State's budget watchdog maps out the cost of climate change measures

Report's author said its calculations of farmer support were based on Teagasc research findings of the reduction in livestock numbers needed for the sector to meet its targets, and on farmer compensation for the accompanying reduction in farm incomes

'Some beef and sheep herds operate at a net loss. One could support those farms, in particular, to transition away from using the land for their beef and sheep herds towards other land uses like afforestation. They could end up better off as a result.'

Supporting farmers, and retrofitting of buildings, are predicted to be the biggest climate change public expenditure items in Ireland.

The Irish Fiscal Advisory Council (Ifac) said the proportion of these climate transition costs to be borne by the State was ultimately a Government policy choice, making the expenditure path incredibly uncertain to predict in its report, entitled "What Climate Change Means for Ireland's Public Finances".