Oireachtas Joint and Select Committees

Tuesday, 21 March 2023

Joint Oireachtas Committee on Climate Action

Sustainable Development Goals: Discussion

Ms Sadhbh O'Neill:

I will be as brief as possible. Deputy Whitmore raised a very interesting point. It might be helpful to think about it not so much as individuals versus the system but, in a policy sense, in terms of whether we rely on market-based approaches or State regulation. When we look at the likes of the energy system, for example, the reality is that it is not possible to have it all one or the other. It is going to be a blend of the State regulating and providing essential infrastructure and long-term direction and strategy for the evolution of energy and electricity markets, while at the same time creating opportunities not just for private sector involvement to generate and supply electricity to the grid but also for our householders, consumers, farmers and businesses to do likewise. European electricity markets have gone through a series of radical reforms in recent decades. They are likely, however, to go through another round of considerable reform because of the way gas markets have influenced wholesale electricity prices.

I mention this as a way of pointing out that system change is going to happen and is happening already. The regulatory frameworks to support the electrification of transport, energy and buildings, etc., often lag behind what is required for us to achieve our targets. When we think about individuals versus systems change, therefore, the policy and regulatory frameworks and institutional capacities need to be fit for purpose. This comes back to the point made by Chambers Ireland concerning the offshore sector. If we cannot look ahead to the next ten, 20 and 30 years and ensure we have governance and legal structures that are fit for purpose as we electrify huge parts of our economy, then we will not be able to incorporate the renewable energy that is available to us. This will impact the achievement of other SDGs.