Estimated Costs of Ireland Missing EU Climate Targets: €8–€26 Billion Potential Payments (fiscalcouncil.ie)

• Ireland faces €8–€26 billion in potential EU climate penalty payments.
• Largest cost: Effort Sharing Regulation at €5–€16 billion.
• Implementing planned measures could cut costs to €3–€12 billion.

"A joint report by the Irish Fiscal Advisory Council and the Climate Change Advisory Council estimates that Ireland may face €8–€26 billion in payments to EU partners if it fails to meet its climate targets. The largest cost comes from the Effort Sharing Regulation (ESR) at €5–€16 billion. If the government implements its planned additional measures, costs could fall to €3–€12 billion. The report stresses the urgency of action to avoid hefty penalties while also reaping social and economic benefits."