Dáil Éireann Debate, Tuesday - 9 July 2024
107. Deputy Richard Bruton asked the Minister for the Environment, Climate and Communications to indicate the marginal abatement cost of the most expensive policy measure in each sector now included in the Climate Action Plan for delivery by 2030; the projected cost per tonne of carbon equivalent abated in each case; and if he will make a statement on the matter. [29500/24]
Amharc ar fhreagraAbatement potential of climate policies and measures and the projected capital investment required for decarbonisation pathways across all sectors are key factors underpinning the analysis which has informed the development of successive Climate Action Plans. This analysis shows that the adoption of clean energy technologies have significant potential to reduce Ireland's greenhouse gas emissions.
Marginal abatement cost analysis has been undertaken by UCC MaREI (part of the Government-funded Climate Action Modelling Group) using the TIMES Ireland Model (TIM), which is an energy systems optimisation model that helps identify cost-optimal pathways for decarbonising Ireland's energy system while meeting future energy demands. This analysis has informed Ireland's climate policy, including the setting of our Sectoral Emissions Ceilings (SECs) and is also being used to inform the development of our approach to carbon pricing, including setting a "shadow price of carbon" which reflects the costs to society in terms of greenhouse gas emissions and the benefits derived from their mitigation.
A comprehensive range of factors beyond this have also been included in our policy modelling approaches to inform Climate Action Plan measures across sectors, including the feasibility of implementation within the required timeframes, socioeconomic and wider environmental impacts, complementarities with other policies and measures, and the Just Transition Framework.
This holistic modelling approach reflects the significant co-benefits of Ireland's decarbonisation measures, including warmer homes from energy efficiency retrofits, air quality improvements, from the shift to more sustainable transport modes, increased energy security afforded by renewable power generation technologies, and will continue to underpin Ireland's approach to the green transition.
While the overall investment required to mobilise key decarbonisation technologies has been estimated at €119 to €125 billion, as detailed in Climate Action Plan 2024 (Choosing the Pathways), these estimates do not map precisely to individual measures as defined in the plan, as many measures have interconnected costs and benefits, and the plan includes supporting actions which indirectly contribute to our climate objectives.
Individual Departments, which act as policy-holders for the measures relating to their sectors, have responsibility for securing the budgetary allocations to fund measures within their remit, as well as prioritisation within overall financial allocations.
