EY Ireland comments on announcement of new carbon budgets

The carbon budgets published today complete one of the most challenging and important tasks set out in the Climate Action Plan 2019
by IFSC News
26 Oct 2021
IFSC

International Financial Services Centre

Carbon budgets have been deployed with notable success in other countries, and are a proven tool in driving policy development and action execution for climate goals.

“The carbon budgets tell a story of Ireland’s journey ahead. In the first carbon budget announced, covering this year and the next four years, we have most likely just in the range of 235 million tonnes of carbon allowances left, which means that on average we need to reduce our emissions to 59 million tonnes per annum from the pre-pandemic levels of 67.5 million tonnes. In of itself this will require our entire population putting their shoulder to the wheel. But it is the second budget, to 2030, where we will see fundamental changes to how we live our daily lives. Setting the trajectory where in 2030 we produce just 33 million tonnes or so of carbon per annum, and putting in place the policies and actions to achieve this, will prove a test of our collective resolve.

“I believe that the first carbon budget until 2025 will help us to learn the winning behaviours and build the positive mentality for the changes demanded of the second budget to 2030. The steps we take now to build momentum and engage and debate in the policy decisions ahead, are the steps that will set us up for future successes so Ireland as a nation, businesses and consumers can play their part in protecting the planet for future generations.”

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