Green MEP Ciarán Cuffe has described the ‘Climate and Nature Fund’ announced in today’s budget as a ‘game-changer’. The fund, one of the first of its kind in the world, is expected to focus on projects to reduce Ireland’s dependence on fossil fuels, improve the energy efficiency of Ireland’s building stock and support nature restoration measures, among other related goals. The €3.15bn portion of funds devoted to climate and nature will be made available between 2026 and 2030, in recognition of the pressing need for investment in this area.
MEP Cuffe said:
“This fund will deliver vital investment into measures that will not only protect Ireland against the worst impact of climate change, but also deliver tangible improvements to the quality of life of people living across our island. For urban areas such as Dublin and rural communities alike, it means cleaner air and water for residents and lower energy bills and warmer homes, with more funded retrofits for the people who need them most.”
“At a European level, we are negotiating new measures to improve Europe’s building stock, to boost production of renewable energy, restore nature and protect biodiversity. With this fund, Ireland is showing other EU countries precisely how these measures can and should be introduced: with robust, ring-fenced funding that means we can make sure that everyone sees the benefit of climate action, no matter your income. This fund also places Ireland to the forefront of the European green economy, where first movers’ advantage will be crucial to reap rewards.”