Oireachtas Joint and Select Committees

Tuesday, 18 June 2019

Committee on Budgetary Oversight

Budgetary and Fiscal Implications of Climate Change: Discussion

Photo of John LahartJohn Lahart (Dublin South West, Fianna Fail)
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That is grand. There is no costing for it. I am just asking as a member of the Committee on Budgetary Oversight. With regard to the cost of missing targets, as members of this committee we have received a briefing that states the Department of Finance has indicated Ireland is at risk of being subject to fines of €600 million annually from 2021 if targets are not met. It suggests Ireland could be subject to €6 billion in fines between 2021 and 2030. In his contribution, Mr. Maughan has said Ireland is required under EU rules to reduce emissions . Current EPA projections indicate relevant emissions could remain at between 0% and 1% below 2005 levels, which are the levels required, by 2020. This would mean there would be no fines.