Dr. Ivana Capozza:

I thank the Chair for her question. We have not quantified the fines that Ireland could pay as TASC has done, but there is a risk of not meeting the 2030 targets under the EU policy framework, namely, emissions that are outside the emissions trading system, ETS. We understand from the Environmental Protection Agency's simulations and projections that there is a need to implement all measures outlined in the Climate Action Plan just to achieve some of the targets. There would still be a need to use the international carbon market. That would be a cost, albeit possibly not as much as paying the fine. There is a need to implement in a timely and thorough way all of the measures that have been outlined. In fact, more than those measures must be implemented, given the increased ambition of going beyond the targets set at EU level, but the fines would only relate to the targets set at EU level.

There is a risk of being penalised. That should be considered as part of the overall cost of inaction. The main cost of inaction is not the fine, though, but the consequences for the Irish economy and Irish people. That cost can be quantified, of course, and the quantification to date has outlined a huge cost to people's quality of life.