Mr. Seán McCabe:

I will give my two cents worth first. The cost of capital will be important in realising the transition. It is a capital intensive process. It would be a no-brainer for the new fiscal rules to exempt investment in green infrastructure. I would go one step further. How we use capital that we borrow for these purposes and the extent to which we can put the productive assets of climate action into the hands of communities, or community control, will be enormous. To illustrate this point - this is important because numbers help - in Fintry, Scotland, following a protracted negotiation the community was given one turbine out of 15 that were being built locally. This is ownership. It is not a once-off payment; it is ownership. The community is currently earning between £30,000 and £50,000 per annum from that turbine. Once the loan for the turbine is paid off, which loan was given to the community by the private contractor, the earning for the community will increase to £400,000 per annum. In terms of an asset for local development, that is phenomenal. If we borrow to invest, which we should, it should work in a way that will enhance local development as well as our climate action, otherwise, as Ms Samsonova said earlier, we will never realise the social approval necessary to drive this over the line. We need communities to see tangible benefits.