What's Another Year 2025 - Energy

Half-Time Approaches

As this decade began, the EU and Ireland enshrined strong 2030 targets for a more realistic trajectory towards carbon neutrality in 2050.

As we begin the final year of Ireland's first carbon budget, progress is insufficient (as outlined by the Sustainable Energy Authority of Ireland and Environment Protection Agency), even with energy emissions at their lowest rate in 30 years. This will increase pressure on future budgets and risk delayed achievement of Climate Action Plan targets.

Questions are increasingly being asked about the impact of failure to meet our EU 2030 targets under the Effort Sharing Regulation and Renewable Energy Directive (RED III), with the Fiscal Advisory Council now estimating that Ireland could pay up to €20 billion by 2030 to cover the cost of statistical transfers, carbon credits or fines.