access to sustainable finance knowledge and skills, establishing a public-private climate and sustainable finance group, and assessing the viability of a climate funding platform in Ireland.
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The plan also calls for the development of a sustainable finance strategy for fintech, and the deliverance of a coordinated public-private campaign to promote Ireland as a centre for sustainable finance.
In the fintech and digital finance space, the action plans commits to the implementation of the second phase of work for the Department of Finance's fintech steering group.
The membership of the steering group will be expanded to include officials from other departments and agencies, and a working group including representatives from the financial service and IT sectors and third-level researchers will be established later this year.
The CCPC will also develop educational resources for consumers engaging with fintech, and Instech.ie will take the lead in efforts to promote Ireland as an EU hub for insurance tech companies, with Enterprise Ireland running events in key export markets to promote Irish fintech, and the DoF promoting Ireland as a centre for fintech internationally.
In terms of diversity and talent, the plan allows for the creation of a women in finance charter to help firms devise commitment to promote gender diversity; a study by the Expert Group on Future Skill Needs on the international financial services sector; and a Financial Services Ireland review of the IFS apprenticeship programme.
"I am delighted with the success that Ireland for Finance has delivered to date and to maintain the growth we will be carrying out a mid-term update of the strategy," Mr Fleming stated.
