More than €55 million had been approved by Enterprise Ireland to support decarbonisation in Irish businesses.
The funding will benefit 400 companies across the county and is set to offset 130,000 tonnes of CO2 emissions. The funding was approved under the Environmental Aid scheme and Enterprise Ireland’s green transition fund.
The European Union’s recovery and resilience facility backs the green transition fund for businesses, which is overseen by Enterprise Ireland. The fund is designed to support businesses as they decarbonise.
Executive director of Enterprise Ireland Jenny Melia said that the organisation had taken significant steps towards green practices but there was still more to do.
The plan is in line with the Government’s Climate Action Plan 2024 which outlines the goals for the country to halve carbon emissions by 2030 and reach net zero by 2050. Cutting carbon emissions by 50 per cent by 2030 requires a 35 per cent reduction by the business sector.
“With over €55 million in funding approved to date, we are enabling businesses of all sizes to reduce their carbon footprint, harness cost savings, and position themselves at the forefront of the low-carbon economy,” said Ms Melia
The results are to be announced at Enterprise Ireland’s inaugural sustainable enterprise summit taking place on Tuesday, November 5th in the Royal Dublin Convention Centre.
More than 500 business figures, policymakers and sustainability experts will be in attendance at the event alongside companies such as Dieageo, Dairygold, Carbery and Aerogen.
It comes as the Department of Enterprise, Trade and Employment allocated another €300 million in June this year to support sustainable growth in Irish businesses.
Minister for Trade Promotion, Digital and Company Regulation Dara Calleary said “decarbonisation is no longer optional; it’s essential for resilience in today’s competitive landscape”. He reaffirmed the department’s commitment to ensuring that Irish companies are able to meet their climate target and “thrive in a decarbonising world”.
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