Oireachtas Joint and Select Committees

Tuesday, 24 October 2023

Joint Oireachtas Committee on Climate Action

Citizens Assembly Report on Biodiversity Loss: Discussion (Resumed)

Mr. David Owens:

Again, if our colleagues from the Department of Public Expenditure, National Development Plan Delivery and Reform were here, they could probably answer but I cannot.

I can talk a bit about the infrastructure, climate and nature fund and why it goes from 2026 onwards. At the moment we are in the first carbon budget period, which will finish at the end of 2025. The second period starts from that point and that is when it could potentially come into play. We have a hard legal 51% emissions target for 2030. If we were still struggling with our emissions reduction in the second part of the decade, this money could begin to be used to try to address that. It is taking some money off the table now and placing it there to be drawn down if and when it is needed.

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