Image: © Arseniy Ivanov/Stock.adobe.com
The funding approved by Enterprise Ireland has been used by more than 400 companies to help reduce carbon emissions.
State agency Enterprise Ireland has approved more than €55m in funding to support the decarbonisation of Irish companies.
The funding has been used by more than 400 businesses since June 2022 and has helped them to reduce carbon emissions by an estimated 130,000 tonnes.
The figures have been announced ahead of Enterprise Ireland’s inaugural Sustainable Enterprise Summit, which is taking place today (5 November) in Dublin.
The funds were approved under the Environmental Aid scheme and Enterprise Ireland’s Green Transition Fund.
Additionally, the Department of Enterprise, Trade and Employment allocated a further €300m in June this year under the Environmental Aid scheme to support the State agency’s commitment to advancing sustainable growth among Irish companies.
Jenny Melia, executive director of Enterprise Ireland, said the funds are helping businesses to reduce their carbon footprint, save costs and be “at the forefront of the low-carbon economy”.
“We’ve made significant strides in helping companies adopt more sustainable practices, but as we look toward our ambitious 2030 and 2050 targets, we recognise there is more to do,” she said.
“Enterprise Ireland will continue to strengthen its support for businesses on this journey over the coming years, enabling companies to turn sustainability from a challenge into a competitive advantage.”
Ireland has committed to reaching net-zero greenhouse gas emissions by 2050 and a 51pc reduction by 2030. However, several recent estimates suggest the country will fall short of these targets.
In May of this year, a report from the Environmental Protection Agency said that even if Ireland adopts all of its planned climate policies and measures, it will still miss its emission reduction goals by a wide margin in 2030.
More recently, a report by the Sustainable Energy Authority of Ireland (SEAI) showed that, despite hitting a new record in reducing its energy-related emissions last year, Ireland’s emissions are falling too slowly to hit climate goals.
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