Enterprise Ireland has approved over €55 million in funding today (Tuesday, November 5) to support the decarbonisation of Irish businesses.
The funding was approved under the Environmental Aid scheme and Enterprise Ireland’s Green Transition Fund.
The funding has benefited more than 400 Irish companies since June 2022, reducing CO2 emissions by an estimated 130,000 tonnes.
The Department of Enterprise, Trade and Employment also allocated a further €300 million in June this year under the Environmental Aid scheme to support Enterprise Ireland’s broader commitment to advancing sustainable growth among Irish companies.
These figures were announced as more than 500 leaders and experts attend Enterprise Ireland’s inaugural Sustainable Enterprise Summit, which is taking place today in the Dublin Royal Convention Centre in Dublin 8.
Ahead of the summit, Enterprise Ireland stated that Ireland’s commitment to reaching net-zero greenhouse gas emissions by 2050, and a 51% reduction by 2030, “requires decisive action” within the enterprise sector, with a 35% reduction in on-site industrial emissions required by 2030.
Enterprise Ireland client companies that qualify as large industrial emitters (those regulated by the EU Emissions Trading System) have already reduced emission by 2021, with support from the funding, by 13%.
Enterprise Ireland
Executive director of Enterprise Ireland Jenny Melia said: “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.
“Enterprise Ireland will continue to strengthen its support for businesses on this journey over the coming years.”
Minister of Trade Promotion, Digital & Company Regulation, Dara Calleary said that decarbonisation is “no longer optional”, however “essential”.
“By supporting businesses in their transition, we’re ensuring that Irish companies not only meet climate targets but also thrive in a decarbonising world,” Minister Calleary said.
The Sustainable Enterprise Summit on today will highlight success stories from Irish companies who have leveraged sustainability as a growth opportunity.
There will be contributions from leading Irish companies including: Diageo; Dairygold; Techrete; Aerogen; Watershed; Portwest; Version1; and Carbery.
Attendees will have the opportunity to hear from industry leaders as well as a several Irish companies, ranging from start-ups to SMEs and multinationals.
The event will offer practical insights and support mechanisms to aid businesses in their journey toward a sustainable future.