Oireachtas Joint and Select Committees

Friday, 12 July 2013

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht

Heads of Climate Action and Low Carbon Development Bill 2013: Discussion (Resumed)

10:20 am

Photo of Gerald NashGerald Nash (Louth, Labour)
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In 2011 and 2012 there was a great deal of discussion about Ireland's potential to create green finance jobs. I recall a figure of 7,000 jobs being mentioned in this regard by the previous Government. Are we on target to reach our potential in this regard? What kind of green financial services products might we develop in this country which is a financial services hub and possesses the necessary skills and expertise?

On access to finance and credit in order to resource young companies which are developing exciting green and clean technology initiatives, I am concerned that the pillar banks really do not get it and do not understand how the sector is evolving. I may be wrong, but it is just a hunch I have. Does Mr. O'Flynn share my concern? We must ensure there are lines of credit open to young innovators who are developing really exciting technology if we are to meet our targets, export some of the skills we possess, etc.