ATTRACTIVE LOCATION FOR SUSTAINABLE OPERATIONS

Ireland has one of the most ambitious decarbonisation plans of any country in the world making it an attractive location for global companies to expand or invest in for the first time. Already 43% of electricity used in Ireland in 2020 was from renewables, a 20% increase on the year before. Ireland’s Climate Action Plan aims for this to be at least 70% by 2030. Ireland is already the 2nd highest in Europe for wind and solar energy production per capita.

Sustainable Location

Ireland’s FDI base is very active on the sustainability agenda. Many companies are actively disclosing their carbon footprints and have ambitious climate action plans. Many FDI operations in Ireland are leading their corporation’s global drive to reach net zero thereby adding considerable capability and competitiveness to their organisations. 66% of IDA Ireland’s top 100 clients have made net zero carbon pledges and actively disclose their carbon footprint. Furthermore, 15 of IDA Ireland’s top 40 clients are achieving A ratings on sustainability, which only 3% of companies globally have yet attained.

Future Proofed

As the most westerly country in Europe, as well as having the fastest average wind speeds, Ireland’s position on the Atlantic coast makes it the most suitable location in Europe for an abundance of wind energy. It is already number one in the world for share of electricity demand provided by onshore wind. There are ambitious plans in action for offshore wind energy which could generate multiples of the energy than what the country currently uses today. This has also led to plans to produce hydrogen at scale using excess wind energy.

Financial Support

Financial Support

IDA Ireland has a suite of grant mechanisms which can be availed of by client companies who undertake various sustainable projects. These incentives can provide financial support for a vast array of initiatives from developing climate action plans, where the Green Start or Green Plus programme can be leveraged to access expert advice, to clients undertaking significant decarbonisation projects, where IDA Ireland’s Environmental Aid Programme can be potentially utilised. IDA Ireland’s other grant offerings also bear relevance to many sustainable initiatives, particularly the R&D grant which can be used for large-scale multi-year research projects where companies are looking to develop next-generation technologies within the sphere of the Green Economy.

Contact the Green Economy Team

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