The Government will today unveil a business grants package totalling €55m to help reduce the use of fossil fuels over the coming five years.
he plan will be jointly launched by Fine Gael and the Green Party with Tánaiste Leo Varadkar and junior minister, Pippa Hackett, unveiling it in Dublin. Up to €1m in grant aid will be available to industry.
Officials said the new Green Transition Fund is to help businesses move away from fossil fuels and towards more sustainable, cheaper, alternatives. It is part of Ireland’s National Recovery and Resilience Plan, which is funded by the European Union.
The Tánaiste is expected to say everyone needs to take better care of our planet.
“Businesses have a really important role to play. However, we need to recognise that, despite the fact we have a higher number of people employed now than in the history of the state, many of our business owners are still getting back on their feet after what has been an incredibly difficult couple of years,” Mr Varadkar’s launch statement states.
The new €55m fund will have two elements – one to help businesses make a plan particular to their company to clarify what exactly needs to be done, another aimed at manufacturing industry to invest in more environmental way of doing things.
The Climate Planning Fund for Business, will give businesses funding to come up with a personalised plan to identify how best to remove reliance on fossil fuels in their business. A €1,800 grant will help develop a plan and up to €50,000 matched funding will go towards specific capacity building within an enterprise.
The Enterprise Emissions Reduction Investment Fund will give manufacturing businesses funding to invest in carbon neutral heating processes, smart metering and energy monitoring, and research and development. Up to €1m is available for businesses to upgrade their processes.