Over €55m To Help Irish Businesses Reduce Carbon Emissions

Enterprise Ireland has announced more than €55 million in funding to help Irish businesses reduce carbon emissions as part of its commitment to sustainable growth. The funding, approved through the Environmental Aid scheme and Enterprise Ireland's Green Transition Fund, has supported over 400 companies since June 2022, contributing to an estimated reduction of 130,000 tonnes of CO2 emissions.

The announcement coincides with Enterprise Ireland's inaugural Sustainable Enterprise Summit, held at the Dublin Royal Convention Centre. Bringing together more than 500 industry leaders, policymakers, and sustainability experts, the summit showcases strategies for Irish companies to advance their sustainability efforts.

This funding complements the Department of Enterprise, Trade and Employment's additional allocation of €300 million in June 2023 under the Environmental Aid scheme, aimed at expanding support for Irish companies striving to meet ambitious climate targets. With Ireland working toward a national goal of net-zero greenhouse gas emissions by 2050, and a 51% reduction by 2030, Enterprise Ireland's funding aligns with the government’s strategy. To meet the 2030 target, Ireland's enterprise sector must reduce on-site industrial emissions by 35%. Large industrial emitters regulated under the EU Emissions Trading System (EU ETS) have already made strides, achieving a 13% reduction in emissions since 2021 with Enterprise Ireland's assistance.

The Sustainable Enterprise Summit underscores Enterprise Ireland's dedication to helping Irish companies integrate sustainability into their core operations, enhancing both competitiveness and resilience. The summit highlights the importance of transitioning to sustainable practices, which address the growing demand for climate-conscious products and services and position Irish businesses as leaders in the global shift toward greener solutions.

Jenny Melia, Executive Director of Enterprise Ireland, said: "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. 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. Enterprise Ireland will continue to strengthen its support for businesses on this journey over the coming years, enabling companies to turn sustainability from a challenge into a competitive advantage."