New funding to help the move away from fossil fuels is an opportunity for every business

Jun 16, 2022

 

New funding to help the move away from fossil fuels is an opportunity for every business

Speaking after today’s announcement, Chambers Ireland’s Chief Executive, Ian Talbot, strongly welcomed today’s announcement and urged businesses to take advantage of the ‘Climate Planning Fund’ which the government have launched today, saying:

“Conducting an energy audit is the vital first step for every business that is seeking to reduce costs in these volatile times. The ‘Climate Planning Fund’ subsidises the development of such a plan, and includes matched funding to deliver it.

“This announcement also complements yesterday’s publication by Minister Peter Burke of the revised solar panel exemptions, it is a great example of joined-up, whole-of-Government thinking.

“These exemptions are another vital step in helping businesses deliver action on Climate change, make our energy supply more secure, and also reduce costs for firms.

“Large industrial units, farm building and commercial/office units will be a quick way to reduce our reliance on imported fossil fuels, and with the way prices have increased the business case for making this transition is getting better every day.

“The Enterprise Emissions Reduction Investment Fund will be especially welcome for our growing industrial sector.”

Chambers Ireland’s Head of Policy, Shane Conneely, continued:

“Given the recent rapid increase in prices, all businesses can benefit from adapting to high energy costs.

“A component of the increased fossil fuel costs will be locked in as a result of stranded assets, greater geopolitical risks, and the need to diversify supply. Businesses need to take action to adapt to what is likely to be a future of higher energy costs.

“The flip side is that higher energy prices have strengthened the business case for the shift to renewables, both in terms of cost and in terms of security of supply.

“In this year’s budget, the government should look to ring-fencing both the above profile Corporation Tax receipts, and the increase in Excise and VAT returns, so that they can fund the improvements we need to our energy grids and infrastructure if they are going to be capable of making the most of the renewable energy opportunity for Ireland.

“There is little that the government can do to stabilise energy prices in the short-run but with the right investments Ireland should have one of the cleanest, cheapest, and secure energy networks in Europe.”

 

–ENDS–

 

For further information: 

Shane Conneely, Director of Policy and Communications, 086 3244 940 or email shane.conneely@chambers.ie

 

About Chambers Ireland:

Chambers Ireland is the voice of business throughout Ireland, with 40 member chambers across every major city, town and region of the island. Aligning our strategic priorities with the UN’s Sustainable Development Goals, our aim is to make places better to live, work and do business

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