Seanad debates
Wednesday, 12 June 2024
Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages
10:30 am
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
I thank Senator Higgins for these amendments and the work that clearly has gone into them. Several of them were discussed on Committee Stage.
In response to amendments Nos. 4 to 6, I would like to make a number of points. The main point to consider is that a finite amount of resources are being deployed from the fund. Adding further objectives would dilute its impact in the existing identified areas.
The infrastructure, climate and nature fund, valued at up to €3.15 billion, aims to support projects that directly or indirectly contribute to objectives related to climate change, nature, water quality and biodiversity. The goals were identified in collaboration with several Departments, namely, the Departments of the Environment, Climate and Communications, Housing, Local Government and Heritage and Public Expenditure, National Development Plan Delivery and Reform.
With regard to specific objectives proposed by the Senator, there is a much work being done in relation to each of these areas already. The fund is not the sum total of the Irish State’s efforts regarding climate and nature.
I note that the Minister of State, Deputy Richmond, provided a comprehensive overview of the State’s work to support the UN SDGs, climate justice and just transition, so it is probably not fully necessary to reiterate those points.
As regards the climate and nature part of the infrastructure, climate and nature fund, the intention is to support positive climate actions, assist in preventing the degradation of the natural environment, including rivers, lakes and oceans, and assist in preventing a reduction in biodiversity. There is important work to be done in this area and it would be inappropriate to dilute the funding further to provide for other initiatives.
A range of measures are currently being implemented to address the measures raised by these amendments. There is a finite amount of resources being deployed from this fund, and adding more measures could dilute its impact in the existing identified areas. On this basis, I cannot accept these amendments.
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