Oireachtas Joint and Select Committees

Tuesday, 8 March 2022

Joint Oireachtas Committee on Climate Action

Energy - Ambition and Challenges: Discussion (Resumed)

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent) | Oireachtas source

I am a little concerned by what I have heard about the taxonomy, which is about climate tagging. It is not about whether gas or nuclear power exist or are invested in, but whether we are tagging them as climate renewable and sustainable. On their attempted inclusion, the European Investment Bank has said it will not accept it. Many institutional investors of more than €50 trillion, I think, in investment funds, have said they will not recognise that. Ireland should not be agnostic on this issue. It is about the credibility of investment in this area and the rerouting of it. We should move from being agnostic to being believers in really pushing green hydrogen and renewable energies such as wind energy and wave energy, which we heard about from earlier witnesses. If Ireland is in a neutral position on this, we should champion this because there are tensions between continuation of gas and green hydrogen. Germany now has a green hydrogen strategy. If we could just come to where Ireland could get ahead of industry in this-----

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