Dáil Éireann Debate, Tuesday - 26 September 2023
332. Deputy Darren O'Rourke asked the Minister for Housing, Local Government and Heritage the progress to date on his Department's review of current and future taxation and levy policies, regulations and incentives to assess their impact on biodiversity; and if he will make a statement on the matter. [41010/23]
View answerThe National Parks and Wildlife Service of my Department co-funded a research project with the Irish Research Council which will result in a Financial Needs Assessment for Biodiversity. Part of this research identified solutions for biodiversity including: biodiversity offsets, biodiversity friendly subsidies and certification, carbon credits, carbon tax, community based natural resources management, corporate taxes, levies and contributions, easements, green and impact bonds, green lending and wildlife permits and penalties. The main area of the research was to determine the financial needs for biodiversity.
The draft EU Nature Restoration Regulation is currently under negotiation and aims to restore at least 20% of the EU's land and sea areas by 2030 and repair all ecosystems in need of restoration by 2050. The research to date on the Financial Needs Assessment for Biodiversity will be revised, if required, to take into account targets associated with the Regulation, once they have been finalised.
