Dáil Éireann Debate, Thursday - 28 September 2023
111. Deputy Paul Murphy asked the Minister for the Environment, Climate and Communications if he is aware of a recent report from global NGO Corporate Accountability that found that a majority of carbon offset projects that have sold the most carbon credits are 'likely junk'; what implications this has for Ireland's emission reduction targets; and if he will make a statement on the matter. [41792/23]
View answerThe findings of the recent analysis carried out by Corporate Accountability, suggesting that there appears to be ‘fundamental failings’ undermining leading voluntary carbon offsetting schemes is disappointing and concerning. Voluntary carbon offsetting schemes can play an important role globally in tackling climate change. To be effective, it is essential that such carbon credits are directly linked to genuine emissions reductions that would not have occurred otherwise. It is necessary that any voluntary carbon market is verifiable, transparent, and environmentally sound.
In terms of the implications for Ireland meeting our emission reduction targets, it is important to note that voluntary carbon credits are not, and cannot be, used by Ireland to meet our legally binding emissions reduction targets.
EU Member States contribute collectively to their commitments under the Paris Agreement. The EU legislative framework provides for several compliance options beyond direct emissions reductions to enable Member States achieve their targets as efficiently and effectively as possible. This includes options to bank, borrow, and trade Annual Emission Allocations units derived from the Effort Sharing Regulation (ESR) itself – but does not include the option of using external or voluntary carbon credits.
Government policy remains to comply with EU targets through direct emissions reductions and, if necessary, to avail of the other compliance options available under the ESR. Climate Action Plan 2023 sets out the necessary additional policies and measures that Ireland must take to meet these emissions reductions targets and Government Departments will continue to prioritise climate action and full implementation of Climate Action Plan measures.
