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Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for measure IE-2021-16/1954 – measures in Ireland

New climate fund for business adaptation

Country Ireland , applies nationwide
Time period Temporary, 15 April 2021 – 31 August 2021
Context COVID-19, Green Transition, European Semester
Type Other initiatives or policies
Category Supporting businesses to stay afloat
– Direct subsidies (full or partial) or damage compensation
Author Roisin Farelly (IRN Publishing) and Eurofound
Measure added 11 July 2021 (updated 14 July 2021)

Background information

In April 2021, the Government launched the Climate Enterprise Action Fund. The Fund will be administered by Enterprise Ireland and will help businesses take action to drive down their emissions and embed sustainability in how they work.

Launching the scheme, Tánaiste Leo Varadkar T.D. said: "The road to recovery after the pandemic must be a sustainable one. We must break the link between economic prosperity and fossil fuels and fully embrace the transition to a low-carbon economy. The enterprise sector accounts for just over 13% of the economy’s total emissions so all businesses will have a part to play in achieving the 7% per year, on average, emissions reduction that the Government has committed to over the next decade.”

Content of measure

The scheme involved three types of funding:

  • Climate Action Voucher – €1,800 grant to engage consultants to identify opportunities and develop plans in areas such as resource efficiency and renewable energy.
  • GreenStart – up to €5,000 to measure a company’s carbon footprint and identify actions to reduce emissions and operate more sustainably.
  • GreenPlus – grant funding of up to 50% to develop a comprehensive climate change and sustainability plan aligned to international standards and frameworks.

It is intended to fund:

  • Up to 850 companies at an early stage of exploring climate and sustainability to develop a high-level company action plan.
  • Up to 100 more advanced companies to develop comprehensive multi-annual business plans with climate change and sustainability actions.
  • Support a small number of public/private partnerships working on high-impact feasibility projects that will enhance climate change and sustainability capabilities across Irish enterprise (e.g. R&D, new ways of working).

Use of measure

Too early to assess.

Target groups

Workers Businesses Citizens
Does not apply to workers Applies to all businesses Does not apply to citizens

Actors and funding

Actors Funding
National government
Public support service providers
European Funds
National funds
National Recovery and Resilience Facility

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • No involvement
  • Main level of involvement: N/A

Involvement

N/A

Views and reactions

N/A

Sources

Citation

Eurofound (2021), New climate fund for business adaptation, measure IE-2021-16/1954 (measures in Ireland), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/IE-2021-16_1954.html

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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.