Dick Roche (Wicklow, Fianna Fail)

Underlying the Deputy's question is the fact that some dodgy forms of credit are available on the market. There is, in some of the declining eastern economies, what is known as "hot air". As Deputies will be aware, it is also generated in the House on occasion. The National Treasury Management Agency will not be involved in the purchase of this or of nuclear generated credits.

It is interesting that the debate is opening up to a discussion on how carbon credits will be used. Carbon credits could be phenomenally positive and have a significant impact on developing and transitional economies. They could revolutionise living for people in sub-Saharan Africa, a region with no energy and credits to sell. The ethical application of the carbon fund will have beneficial effects in addition to helping Ireland meet its targets.

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