Sustainability, energy efficiency and decarbonisation should now be integral to the strategic planning of all businesses. In 2021, my Department provided €10 million in funding through the Climate Enterprise Action Fund to help businesses in their carbon abatement strategies and to prepare for new areas of economic growth founded on sustainability, innovation and productivity.
Provision was also made in Budget 2022 for establishing the Green Transition Fund, as part of Ireland’s National Recovery and Resilience Plan, to assist in the ongoing carbon abatement in the enterprise sector and building further capacity to address emerging climate change issues. My Department, through our agency Enterprise Ireland, launched the Green Transition Fund in June 2022. Over the period 2022-2026 a total amount of €55 million has been allocated to this fund including €10 million for 2022 and a further €6 million for 2023.
The table below outlines funding allocations to EI for climate action initiatives for the years 2021, 2022 and 2023.
Year
|
Climate Enterprise Action Fund
|
Green Transition Fund
|
2021
|
€10 million
|
|
2022
|
|
€10 million
|
2023
|
|
€6 million
|
Total
|
€10 million
|
€16 million
|