Oireachtas Joint and Select Committees

Wednesday, 5 December 2018

Joint Oireachtas Committee on Climate Action

Third Report of the Citizens' Assembly: Discussion (Resumed)

2:00 pm

Photo of Richard BrutonRichard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

On the carbon tax, I am clear, as the Taoiseach is, that we need to have a trajectory of where the carbon tax will be in 2025 and in 2030 and a pathway to get there. The Taoiseach indicated that he was supportive of it, as was Deputy Eamon Ryan, the leader of the Green Party. The Taoiseach made the comment that it would be good if the committee as a whole reached consensus around a trajectory for it. Such a consensus would help its implementation. We all will be aware that some of these changes, although necessary, can be difficult to implement.

I have not commented on a specific pathway. The Deputy will probably be aware that the climate advisory committee indicated it would be €80 a tonne by 2030. The Secretary General of the Department of Public Expenditure and Reform talked of €100 a tonne in public service projects by the same date and indicated that this is likely to grow rapidly thereafter. It is an important signal, as I stated, to encourage decision-making.

There are local adaptation strategies being developed. These are due by 30 September 2019. Part of the work of the climate offices is to develop that. I must get the Deputy more detail on their work to date.

The new regulations are in respect of renovations. Where a home renovation constitutes more than 25% of the surface of the building envelope, one must have the entire building brought up to a higher energy performance standard. That is coming in on 1 April 2019.

My understanding is that the green bond is a public bond for public investments. There is a very substantial appetite for that sort of investment. The NTMA raised funding to the tune of €3 billion at a low coupon and it was very much oversubscribed. It is for State investments in the green area.

Comments

No comments

Log in or join to post a public comment.