Legislation setting up €500m climate action fund to be published

Fund will use levy on oil companies to invest in green projects over the next decade

Updated: Mon, Jun 22, 2020, 07:02
Pat Leahy
The National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2019 is being published by Minister for Climate Action Richard Bruton, who said the State had an “enormous transition” to make

The National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2019 is being published by Minister for Climate Action Richard Bruton, who said the State had an “enormous transition” to make

The Government will publish legislation on Monday to establish a €500 million climate action fund, using the proceeds of an existing levy paid by oil companies for climate action projects.

The legislation, which will be brought to the Dáil later this year if a government is formed this week, would establish a fund to invest in projects that would help decarbonise the economy over the next decade.

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