Darren O'Rourke (Meath East, Sinn Fein)
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220. To ask the Minister for Enterprise, Trade and Employment how the sustainability loan scheme is being implemented to fund biodiversity initiatives; the number of successful applicants sought to address biodiversity, in tabular form per year since the schemes inception and in Q1, Q2 and Q3 2023. [41004/23]

Simon Coveney (Cork South Central, Fine Gael)
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The Growth and Sustainability Loan Scheme is a long-term loan guarantee scheme jointly developed by my Department and the Department of Agriculture, Food and the Marine. The scheme is underpinned by resources from the European Investment Bank Group and delivered by the Strategic Banking Corporation of Ireland.

The €500 million Growth and Sustainability Loan provides longer-term lending to SMEs, including farmers and fishers and small mid-caps. Loans of between €25,000 and €3 million, with terms of up to 10 years and attractive terms and conditions, are available through the scheme to eligible SMEs through participating finance providers, with loans of up to €500,000 available unsecured.

The scheme will target a minimum of 30% of the lending volume towards environmental sustainability purposes with the aim of encouraging SMEs to take positive actions in support of the climate change agenda. Up to 70% of lending will be for strategic investments with a view to increasing productivity and competitiveness and thus underpinning future business sustainability and growth.

Loans for climate action and environmental sustainability purposes will also benefit from an additional interest rate discount.

The terms of the scheme allow for biodiversity initiatives including the provision of loans which contribute to sustainable circular bioeconomy and fostering sustainable development and efficient management of natural resources such as water, soil and air, including by reducing chemical dependency. In addition, the scheme can provide loans which contribute to halting and reversing biodiversity loss, enhancing ecosystem services and preserving habitats and landscapes. Further information on eligible activities can be found at the link below:

sbci.gov.ie/uploads/general/GSLS-Climate-Action-and-Environmental-Sustainability-Use-Case-Document-Measures-FINAL-BORROWER1.pdf.

As the scheme just launched on 19September 2023 with the first on lender Bank of Ireland, the data requested by the Deputy are not available.

A number of other lenders, including non-bank lenders, are expected to take part in the scheme in the coming months.

The Growth and Sustainability Loan Scheme will operate until 30 June 2026 or until the scheme has been fully subscribed (whichever is earlier).

Darren O'Rourke (Meath East, Sinn Fein)
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221. To ask the Minister for Enterprise, Trade and Employment his plans to introduce a framework whereby corporations and large businesses can help to address nature conservation and the restoration of biodiversity; and if he will make a statement on the matter. [41005/23]

Simon Coveney (Cork South Central, Fine Gael)
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I and my Department have engaged in planning for a concentrated and coordinated cross-Government approach to driving business engagement with biodiversity. The Deputy may be aware that detailed work on Ireland’s fourth National Biodiversity Action Plan has been the subject of significant effort over the last two years by Government Departments, led by the Department of Housing, Local Government and Heritage, with the support, advice and input of the Biodiversity Working Group and Biodiversity Forum. I expect that this Action Plan will be reviewed and approved by Cabinet and published shortly.

I also want to note and acknowledge the good work done and evident in the recent reports and recommendations of the Citizens’ Assembly on Biodiversity Loss, which I believe Government can substantially address through implementation of the forthcoming National Biodiversity Action Plan.

‘Business for Biodiversity Ireland’ is the key stakeholder platform for businesses to engage with, its lead by Natural Capital Ireland with seed funding provided by Department of Housing, Local Government and Heritage, and the Department of Agriculture, Food, and the Marine. The platform is further supported by The National Biodiversity Data Centre (NBDC) and Business in the Community Ireland (BITCI). The platform is intended to drive the transition to a nature positive Irish economy, where activities enhance natural systems in addition to minimising impact, by harnessing the energy and innovation capacity of Irish businesses. This platform facilitates businesses engaging directly with their impacts on our natural resources, and also provide policy makers, state agencies and businesses useful case studies, information, as well as facilitating networking and mentoring.

I and my Department are committed to working with Business for Biodiversity Ireland to explore how we best engage enterprises. For example, the ‘Climate Toolkit 4 Business’ could include more biodiversity related actions for small businesses to help them reduce negative impacts on biodiversity, promote nature positivity, and to contribute to the achievement of the National Biodiversity Action Plan. My Department will work with Enterprise Ireland and IDA Ireland to integrate biodiversity into relevant programmes and activities. IDA Ireland is also to develop biodiversity measures across their property programme, in line with the commitment to biodiversity measures outlined in IDA’s 2021-2024 strategy, Driving Recovery and Sustainable Growth.

For businesses that do not have substantial lands, water use or on-site pollutants, biodiversity can appear an abstract objective somewhat removed from the day-to-day running of their business. For small businesses in particular, who generally have low intensity natural resource use, may also have limited time and resources to engage with tangible biodiversity initiatives. The ‘Business for Biodiversity Ireland’ project and engagement through the Climate Toolkit for Business, and the enterprise development agencies, should make these objectives more tangible and develop a practical set of biodiversity actions that business can be supported and encouraged to implement.