Dáil Éireann Debate, Tuesday - 24 July 2018
427. Deputy Barry Cowen asked the Minister for Public Expenditure and Reform the way in which the State will pay fines accruing if Ireland fails to meet its targets under the Paris Agreement; the cost of those fines; and if he will make a statement on the matter. [34184/18]
Amharc ar fhreagraThe primary aim of the Paris Climate Agreement is to hold the increase in the global average temperature to well below 2 °C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels. The agreement does not specify any emissions reduction targets for individual parties to the agreement and there are no fines within the agreement.
However Ireland, in common with all EU Member States, has signed up to deliver its contribution to the Paris Agreement through the EU’s Intended Nationally Determined Contribution. This commits the EU to collectively delivering a reduction in emissions of at least 40% by 2030 against 1990 levels. The Effort Sharing Regulation translates this commitment into binding annual greenhouse gas emission targets for each Member State for the period 2021–2030. Ireland’s share of this overall EU target has been set at a 30% reduction in national emissions by 2030 against 2005 levels.
To ensure that these targets are fair and can be achieved in a cost-effective manner, the Effort Sharing Regulation permits Member States some flexibilities. Member States can cover some emissions with EU ETS allowances which would normally have been auctioned, they can access credits to account for carbon capture in the land-use sector to account for the fact that there is a lower mitigation potential for emissions from the agriculture sector. Member States can also bank forward surpluses to use in later years or borrow as limited number of allocations from the following year to deal with annual fluctuations in emissions due to weather or economic conditions. Finally, Member States can also buy and sell allocations from and to other Member States. As the EU Commission itself notes, this is an important vehicle to ensure cost-effectiveness as it allows Member States to access emissions reductions where they are the cheapest to achieve.
Co-ordination of the national approach to achieving Ireland's emissions reduction target is, in the first instance, a matter for my colleague the Minister for Communications, Climate Action and Environment. However, my Department remains in close contact with the Minister’s Department in relation to any Exchequer implications arising out of compliance with this target.
The Deputy will note that the Government recently demonstrated its commitment to addressing climate change with an unprecedented €22 billion capital funding allocation for climate initiatives over the next decade as part of the National Development Plan (NDP). This will be complemented by a further €8.6 billion investment in sustainable mobility measures. This commitment marks a step change in public investment on climate action and will demonstrate that Ireland is serious about meeting our climate commitments.
