Ibec, the group that represents Irish business, is pleased to announce the launch of a major new report, ‘Building a competitive low carbon economy – An Irish business roadmap to 2050’ (see report attached). In the report, Ibec outlines a vision for 2050 that would see Ireland have a smart, low carbon economy known for its sustainable enterprise base, industrial competitiveness, energy resilience, skilled workforce and high quality of life.
Commenting, Danny McCoy, Ibec CEO, said: “Climate change is the single greatest challenge faced by humankind today. As part of a wider global response, Ireland needs to play its part by taking decisive action to decouple emissions from population and economic growth, and to transition to a competitive low carbon economy.
“For Irish business, such a transition presents a no-regrets opportunity to build a better Ireland. If we focus on smart, cost-effective and evidence-based policies, we can use the transition to enhance our energy security, boost competitiveness, improve quality of life and create thousands of sustainable jobs across the country.”
The report was developed in consultation with Ibec member companies and with guidance from the SFI MaREI Centre’s Energy Policy and Modelling team at University College Cork. Following publication of the report today, Ibec has commenced an engagement with Government, policymakers and other relevant stakeholders to help build a new low carbon economy.
Ibec believes the decarbonisation involved in moving the current economy to a competitive low carbon one should happen in phases to ensure a smooth and fair transition. The report makes recommendations across six main policy areas:
- 1. Introduce short-term carbon budgets: Introduce continually reducing carbon budgets for sectors outside the Emissions Trading System (ETS). This would bring greater visibility to Ireland’s emissions targets and obligations.