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Future Impacts of Climate Change Measures on Irish Industry

This article by Dr. Brian Motherway explores the implications of climate change measures for Irish industry, focusing on key mechanisms like carbon tax, carbon dioxide regulations, and EU trading agreements. The piece discusses the responsibilities of industries under the IPPC, upcoming carbon tax implications, planning decisions, and how these regulatory frameworks will influence energy and greenhouse gas emissions. It examines the complexities businesses face regarding tax levels, emission limits, and the potential market mechanisms at play, anticipating both challenges and opportunities as Ireland pursues its climate goals.

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Future Impacts of Climate Change Measures on Irish Industry

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  1. Climate change measures What’s in store for Irish industry Dr Brian Motherway Motherway Begley Ltd

  2. Climate change mechanisms Carbon Tax Carbon Dioxide as a pollutant IPPC EU Trading Agreements

  3. IPPC • Protection of the Environment Bill 2003 • Energy and greenhouse gases in IPPC • BATNEEC to BAT • Emission Limit Values • ELVs for CO2?

  4. Climate Tax • Minister for Finance announced carbon tax in Budget 03 • Due to come in end of 2004 • Planning has started in earnest • Design decisions to be made

  5. Approaches to carbon tax • What to tax • Who to tax • Where to tax • Tax levels • Revenue

  6. Negotiated agreements • Likely complementary measure to make tax more equitable • Various design options • Pilot project ongoing • Main agreement types, and trading allocation, have much in common

  7. For the company What would it feel like? • Paying identifiable new taxes on fuels • Possibly not a direct tax, but a price rise on electricity • Exemptions (agreements etc)

  8. EU Trading • CO2 Trading • Draft directive agreed by Council of Ministers in December 2002 • To be passed by parliament this year (Summer?) • First tentative trades already happening

  9. EU Trading Timetable • Directive transposed Dec 03 • Allocation plans Apr 04 • Phase 1 trading commences Jan 05 • Phase 2 Trading Jan 08

  10. Who’s on first? Annex 1 participants: • Generators • Certain IPPC Categories • Cement • Glass • Ceramics (brick, stone, …) with size criteria • Plants with boilers over 20MW • Certain opt out possibiliites for phase 1

  11. What happens? • Initial allocation • Historic, BAU, Benchmarking • National registers, monitoring • Trading • Compliance and verifications • Reckoning • Fines - €40/T, €100/T

  12. For the company • Small number of Irish companies likely to be directly involved • Allocation likely to be difficult • Much uncertainty • More predictions of low prices than of high prices • Most companies more affected by involvement of generators

  13. UK trading experience • Climate change levy and agreements • Carbon trading scheme • Interaction between mechanisms • Liquidity and price • Compatibility with EU scheme?

  14. FAQs • Credit for early action • Accounting and verification • Absolute vs relative emissions • CHP and renewables • Tax and trading

  15. Carbon Tax IPPC EU Trading Agreements Summary • CO2 as a pollutant • Targets are difficult • Four main market mechanisms • Companies could be in more than one category of regulation • Interactions unclear

  16. Climate change measures Brian Motherway brian@motherwaybegley.ie

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