Dick Roche (Wicklow, Fianna Fail)

The national climate change strategy sets out Ireland's approach to meeting its target for the purpose of the Kyoto Protocol, which is to limit the growth in greenhouse gas emissions to 13% above 1990 levels in the 2008 to 2012 commitment period. It was projected that, in the absence of any measures to address the problem, Ireland's emissions in that period could be some 37% above 1990 levels. The target relates to the average for the Kyoto Protocol commitment period 2008 to 2012 and is not defined on an annual basis.

In 2003, the latest year for which figures are available, Ireland's emissions were approximately 25% above the 1990 level. This figure is down from 31% in 2001 and 29% in 2002. This progress is satisfactory but rapid growth in the economy is nonetheless placing an upward pressure on our greenhouse gas emissions and requires us to intensify efforts to bring about the required reductions.

The latest available projections of greenhouse gas emissions for the 2008 to 2012 commitment period suggest that, in the absence of any additional measures, the estimated gap, that is, the distance to the target will be approximately 8 million tonnes of carbon dioxide per year. The Government is acting to close this gap in three ways. A proportion of the required reduction will be allocated to Irish participants in the EU emissions trading scheme. Following a review of the national climate change strategy, the Government will bring forward further measures to secure reductions across the rest of the economy. The Government will avail of the mechanisms in the Kyoto Protocol which allows it to meet its obligations by purchasing credits for carbon reductions elsewhere in the world.

The Government has also signalled its intention to purchase up to 3.7 million allowances for each year of the Kyoto Protocol commitment period. On the basis of an assessed average price of €15 per carbon allowance during the period 2008 to 2012, the total annual cost to the Exchequer would be €55.5 million. The ultimate cost to the Exchequer will depend on the final purchasing requirement and the price of carbon when the credits are purchased. As the figures are projections covering the period from 2008 to 2012, it is impossible to state exactly what the figures will be then.

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