€2BN to be invested in Docklands development by 2021
23rd June 2015: Dublin City Council (DCC), the Sustainable Energy Authority of Ireland (SEAI) and the International Sustainability Investment Centre (formerly the Green IFSC) announced a new initiative called Docklands 21 extending their reach to a full Sustainable Energy Community (SEC). While Dublin Docklands represents the financial heart of the Irish economy. It is also home to a vibrant residential community with finance, legal, tech services co-existing alongside a working port and a very active culture and educational sector
This event marked the second day of the “Sustainability Gathering 2015” and was opened by Minister for Communications, Energy and Natural Resources, Alex White, T.D.
Minister White commented: “This Government is firmly committed to the ambitious goal of improving the energy efficiency of Ireland’s economy by at least 20% by 2020. This is a challenging target but reaching it will lead to a sustained long-term increase in incomes, employment and economic activity and improve competitiveness of our economy.”He went on to say: “Flagship projects like Docklands 2021 will play an important role in meeting this target, not only for the energy savings they deliver but also convincing more firms and communities across Ireland to work together and develop similar collaborative projects that can demonstrate the wider benefits of energy efficiency. This initiative will help us attract more companies that want to be based in a country committed to delivering a sustainable energy future.”
Docklands 21 aims to ensure that by 2021 Dublin Docklands will represent best-in-class when it comes to resource efficiency activities - saving money, evolving business models and driving long term business competitiveness. Docklands 21 is looking to inspire companies, SME’s, communities, institutions and professional services to improve their consumption profile. It will also encourage participants to increase their resource efficiency and optimise their energy related business operations within the Docklands geographic zone.
Guided by Dublin City Council’s Strategic Development Zone (SDZ) plan, a future 40 hectares of the Docklands still remains to be developed. This includes an estimated €2BN investment in office space and 2,600 residential units.
Paul Clegg, Executive Manager with responsibility for the Docklands Strategic Development Zone remarked :“Dublin City Council is fully committed to delivering the objectives of the Docklands Strategic Development Zone by creating a sustainable world-class maritime quarter with a distinctive Dublin character. It will be a model of sustainable inner city regeneration incorporating socially inclusive neighbourhoods, a diverse, green innovation-based economy contributing to the prosperity of the locality, the city and the country, all supported by exemplary social and physical infrastructure and a quality public realm integrated with the wider city”.
Speaking at the event Brian Motherway, Chief Executive of SEAI said“SEAI is delighted to be working with ISI Centre and Dublin City Council on this fantastic programme. The businesses located in the IFSC have shown tremendous commitment to energy efficiency laying strong foundations for Docklands 21 as it brings in the wider community. Such collaboration is a key driver of innovation and a major enabler for businesses of the future.”
Dublin City Council are also leading the way by investing in LED lighting for the Docklands – in 2013 and supported by SEAI, Grand Canal Plaza was fitted out with LED public lighting. Later this month DCC go out to tender for additional LED public lighting, bringing total investment over 2 years to circa €400,000.
All future Dockland developments will comply with the highest energy efficiency standards and will be guided by the Strategic Development Zone plan.
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Note for Editors:
About the Sustainability Gathering:
Chaired by Pat Cox, Ireland’s third annual Sustainability Gathering defines the sustainability investment ecosystem for Ireland and aims to celebrate Irish Innovation across finance, enterprise and talent activities. It will provide an opportunity for hundreds of investors, entrepreneurs and policy-makers from Ireland and across the globe to explore the opportunities in this field. Ultimately, the event aims to facilitate the transactions that will steer capital towards investments that are environmentally and socially sustainable and also make an attractive return. The 2015 Sustainability Gathering will be spread over three-days with the plenary session taking place on the 24th June in the Printworks, Dublin Castle.
For further information on the event and to consult the agenda please visit http://www.sustainabilitygathering.ie/
About the SEAI:
The Sustainable Energy Authority of Ireland was established as Ireland’s national energy authority under the sustainable Energy Act 2002. SEAI’s mission is to play a leading role in transforming Ireland into a society based on sustainable energy structures, technologies and practices. To fulfil this mission SEAI aims to provide well-timed and informed advice to Government, and deliver a range of programmes efficiently and effectively, while engaging and motivating a wide range of stakeholders and showing continuing flexibility and innovation in all activities. SEAI’s actions will help advance Ireland to the vanguard of the global green technology movement, so that Ireland is recognised as a pioneer in the move to decarbonised energy systems.
The ISI Centre:
The International Sustainability Investment Centre (ISI Centre) is the new name for Ireland’s Sustainability Hub which is fostering capital Investment in Sustainable enterprise. The ISI Centre is aiming to recognize this 26 county cluster spread under one holistic flag that together can attract greater international capital and create new jobs.
‘Greening the IFSC’ (now being rebranded to Docklands 21):
Following SEAI and DCC supported ‘Greening the IFSC’ work, a significant willingness by Docklands based companies to engage in energy and cost saving sustainable measures has been proven to exist.
In brief, the ‘Greening’ was an ‘arm’s length’ review with 22 companies engaged. Representing a combined headcount of 19,753 across 25 buildings, during this pre-Christmas 2014 six week program consumption data (Gas, Electricity, Diesel and Water) was obtained that allowed for the establishment of a clearer understanding of consumption profiles and whether opportunities for reduction existed.
In summary, findings pointed to a number of ‘champions’ who operate quite efficiently, however there are many organisations who could be running much ‘leaner’. In addition a total of 13 participants have engaged in 95 energy conservation measures in the last 4 years. Measure examples include – insulation, lighting controls, office equipment, behavioural and awareness campaigns.
Ultimately, there is considerable scope for energy saving opportunities. For those entities who are already engaged in energy efficiency, there exists even further opportunities.
Docklands Sustainability business related activities
There are also numerous examples of firms based in the Docklands area engaged in the business area of sustainability. Examples include:
- Blackrock Renewable Power, headquartered in Dublin the renewable energy asset management arm of the largest asset manager in the world;
- BNRG Renewables, developing and constructing international utility scale solar PV parks for placement with pension funds and institutional investors;
- Gaelectric, developing, financing and integrating wind energy, biomass, and energy storage in Europe and North America, recently announced with Telsa Energy a collaboration to demonstrate first battery power utility-scale project in Ireland; and
- Kleinwort Benson Investors (KBI), since 2000 KBI have been pioneering environmental investment strategies and were one of the first investment firms globally to launch separate Water and RE Funds, a product line-up that now includes Agribusiness and Cleaner Solutions. KBI’s Water Fund is the most successful globally in terms of performance.