A new report by KPMG Ireland indicates that the South West of the country is "uniquely positioned for economic growth" and could achieve low-carbon status by 2040.
In its latest publication called "KPMG South West 2040", the consultancy firm said that the region has "significant advantages" like a strong industrial base, leading education and research institutions, and its role in Ireland's energy generation.
Ireland's South West has a population of over 740,000, contributing more than 20% of national GDP.
Cork supplies over 25% of national energy demand and is home to roughly 20% of Ireland’s installed electricity generation capacity, centered on the Whitegate oil refinery and the Aghada and Whitegate gas-fired power stations.
Co Kerry accounts for around 13% of national wind generation, KPMG noted.
"The evidence is clear that the South West is primed to lead Ireland’s renewable energy generation development," said KPMG partner Barrie O'Connell.
He called for "unlocking this potential" further.
"The availability of 388 hectares of zoned Special Policy Area in the Cork Harbour Whitegate area can enable delivery of major energy-related developments."
In its report, KMPG recommended accelerated delivery of infrastructure projects like the Luas Cork and develop a coordinated transition roadmap for Cork Docklands.
However, consultants warned that no major infrastructure project should proceed without "a robust assessment of climate risk".
With the South West being one of Ireland's most exposed regions to climate change impacts due to its Atlantic exposure and low lying coastal towns, the region needs "appropriate protection measures."
