Climate action progress could attract investment, experts say, amid looming hefty EU fines
A promotion for REPowerEU on Berlaymont, which houses the headquarters of the EU Commission in Brussels, Belgium. The REPowerEU plan is a package of measures designed to tackle climate change and to end the EU’s dependence on Russian fossil fuels.
The Government’s delayed approach to complying with climate-related targets and agreements may threaten Ireland’s position as an attractive place to do business, according to collaborators of a major report.
Marie Donnelly, chair of the Climate Change Advisory Council (CCAC), along with budgetary watchdog Ifac’s chief economist Eddie Casey cautioned, since the publication of their report in March, that a likely hefty EU fine for incompliance with agreements could impact foreign direct investment (FDI) opportunities.
