Planning delays and job shortages, as well as post-Brexit rules and the absence of a Northern Ireland executive, have “slugged investment” across the island of Ireland in recent years, according to a report by Irish business group Ivec and the British Union. That’s what it means. Industry (CBI) Northern Ireland.
The report says developers face “immense challenges” in delivering large-scale renewable projects, including solar farms, wind farms and interconnectors, on time. . The biggest problems are “cumbersome planning processes, regulatory uncertainty, under-resources in key agencies, and lengthy judicial review challenges.”
“Failure to address these issues will result in significant investment, talent and supply chains being moved elsewhere,” the report said. “Ultimately, these delays will threaten the island’s ability to meet its energy and emissions targets.”
Ireland will fall far short of EU emissions reduction targets for 2030, according to the Irish Environmental Protection Agency (EPA).
Even with the ambitious measures outlined in last year’s Climate Action Plan, Ireland will only be able to reduce emissions by up to 30% on 2005 levels, falling short of its 42% target, the EPA said. Ta.
In today’s report, businesses across the island of Ireland urge Belfast, Dublin and London to launch “a new phase of energy co-operation and investment in shared infrastructure, including a recommitment to the single electricity market”. I am asking you to do so.
Transitioning to net-zero greenhouse gas emissions – where emissions are reduced or fully offset by 2050 – will cost the entire island an estimated €125 billion over this decade, the report says. .
Ibec lobbying director Fergal O’Brien said the restoration of the Northern Ireland Executive and the resumption of the North South Ministerial Council (NSMC) was a “real opportunity to start a new phase of all-Ireland co-operation”.
“Uncoordinated and disjointed approaches pit policymakers against each other, resulting in unnecessary duplication of effort and investment, increased costs, mixed signals to consumers and investors, and “This could lead to missed opportunities to reduce emissions.”
CBI Northern Ireland director Angela McGowan said it was “in Northern Ireland’s economic interests to expand” cooperation on energy policy between Ireland and the UK.
“The business community recognizes the tremendous opportunities that come from increased investment, energy security and job creation. But they need to work together, both North and South and East and West, to ensure that regulatory differences do not hold back progress. This can only be achieved by doing so.”