Shannon Chamber welcomes Government support for industry decarbonisation

Shannon Chamber welcomes the announcement by the Minister for Enterprise, Trade and Employment, Peter Burke, that €300 million will be available to drive the decarbonisation of Ireland’s industrial emitters over the coming years. The fund, which can used by Enterprise Ireland and IDA Ireland to support client companies to reduce their industrial emissions between now and 2030, comes at a time when businesses in Shannon and the wider region are seriously focused on attaining their carbon emission reduction targets.

Commenting on this new funding stream, Chamber CEO Helen Downes said: “It is clearly evident that companies need assistance to enable them to attain their carbon emission reduction targets by 2030. We heard this firsthand when we hosted a seminar in May, via our Mid-West Sustainability Network, at which representatives from State agencies advised our members on the types and levels of funding available to support sustainability initiatives. 

“The key messages from this event were that industry will need to move faster to attain carbon emission reduction targets by 2030 and that sustainability is no longer ‘nice to have’; it must be on the agenda of every company, regardless of size.

“The Corporate Sustainability Reporting Directive (CSRD), which is now mandatory for companies with more than 500 employees, and with those with more than 250 employees coming into the net from January 2025, and listed SMEs from January 2026, will require companies to measure their sustainability outcomes. CSRD requires large companies and listed companies to publish regular reports on the social and environmental risks they face, and on how their activities impact people and the environment. It holds significant importance for businesses in today’s global economy.,” adds Ms Downes.

Having set up the Mid-West Sustainability Network to support members in their sustainability journeys and in the delivery of their sustainability goals, Ms Downes said that the Chamber will, at the many sustainability workshops planned for 2024, including a week-long focus on sustainability is late September, encourage its members to avail of the funding available, not just from IDA and Enterprise Ireland but from other State agencies including LEO Clare, SEAI, Skillnet Ireland, the EPA and the Southern Regional Waste Planning office.

“I would encourage companies to engage with their development advisors, set out their plans and be ambitious in their quest to reduce carbon emissions. Some companies are advanced in what they are doing, others are not; this funding will certainly help companies attain their sustainability targets,” said Ms Downes.