Jim O'Keeffe (Cork South West, Fine Gael)
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Question 115: To ask the Minister for the Environment, Heritage and Local Government the details of the proposed purchase by Ireland of additional allowances through the Kyoto Protocol flexible mechanisms; and the cost of same over the commitment period 2008 to 2012. [22674/07]

John Gormley (Dublin South East, Green Party)
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The Government has designated €270 million for the purchase of carbon allowances over the period 2007-2013. This sum is in addition to €20 million provided in my Department's Vote in 2006.

Following the enactment of the Carbon Fund Act in March 2007, the National Treasury Management Agency is now statutorily designated as the Government's purchasing agent for the acquisition of carbon allowances. The Agency is developing a purchasing programme on foot of the Government commitment that the State will purchase up to 18.035 million allowances in partial fulfilment of the State's obligations pursuant to the Kyoto Protocol. A national policy framework on the purchase of allowances, which is set out in Annex 3 to the National Climate Change Strategy 2007-2012, provides guidance for the Agency in this regard.

In 2006, Ireland committed to investing €20m in the Multilateral Carbon Credit Fund offered by the European Bank for Reconstruction and Development, and a further €20m in Funds offered by the World Bank, namely the Carbon Fund for Europe and the second tranche of the BioCarbon Fund. No other commitments were made prior to the designation of the National Treasury Management Agency as purchasing agent. I also refer to the reply to Question No. 102 on today's order paper.