I propose to take Questions Nos. 31 and 32 together.
As the Deputy will be aware, there are two mechanisms for drawdown of funding from the Infrastructure, Climate and Nature Fund (ICNF): to support State expenditure on designated environmental projects or to support State expenditure in the case of a significant deterioration in the economic or fiscal position of the State. I take it that in this instance the Deputy is referring to the possible withdrawal of up to €3.15 billion to support designated environmental projects.
With regards to drawdown from the ICNF to support designated environmental projects, maximum drawdowns available in a given year are dependent on the Net Asset Value (NAV) of the fund on the 31st December of the year prior to the drawdown occurring. As such I cannot at this time indicate to the Deputy the amount which will be available in 2027, as it will be dependent on the Net Asset Value of the ICNF on 31st December 2026.
The maximum drawdown available from the ICNF to support designated environmental projects in 2026 is 22.5% of the NAV of the ICNF on 31st December 2025 which was €4.1bn. As such the maximum drawdown available in 2026 is approximately €922.5 million. No more than €3.15 billion can be drawn down in total on designated environmental projects from 2026 to 2030.
This funding is restricted to projects which will contribute directly or indirectly to the reduction of greenhouse gas emissions, the improvement of biodiversity of the improvement of water quality, in line with the provisions of Section 20 of the Act.
The revised National Development Plan (NDP), which was published in July 2025, provided an indicative allocation of funds to Departments for designated environmental projects between 2026 and 2030, including:
• An allocation of €2 billion to the Department of Transport to support low-carbon transportation,
• An allocation of €650 million to the Department of Housing, Local Government and Heritage to support improvements in water quality, and
• An allocation of €500 million to the Department of Climate, Energy and the Environment to support climate mitigation and renewable energy development.
The responsible Minister in each Department referenced above, will allocate funding to individual projects under their remint, which are required to be designated in line with the Act. Engagement between relevant Departments and the Department of Public Expenditure will occur each year with regards to the funding to be drawn down to support designated environmental projects in the following year. Details as to annual drawdowns will be provided in the Revised Estimates Volume (REV) each year.
Appendix 8 of the Revised Estimates for Public Services 2026 sets out the total funding to be drawn down in 2026, with both the Department of Climate, Energy and the Environment and the Department of Housing, Local Government and Heritage intending to draw down funding. The total anticipated drawdown from the ICNF in 2026 is €134 million, for the following projects:
• Public Service Retrofit Programme
• Offshore Mapping
• Uisce Éireann Wastewater Programme