Oireachtas Joint and Select Committees

Wednesday, 9 November 2022

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Current Issues Affecting Trade in Ireland: Enterprise Ireland

Mr. Leo Clancy:

It includes capital investment for decarbonisation. We are building on what were advisory and process supports around green and climate action to support capital investment on a broad basis. The capital investment could be in monitoring equipment for carbon, so that could involve installing something at a site that monitors carbon and gives a readout of where things stand, or for capital investment in decarbonisation up to €1 million of our support per project. There are significant supports that are available. We have seen 56 schemes approved since we launched in June. Overall, including the climate action and green vouchers and the other 56, we have seen 118 this year to date. We have a growing pipeline, but, in response to Deputy Bruton, it could be better. We could be doing more but it is a long journey. At a time when they have been focused on Covid-19, Brexit and Ukraine, it is hard to get people's attention. If there is one small bright side to the recent energy price increases that are stressing businesses, it is that the capital investment window for decarbonisation of enterprises has narrowed significantly, but for all the wrong reasons.

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