Nation can become ‘global hub for carbon credit trading’

IRELAND has a realistic chance of resurrecting its international financial reputation by becoming a leading global hub for carbon credit trading.

The corporate responsibility advisory group, Business in the Community Ireland (BITCI) yesterday delivered its Green Ireland: The Business of Climate Change report to Minister for the Environment John Gormley. The report was the result of last October’s forum on climate change and called for a long-term policy framework to drive Ireland’s transformation into a low carbon economy.

“Our hope is that this report provides an informative and relevant contribution on the business response to climate change and will stimulate the debate on the transformational changes required to move Ireland towards a low carbon economy,” said BITCI chairman Kieran McGowan.

Tina Roche, the body’s chief executive, added: “We believe in one central premise — business action on climate change is needed urgently and a strong corporate response must be part of the solution.

“We need to be thinking about the creation of a new transformational approach, involving a mutually beneficial partnership between business and Government, which will be in the long-term interest of current and future generations,” she added.

The report found 73% of respondents said they were measuring their emission levels, nearly 70% have a committee with responsibility for climate change and over 86% are investing in, or have plans to invest in, products and services designed to minimise the effects of climate change.