Financial incentives to promote a resource efficient Irish economy

Project Description

This project will identify international best practice in creating financial incentives to attract capital to the resource efficient economy. Specifically, the project will present a proposal and how financial incentives employed internationally could be effectively applied within the existing Irish legislative and financial system. The project will also examine the effectiveness of existing Irish financial incentives in attracting investment to the resource efficient sectors. The Enterprise Investment Scheme (EIS, formerly the Business Expansion Scheme) has been successful in attracting investment in the wind and other renewable sectors. Using case studies of international best practice for financial incentives in targeted sectors, the project team will identify ways the EIS scheme could be modified to attract further capital to resource efficient sectors in Ireland. Furthermore, the proposed funding instrument will be socially-inclusive as it will be fiscally-incentivised and targeted at individuals. Engagement with key stakeholders will ensure proposed funding instrument will be effective in attracting capital. Investment in resource efficient assets will not be forthcoming or the scale of investment will be lower than policy makers' desire in the absence of such incentives.