The establishment of five-year carbon budgets has been confirmed to be included as part of the Governments Climate Action Plan.

The plan – published today, Monday, June 17, by the Government – led by the Minister for Communications, Climate Action and the Environment, Richard Bruton, aims “to give Irish people a cleaner, safer and more sustainable future”, according to the Government.

The plan outlines that the Government aims to establish a system of five-year carbon budgets and sector targets.

According to a Government statement: “The far-reaching plan sets out over 180 actions, together with hundreds of sub-actions, that need to be taken at a time when the warning signs are growing, and the time for taking action is rapidly reducing.”

These targets will be underpinned by a new Climate Action Act and penalties will be imposed if they are not met.

All major Government investments and decisions will also be carbon-proofed, according to the statement.

Concluding, the plan further warns that failure to implement these policies to meet Ireland’s legally binding EU targets could result in a cost to the exchequer of up to €1.75 billion over the next decade as well as locking Ireland into a future high carbon trajectory.