More than €55m in funding has been approved to support the decarbonisation of Irish businesses, Enterprise Ireland has announced.
Approved under the Environmental Aid scheme and EI’s Green Transition Fund, the supports have benefited more than 400 Irish companies since June 2022, reducing CO2 emissions by an estimated 130,000 tonnes.
The new funding is in addition to a further €300m approved by the Department of Enterprise, Trade and Employment in June this year to support Enterprise Ireland’s aim to advance sustainable growth among Irish companies.
These figures were announced as more than 500 industry leaders, policymakers, and sustainability experts attend Enterprise Ireland’s inaugural Sustainable Enterprise Summit, which is taking place the Dublin Royal Convention Centre.
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 has said.
CLIMATE & SUSTAINABILITY HUB
Clients of Enterprise Ireland that qualify as large industrial emitters under the EU Emissions Trading System have already made significant reductions, the organisation added, noting that since 2021, these companies have reduced emissions by 13%.
“With over €55 million in funding approved to date, we are enabling businesses of all sizes to reduce their carbon footprint, harness cost savings, and position themselves at the forefront of the low-carbon economy,” said Jenny Melia, Executive Director of Enterprise Ireland.
“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.”
Minister of Trade Promotion, Digital & Company Regulation, Dara Calleary TD added: “Decarbonisation is no longer optional; it’s essential for resilience in today’s competitive landscape. By supporting businesses in their transition, we’re ensuring that Irish companies not only meet climate targets but also thrive in a decarbonising world.”
Attendees of Sustainable Enterprise Summit will include start-ups to SMEs and multinationals, with contributions from leading Irish companies including Diageo, Dairygold, Version1, and Carbery.