Two thirds of Ireland’s energy sector believe that the government’s delivery of offshore wind targets is either extremely challenging or completely unrealistic, according to a survey by law firm Mason Hayes & Curran.
The survey of 114 respondents was carried out ahead of the firm’s Annual Energy Conference, Energy Security in a Net Zero World, which is being attended by c.400 people online and in person at the Shelbourne Hotel in Dublin today.
The survey also found that more than half (54%) think the 75% emissions reduction target set for the electricity sector by 2030 is unachievable.
The same proportion expressed the view that the government’s target of reducing agriculture emissions by 25% by 2030 is ‘too modest’.
Planning risk and grid infrastructure/management are seen as the greatest challenges to offshore wind delivery in Ireland.
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Policy uncertainty is seen as the biggest risk for investors considering investing funds into the renewable energy asset class, while attractive return potential from the asset class is seen as the biggest incentive.
Minister Ossian Smyth told delegates: “This energy crisis is not about a crisis in renewables, it’s not about shortages in the renewable sector. It’s a fossil fuel crisis. We haven’t decarbonised fast enough.”
Keynote speaker Dr Gabrielle Walker, author, climate strategist and former Climate Change editor at The New Scientist, described climate change as the defining challenge of our time.
“The scale of the task is alarming, but we know what is happening and what needs to be done,” she told attendees. Far-sighted businesses are already leading the way in this essential transition. Governments and businesses in partnership now need to face the barriers to action head-on, and work collectively to solve them.”
Mason Hayes & Curran partner Eoin Cassidy said: “Providing a forum where industry leaders could discuss how all the elements of the sector can work together to build solutions to Ireland’s energy security and transition challenges is an important focus of our Energy Conference.
“We not only identified the key issues and risks faced by our clients in relation to the offshore wind supply chain, financing renewable projects and ESG compliance but also explored key reforms required from government to drive transition and deliver energy security for Ireland.”
Image: Keynote speakers Gabrielle Walker and Minister Ossian Smyth, Minister of State with responsibility for Public Procurement, eGovernment and Circular Economy, are pictured with Mason Hayes & Curran partner Muireann Hernon at the firm’s annual Energy Conference. Picture Conor McCabe Photography.
