Investor Presentaiton
Climate Action Legislation
The Climate Action & Low Carbon Development Act 2021 aims for Net Zero by 2050
Climate Action & Low Carbon Act:
Carbon Budgeting: The Act embeds the process of carbon
budgeting into law. It requires Government to adopt a series of
economy-wide-five-year carbon budgets.
51% reduction: First carbon budgets will aim for a reduction of
51% of emissions by 2030.
Climate Action Strategy: A national plan will be prepared every
five years and actions for each sector will be update annually.
All of Government approach: Local authorities are required to
prepare a Climate Action Plan and public bodies obliged to
conduct their functions in line with the national plan.
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
*F-gases, Petroleum Refining and Waste
Climate Action Plan Goals:
▸ Target of 5GW of offshore and up to 8GW of onshore wind
energy by 2030.
▸ Enable 500,000 sustainable travel journeys per day. Increase
biofuel use in transport, bus and rail replacements to be low or
zero carbon emissions. Increase proportion of kms driven by
electric cars to 40-45%.
▸ Commitment to retrofit 500,000 homes by 2030 and install
680,000 renewable energy heat sources in new and existing
residential buildings.
Sector
% Reduction by
2030 relative to
GHG emissions
2030 Ceiling
2018
Electricity
75%
3 MtCO2eq
Transport
50%
6 MtCO2eq
Buildings (Commercial and
Public)
45%
1 MtCO2eq
Buildings (Residential)
40%
4 MtCO2eq
Industry
25%
4 MtCO2eq
Agriculture
Other*
25%
17.25 MtCO2eq
45
50%
1 MtCO2eqView entire presentation