Ireland Faces Potential Billions in EU Emissions Compliance Costs

Ireland may need to pay between 8 billion and 26 billion euros in EU compliance costs by 2030 if it doesn't act to cut emissions, according to fiscal and climate watchdogs. Measures to avoid these costs include energy grid upgrades, faster electric vehicle adoption, and farming practice changes.

Ireland risks facing EU compliance costs ranging from 8 billion to 26 billion euros if it fails to implement emissions-cutting measures by 2030, warned fiscal and climate advisory bodies on Tuesday.

According to the watchdogs, the government can reduce these costs significantly if it follows through with its existing plans, potentially saving billions.

As part of the EU's 55% emissions cut target by 2030, countries failing to achieve their targets must compensate those that exceed theirs. Despite favorable public finances, Ireland remains behind its EU counterparts on per capita emissions reduction.

(With inputs from agencies.)