Rehabilitation of peatlands, the electrification and upgrade of Cork commuter rail, and retrofitting of residential and public buildings are just some of the climate objectives contained in Ireland's Recovery and Resilience Plan (RRP), which was adopted today by the European (EU) Commission.

Ireland is set to receive €989 million under the EU's €800 billion, post-Covid-19 recovery fund, NextGenerationEU.

EU Commission president, Ursula von der Leyen travelled to Dublin today, where she met with An Taoiseach, Micheál Martin to mark the occasion.

This funding - grant based and in tranches - will be paid out over the next five years.

Did you know? Ireland's was the only EU economy to grow in 2020!

Ireland's RRP was assessed based on a number of criteria such as whether the investments and reforms set out in the plan support the green and digital transitions; strengthen growth potential; job creation; and economic and social resilience, among other things.

The assessment also found that none of the measures included in the plan significantly harm the environment.

In addition to the 42% climate-objective allocation, Ireland's RRP will devote 32% of its total allocation to measures that support the digital transition.

This includes enhancing connectivity, supporting the digitalisation of the public administration and of enterprises and contributing to up-skilling in the educational system.

Ireland's plan also provides €155 million for the renovation of residential and public buildings and to support businesses that improve their energy efficiency to help reduce the country's greenhouse gas emissions.

PaymentsThe first tranche of €400 million will be paid out in the period up to the second quarter of 2022. Then, two more payments of €200 million each will follow into the latter part of 2022 and into 2023. The remainder will be paid in 2024, 2025 and the final sum will be paid in 2026.

Commenting, President von der Leyen said:

"As you say in Ireland, a good start is half the work.”

Climate objectives