4th November, 2010

As a response to environmental and economic challenges in front of us Fine Gael has published its plan to transform the Irish economy into a modern, sustainable and clean economy. Our NewERA strategy is first major credible step in transforming the Irish economy into a low carbon economy while creating 100,000 jobs in the process.

The €11 billion investment programme will see significant State intervention to rapidly promote more sustainable energy and transport sectors while bringing telecommunications into the 21st Century. This radical transformation of the Irish economy will dramatically reduce emissions from the energy and transport sectors.

Ireland currently imports over €6 billion worth of fossil fuels every year to feed our cars, homes and electricity grid. This is neither economically nor environmentally sustainable. This €6 billion of imported fossil fuel also represents 64.7% of all carbon emissions in Ireland, created from fossil fuel combustion. We need to keep this money in Ireland to fund Irish energy generation and investment. Over 42% of all of Ireland’s carbon emissions comes from energy industries and the transport sector. These also continue to be the hardest sectors in which to reduce emissions. The creation of new renewable energy companies will drive serious investment in emerging technologies such as ocean energy and develop market share in developing technology such as wind. Fine Gael also proposes that energy storage will play a much bigger role in renewable energy generation.

Our proposal to merge Bord na Mona and Coillte into a new company ‘BioEnergy Ireland’ is also far-reaching and will take advantage of Ireland’s natural advantage of growing trees.

Dealing with the duel challenges of climate change and economic recession will require dynamic ideas and policies. Fine Gael believes NewERA represents a new way of thinking that will develop Ireland into a low carbon but a highly competitive economy.
Click here for NewEra document