Tuesday, 19 February 2019

Ceisteanna (527)

John Curran


527. Deputy John Curran asked the Minister for Communications, Climate Action and Environment the steps he is taking to give investors a clear indication of Ireland’s commitment to the Paris Agreement; and if he will make a statement on the matter. [8232/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Communications)

In order to meet Ireland’s target for 2030 that we will reduce emissions in the non-ETS sector by 30%, and building on the framework put in place by both the National Mitigation Plan and the National Development Plan, I am currently developing an All of Government Climate Plan which will set out the actions which must be taken in every Government Department and Body. The central ambition of this plan will be to make Ireland a leader in responding to climate change. I am working with colleagues across Government to develop new initiatives across electricity, transport and heat, as well as a range of other sectors.

The All of Government Plan will have a strong focus on implementation, including actions with specific timelines and steps needed to achieve each action, assigning clear lines of responsibility for delivery. It will also be informed by successful approaches in other countries, where such approaches could be adapted for implementation in Ireland.

The All of Government Plan will build on the recognition in both the National Mitigation Plan and the National Development Plan of the role of the private sector in supporting Ireland's transition towards a low-carbon and climate resilient society. This low carbon transition brings with it economic opportunities, and the private sector has an important role in investing in decarbonisation in Ireland, either on its own initiative or in parallel with public sources of funding.

The successful launch by the National Treasury Management Agency on 10 October 2018 of Ireland’s first sovereign green bond with a value of €3 billion is indicative of the level of investor interest in financing policies to promote the low carbon transition in Ireland.

The decarbonisation trajectory I intend to set Ireland on to 2030 will send a clear signal to the private sector and to investors, driven by national policies which provide the necessary enabling framework and act to stimulate private investments at the scale required to achieve our decarbonisation objectives.