Sinéad Gibney (Dublin Rathdown, Social Democrats)
Link to this: Individually | In context

71. To ask the Minister for Enterprise, Trade and Employment the steps his Department is taking to attract non-energy intensive and environmentally sustainable industries and investment to Ireland, in line with efforts to decarbonise and meet our 2030 climate commitments; and if he will make a statement on the matter. [50799/25]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context

My Department continues to work closely with IDA Ireland to ensure there is a strong pipeline of Foreign Direct Investment (FDI) into Ireland. IDA Ireland actively partners with FDI client companies to help them deliver on their sustainability and skills agendas. In 2024, this enabled IDA clients to commit capital investment of €117m towards sustainability investments and a further €118m in the training and upskilling of their workforce. In 2024, IDA Ireland approved 31 sustainability projects focused on carbon abatement and building Ireland’s Green Economy.

IDA Ireland launched its new strategy in February this year: Adapt Intelligently: A Strategy for Sustainable Growth and Innovation 2025-29. IDA’s strategy identifies sustainability as a key FDI growth driver, alongside digitalisation and AI, semiconductors and health. Ireland’s existing strengths and IDA Ireland’s portfolio of client companies are aligned with these four strategic growth drivers. The strategy aims to realise green economy opportunities and embrace digitalisation and AI opportunities across all sectors, while partnering with clients to decarbonise their business.

IDA targets existing and emerging digital and AI opportunities, including those that align with and support Ireland’s green transition. Furthermore, IDA is targeting FDI in the offshore wind value chain, green hydrogen and emerging green economy investments of scale, supporting the Powering Prosperity national strategy. Ireland’s wind energy potential is one of the strongest in Europe.

Ireland’s efforts to attract sustainable investment are also supported by the Government’s Action Plan on Competitiveness and Productivity which I published this month. Improving competitiveness and productivity are central to Ireland’s economic prospects. They help to drive sustainable growth, support job creation, and are key contributors to improving living standards for all.

My Department launched a €300 million Environmental Aid Fund last year and the Action Plan on Competitiveness includes a commitment to utilise this scheme to the fullest extent in providing capital support grants to high-impact decarbonisation projects in manufacturing sectors through Enterprise Ireland and IDA Ireland. In the coming months, I also propose to bring forward legislation providing for a new Environmental Protection Aid grant, streamlining the approval process for such grants and strengthening the ability of IDA and Enterprise Ireland to support sustainability projects.

My Department is ambitious about Ireland’s competitiveness position regarding FDI and will continue to develop new policies, strategies and the legislative toolkit constantly to ensure our objectives for this critical part of the economy are met.