Frank Feighan (Sligo-Leitrim, Fine Gael) | Oireachtas source

I thank Senator Boylan for raising this very important issue. I listened with interest to the points she raised. The Government will continue to monitor the issue of greenwashing to allow businesses and consumers to make informed choices. The CRU plays a very important role in ensuring that electricity companies are transparent on the source of their electricity through the publication of their annual fuel mix information paper and through the requirement that electricity suppliers publish their own fuel mix on all bills issued to customers.

As we aim for a climate-neutral economy by 2050, the low-carbon transition has become a defining force for business. For Irish companies, this means opportunities to compete and grow as global investment in a greener future accelerates. Enterprises that make the move early to reduce their carbon footprint will be more resilient to climate change impacts, including the rising costs of mitigation against transition risks such as policy changes, reputational impacts, shifts in customer preference and evolving supply chain requirements. Businesses that take action to mitigate the risks of climate change and those with environmental credentials can benefit from increased access to environmentally conscious customers, markets and workers; green equity and loan funding; and support from local communities. The European Commission proposal in April 2021 to amend the non-financial reporting directive and to introduce a corporate sustainability reporting directive was welcome. The Department of Enterprise, Trade and Employment is engaging with the EU regarding these developments.

Companies giving a false impression of their environmental impacts or benefits make it difficult for businesses and consumers to make informed decisions and increase the uncertainty about how to best tackle the climate crisis. The 2009 internal market in electricity directive contained a provision, which, following transposition into Irish law, required the CRU to ensure electricity suppliers provide reliable fuel mix information on all bills and promotional materials issued to customers. The 2019 internal market in electricity directive underpins the fuel mix disclosure. The CRU publishes an annual information paper setting out the fuel mix disclosure and the CO2 emissions for suppliers licensed in Ireland and operating in the single electricity market. It includes an all-island fuel mix.

Electricity suppliers publish their own fuel mix information, as well as the all-island information, on all bills no later than two months after the publication of this information paper. This provides consumers with information on the recent environmental impact of electricity from the supplier compared with the all-island average. A supplier's fuel mix information must be presented on bills in accordance with certain requirements. Where fuel mix information is presented on the back of a consumer bill, reference must be made to it on the front of the bill. CO2 information should be given in units of grams of CO2 per kW. In addition to fuel mixed disclosure requirements, the CRU's decision paper on the regulation of green-sourced products in the electricity retail market governs the display of fuel mix information for suppliers who offer green-sourced products.Suppliers may use a guarantee of origin certificate, which is an instrument defined in the renewable energy directive that certifies that electricity is generated from renewable energy sources. In relation to advertising promotion products, suppliers should also follow the CRU's code of practice on marketing and advertising from the suppliers' handbook.