Irish businesses to receive help to move away from fossil fuels

The Green Transition Fund, part of Ireland’s EU-financed National Recovery and Resilience Plan, will be comprised of helping businesses develop company-specific plans for moving away from fossil fuel use and encourage the manufacturing industry to invest in sustainable alternatives.  [Shutterstock/Bilanol]

Dublin will help businesses in Ireland move away from fossil fuels and towards more sustainable replacements with a fund worth €55 million.

The Green Transition Fund, part of Ireland’s EU-financed National Recovery and Resilience Plan, will be comprised of helping businesses develop company-specific plans for moving away from fossil fuel use and encourage the manufacturing industry to invest in sustainable alternatives.

Under the programme, which will run for five years, grants of €1,800, with matched funding of up to €50,000, will be available to businesses seeking to construct such plans and build capacity.

Up to €1 million will be available for manufacturing businesses to upgrade their processes by installing, for example, carbon-neutral heating and smart meters.

“Putin’s war on Ukraine has highlighted the vulnerability of becoming too reliant on finite resources controlled by other states,” said Tánaiste Leo Varadkar.

“We need to help Irish businesses now prepare for a future where economic growth and fossil fuels are not intertwined. This fund is an important help,” he added.

“The businesses I talk to see opportunities to reduce their costs and their carbon emissions by better managing their energy use. These funds can unlock that opportunity for manufacturing businesses in particular and make a real difference to the bottom line and climate impact of our enterprise base,” said Minister of State for Land Use and Biodiversity James Browne.

(Molly Killeen | EURACTIV.com)

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