'Ireland is a stand-out laggard on climate action' - taxpayers face bill of up to 26bn bill for government failures on targets

Ireland is currently the worst-performing EU country in terms of per capita emissions overshoots, with economic and climate advisers warning of severe financial penalties for failing to comply with EU regulations. The government has not budgeted for these impending costs, which could reach between €10-€26 billion in five years. The Irish Fiscal Advisory Council emphasizes the urgency for realistic estimates and suggests investing in renewable energy infrastructure to mitigate costs. Authorities must take immediate action to avoid larger penalties down the line.

The collaboration arose as both institutions saw an urgent need for realistic estimates of the costs faced if Ireland fails to meet its climate commitments.

The economics and climate advisers are warning that the Government has not begun to budget for the penalties which will be incurred in just five years' time.

Read at Irish Independent