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THE DRAFT LAW that will underpin the measures of the government’s Climate Action Plan has been published today.
The Minister for Communications, Climate Action and Environment Richard Bruton today published the Draft General Scheme of the Climate Action (Amendment) Bill 2019 and confirmed that it is priority legislation for the new Dáil term.
The action plan, which was published last June, sets out a road map for Ireland and how it is going to meet its greenhouse gas targets.
Unlike other climate plans in the past, legislation will underpin many of the targets, so as to ensure they are achieved, and the government of the day is accountable.
The Bill aims to enshrine in law many aspects, such as banning the sale of fossil fuel cars by 2030.
The draft legislation aims to stop the granting of NCTs from 2045 for fossil fuel cars.
In effect, from 2030 it will not be possible to register any new car which runs on fossil fuel. This measure will be submitted to government for approval upon the return of the Dáil this month.
It also aims underpin Ireland’s 2050 emissions reduction target.
Ireland has a target of reducing carbon dioxide emissions by 80% from 1990 levels by 2050 in the electricity, building and transport sectors.
The roll out of five-year carbon budgets for each department will also be a legal requirement. If they fail to met their target, the department will have to ‘buy out’ the difference from their financial budget.
There will also be oversight committees and regular quarterly reports to government on the progress, with the plan being very much driven by the Department of An Taoiseach.
The government will also be required to set out a decarbonisation target range for each sector, with the minister with primary responsibility for each sector to be held accountable for delivering the relevant actions.
Minister Bruton said “we must act now and leave a better, healthier, more sustainable Ireland for future generations”.
“Accountability is the key to making progress. We have a very short time to act. We must put in place a strong framework to ensure every sector, every policy, every decision delivers on the transformation that is required. Today represents a hugely important step in putting in place the necessary arrangements to achieve this objective.”
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€462 less 33% Dirt = €103 per year or €2 er week.
Seriously, how is anyone arguing that €2 per week on €10,000 put away for 3 years is actually a good deal when inflation will be over 2% for the same period.
I get that people dislike Irish banks but this isn’t the correct issue to be highlighting- it just perpetuates the appalling levels of financial illiteracy we have in this country.
Encouraging people to make a less %hitty decision is not good financial advice.
Deposit rates will never beat inflation over the longer term, the entire global financial system is set up to ensure this.
Why not educate people about the benefits of choosing a well diversified low cost investment and actually grow the value of their savings rather than fool them into thinking that 2.46% gross is a good deal.
It’s not – it’s lousy.
@Wombleman: We need to. Its the future of how we earn money when jobs are no longer necessary
@Wombleman: Well said. Not worth the bother moving it, or the ball ache of reporting DIRT….. that’s why deposits are in current not savings accounts
@RC247: that makes no financial sense when moving it actually saves your money eroding with inflation. Irish banks are scamming you & making money off you by doing so!
@Wombleman: The vast majority of people are never going invest in that way. Most don’t even move their money into an account with a higher interest rate. The banks are making money by sticking peoples money on deposit with the ECB and ripping the average saver off. It should not be allowed.
Just moved my BOI, PTSB and An Post savings to TFBank at 3.90% fixed for 1 year.
We desperately need a tax free savings & investments scheme just like the UK ISA system, the Canadian TFSA system or the (unfortunately named) US IRA savings vehicle. In the UK, residents can deposit up to £10,000/yr and earn interest free from tax.
@MTB Mayo: …sorry, it’s actually £20,000/yr now!
Why would anyone think that a bank will do anything other than take their money?
I dont understand why people are still using Irish banks. It is easy enough to open non-resident accounts in other European countries and avail of better customer service, better rates, and lower fees. Also part of the instant SEPA system unlike the Irish banks which are the only EU country yet to sign up to the protocol because the Irish banks deem it “too costly” to upgrade the technological infrastructure. I think the EU deadline was 2021, yet the Irish banks project it will be 2027 until they can partake in the system.
@Niall English: I thought Ireland was a full SEPA member… Do the Irish banks not ‘play the game’?
I didn’t encounter any problems moving my direct debits to a GB or LT Revolut account before it became IE, both with utilities and with credit card, loans, etc.
@Jerry LeFrog: they are a member of SEPA but they do not have capability of the SEPA Instant Credit Transfer Protocol e.g, instant transfer in 10 seconds. Irish bank transfers still take one working day. Its archaic stuff, technological infrastructure needs a serious upgrade and they complain they dont have the funding for this. Be nice to get into the 21st century banking. They were hoping this would be solved with that app they were going to launch together (BOI, AIB, and PTSB) but that got canned a few months ago.
https://www.raisin.ie/
Look at the rates with raisin.
F the Irish banking cartel!
To make money you need money. If you your family and mates can afford a min 100 euro each a month , you better of collectively putting into one investment pot where yous are all equal holders.
have your say