Mr. Oliver Gilvarry:

The banking system has a role to play in green finance and we have seen that more on the mortgages side with building energy ratings, for example. The Deputy mentioned the credit unions and retrofitting and we might get further details tomorrow in the Housing for All strategy on the retrofitting of housing. It is being touted that 500,000 houses will be retrofitted over the period of the strategy.

We are seeing more happening at a European level on the circular economy and there is a greater push on that. Different supports are being provided by the LEOs and EI and a number of those would be targeted at the smaller businesses. This has to become more of a focus because of what I said about the supply chain earlier. Either the suppliers of a business or those being supplied by it will ask the business what it is doing and what it can do in that area. There is a role for the banking system in this and it is fulfilling that role. A portion of that is being driven at European level such as advantageous capital requirements because money is being loaned for green projects. We will see more of that coming through under this Commission and the existing support schemes from the LEOs and EI will help businesses to adjust but let us see what is announced tomorrow.