Enterprise Ireland has approved over €55m in funding to support the decarbonisation of Irish businesses, with the funding benefitting more than 400 Irish companies since June 2022.
Approved under the Environmental Aid scheme and EI's Green Transition Fund, the funding has helped to reduce CO2 emissions by an estimated 130,000 tonnes.
The Department of Enterprise, Trade and Employment also allocated a further €300m in June this year under the Environmental Aid scheme to support EI’s broader commitment to advancing sustainable growth among Irish companies.
More than 500 industry leaders, policymakers, and sustainability experts are attending Enterprise Ireland’s inaugural Sustainable Enterprise Summit today in the Dublin Royal Convention Centre in Dublin 8.
Attendees will have the opportunity to hear from industry leaders as well as a several Irish companies, ranging from start-ups to SMEs and multinationals, with contributions from leading Irish companies including Diageo, Dairygold, Techrete, Aerogen, Watershed, Portwest, Version1 and Carbery
The country has a commitment to reaching net-zero greenhouse gas emissions by 2050, and a 51% reduction by 2030, which requires decisive action within the enterprise sector, with a 35% reduction in on-site industrial emissions required by 2030.
EI client companies that qualify as large industrial emitters have already made significant reductions, with support from this funding. Since 2021, these companies have reduced emissions by 13%, which indicates good progress towards the 2030 target.
Jenny Melia, Executive Director of Enterprise Ireland, said that with over €55m in funding approved to date, EI is enabling businesses of all sizes to reduce their carbon footprint, harness cost savings, and position themselves at the forefront of the low-carbon economy.
"We've made significant strides in helping companies adopt more sustainable practices, but as we look toward our ambitious 2030 and 2050 targets, we recognise there is more to do. Enterprise Ireland will continue to strengthen its support for businesses on this journey over the coming years, enabling companies to turn sustainability from a challenge into a competitive advantage," she added.
Minister of Trade Promotion, Digital & Company Regulation, Dara Calleary said his Department was committed to supporting businesses on their decarbonisation journey.
"Decarbonisation is no longer optional - it's essential for resilience in today’s competitive landscape. By supporting businesses in their transition, we're ensuring that Irish companies not only meet climate targets but also thrive in a decarbonising world," he added.
