Dáil Éireann Debate, Wednesday - 29 November 2023
17. Deputy Mattie McGrath asked the Minister for the Environment, Climate and Communications if the ground transport, heat and electrical sector generation, transmission, and distribution have been fully factored into both the 2030 and 2050 climate action targets; if so, to provide detailed financial assumptions for each, including how they will be funded; and if he will make a statement on the matter. [52676/23]
View answerThe Climate Action and Low Carbon Development (Amendment) Act 2021 set out legally-binding emissions reduction targets for Ireland to reach by 2030 and 2050. Ireland is now required to reduce its greenhouse gas emissions by 51% by 2030, relative to 2018 levels, and to reach net-zero emissions no later than 2050. The Climate Act also introduced a strengthened climate governance framework with requirements to prepare and implement carbon budgets and sectoral emissions ceilings. The adoption of these 5-year budgets and the sectoral emissions ceilings gives greater clarity on the need for ambitious emission reduction pathways, disaggregated on a sectoral-basis to meet our 2030 and 2050 targets. In line with the Climate Act, the sectors listed by the Deputy are included in the carbon budgeting process.
The underlying analysis within Climate Action Plan 2023 (CAP 23) included an estimate of circa €119 billion in incremental and redirected capital investment in low-carbon technologies and infrastructure for the period 2022 to 2030 to support the achievement of our emissions reduction targets. However, the total costs will be dependent upon the various policy pathways selected as we further develop and implement our climate action plans and long term strategies. CAP 23 does not set out investment requirements for each sector, this is a matter for detailed policy design in each sector.
The required investment for 2050 is not yet defined and will depend, inter alia, on technological developments, and carbon budgets in place by the Oireachtas over time.
