Delivering innovate projects to reduce GHG emissions under Project Ireland 2040

The €500 million Climate Action Fund is one of four funds established under the National Development Plan 2018-2027. The fund will support the delivery of innovative projects from the public and private sectors to reduce greenhouse gas (GHG) emissions.

Under the first call for applications, seven projects were approved and the validation process on these projects is currently underway. The successful projects will be provided with up to €77 million in support and will leverage a total investment of €300 million.

These were the sentiments expressed by the Minister for Communications, Climate Action and Environment, Richard Bruton, during Dáil proceedings recently after he was asked by Fianna Fáil’s deputy Jack Chambers about capital projects that have commenced under Project Ireland 2040.

Minister Bruton, meanwhile, told the deputy that Project Ireland 2040 provides exchequer funding of €7.6 billion, together with investment of €13.7 billion by commercial state bodies under National Strategic Outcome 8 – Transition to a Low-Carbon and Climate-Resilient Society.

“During the period of the plan, key capital investments to be progressed with grant support from my department include: energy efficiency upgrades in the residential, commercial and public sectors; Support Scheme for Renewable Heat; electric vehicle incentives; energy research funding; and boiler replacement,” he continued.

The vast majority of capital funding provided to my department under Project Ireland 2040 comprises grant funding.

“This funding is for the ongoing sustainable energy and energy research programmes administered by the Sustainable Energy Authority of Ireland (SEAI) on behalf of my department.”

In conclusion, the minister went on to say that the National Development Plan – as part of Project Ireland 2040 – also provides for the roll-out of the National Broadband Plan state intervention – the contract for which, he added, “is currently being finalised”.