I propose to take Questions Nos. 48 and 72 together.
The National Development Plan 2021-2030 committed my Department to reviewing certain elements of the Public Spending Code to improve the Government’s understanding of the relationship and impacts of investment decisions on the wider environment and climate. As part of this programme of works, my officials worked with the OECD, funded by the EU Commission through DG REFORM’s Technical Support Instrument, on two aspects of public capital expenditure appraisal requirements in Ireland.
1. The model for assessing the emissions impact of infrastructure investment; and
2. The appraisal of investments that may be vulnerable to the impacts of climate change.
Following extensive engagement with other Departments and stakeholders including an OECD fact finding mission in April 2022 and a workshop and diffusion event in January 2023, the finalised report on Strengthening Environmental Considerations in Public Investment Management in Ireland was published in July 2023.
My Department is in the process of finalising the new Infrastructure Guidelines, which we plan to publish before the end of 2023. The updated guidance will take into account the recommendations put forward by the OECD.
Over the longer term, as set out in the NDP 2021-2030, the Department will examine the role that the Infrastructure Guidelines can play in the achievement of broader environmental objectives and the role of the code in supporting the national commitment to achieving net zero greenhouse emissions by 2050.