Ms Karol Balfe:

I think we caution a high degree of wariness and scepticism about carbon credits. It is something we would urge the Irish Government not to do and not to look at because it is often associated with carbon offsetting and false solutions. We need to reduce the use of fossil fuels. We need to make the transition to renewables. We need to pay climate finance, including loss and damage, mitigation and adaptation. There are buckets of research we can share with the committee that show how problematic carbon credits are. I am very happy to do that.

In regard to foreign direct investment, it is one of the cases in Ireland that this economic model is such a part of our DNA and we are defending it against the tariffs and the Trumps. We have to have greater analysis of our foreign direct investment because there are parts of it that are absolutely job-providing and Ireland has benefitted from. There is no question about that. However there are parts where profits have been shifted, that have taken that money from global south countries and they are part of this extractive model where fossil fuel expansion is being channelled through Ireland and we would be very happy to bring that research to the committee and share it.