Oireachtas Joint and Select Committees

Wednesday, 13 March 2019

Committee on Budgetary Oversight

Scrutiny of European Commission Country Report Ireland 2019 and European Semester

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party)
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I am a Green Party member and the European institutions have done a very good job on the 2030 climate package, the governance structure and shared targets. Mr. Martínez Mongay is right to say, and the Irish Fiscal Advisory Council has said the same, that one of Ireland's big fiscal risks is not meeting our climate targets. The council estimated it as high risk with high impact. If the witness does not have the information to hand, will he report back to us within our semester system as to what the Commission's best estimate is for the fiscal risk to Ireland from 2025 to 2030, based on current projections for climate emissions? As part of our own process in assessing our national energy and climate action plan under the governance rules, it would be very useful to have a Commission estimate of the level of compliance costs, not merely fines but also the use of credits and other mechanisms. Can Mr. Martínez Mongay give me a best Commission estimate for the risk over the next ten years?