Climate change: €22bn plan prioritises greener homes, transport

Some €22bn worth of investment in technology and other initiatives is aimed at reducing carbon emissions even while population growth increases carbon- producing activities through extra demand on energy, transport, and industrial output. Exchequer spending will run to €7.6bn while private investment is expected to account for €14.2bn. A €500m climate action fund is to be set up to kickstart investment, financed by an existing 2c per litre levy on petrol. Other expenditure will include €4bn in funding to upgrading 40,000 homes per year from 2021 to achieve a minimum B BER. A B rating will also be targeted for all public buildings and a third of commercial premises, and supports are to be put in place to switch 170,000 homes from oil-fired boilers to heat pumps and rooftop solar panels.

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