Monday 6 April 2020

For Ireland to decisively address climate change more than €50 billion in public and private investment will be required over the next 10 years, according to estimates by the Irish Academy of Engineering.

Significant expenditure programme

The independent thinktank says that when established the new government must support this significant expenditure programme to fund ambitious policy initiatives, thereby ensuring that Ireland achieves its 2030 carbon dioxide (CO2) reduction targets.  

Academy members include many of the most experienced engineers and technologists in Ireland. Dr Gabriel J Dennison, chief executive of the academy, said: “Ireland has committed to reducing greenhouse gas emissions by approximately 25%, between 2020 and 2030.

 “However, to reach this target, the academy has calculated that in excess of €50 billion, equivalent to 2.5% of gross national Income, will have to be spent on plans and actions by all sectors if the state’s targets are to me met over the next 10 years.” 

Best prospect of achieving climate change targets

To inform discussion and encourage debate about the need for this €50 billion investment, the academy has produced a report titled, ‘Ideas for the Programme for Government’. It includes policy proposals which the academy’s members believe hold the best prospect of achieving climate change targets. 

“With the exception of the electricity and heavy industry sectors, at this stage it is difficult to envisage Ireland meeting its 2030 targets. That is why our members have produced this document, which includes ideas that we hope will be adopted by those TDs involved in government formation discussions,” added Dr Dennison.  

Recommendations

The following are some of the recommendations from within the document, which the academy would like to see included in the next programme for government:

• Funding for the provision of fast charging infrastructure to accommodate 1 m EVs by 2030.
• State-owned cutaway commercial bogs to be transformed from carbon emitters to carbon sinks though modest levels of capital investment.
• A significant switch to public transport and more fuel-efficient, low emission vehicles (e.g. electric/hybrid).
• All new builds will be passive standard.
• The provision of a “just transition” mechanism for the agricultural sector.

The academy’s ‘Ideas for the Programme for Government’ also includes observations and ideas about transportation, housing, enterprise, innovation and education, which the organisation hopes will be embraced by the next government.