Budgetary watchdog warns households could be on the hook for slow response to climate change

Projections for Ireland based on existing plans show it missing its requirements.

Increased rainfall and rising temperatures carry risks of more regular flooding and wildfires. When these events occur, the costs associated with them could be in the region €5m of gross national income, cautioned Ifac. Credit: Karlis Dzjamko

The budgetary watchdog has warned that the Government’s current climate policies are not sufficient to meet legal requirements and households and businesses may take a financial hit as a result.

The Irish Fiscal and Advisory Council (Ifac) said that due action will now need to be rushed to meet the mandatory climate targets which will tighten financial constraints on households and businesses.