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Did you know that until mid-2026 Ireland will receive a total of €915 million from the EU Recovery and Resilience Facility (Next Generation)? These funds will be channelled on a national level via the Irish National Recovery and Resilience Plan (NRRP) which has 3 priority areas:
🚀 Advancing the Green Transition
👩💻 Accelerating and Expanding Digital Reforms and Transition
💼 Social and Economic Recovery and Job Creation
Read this short blog article from our ESG Policy Analyst Cole Ezeilo to get an overview of where these European funds originate and how businesses in Ireland who are clients of Local Enterprise Offices, Enterprise Ireland, IDA Ireland and Údarás na Gaeltachta can avail of subsidies to support their hashtag #GreenTransition.
Colectivo is an official service provider of the Green Service Providers Directory, used by prominent bodies like those listed above. If your business is seeking to advance in their sustainable impact journey and would like some more information to see if you qualify for hashtag #GreenTransition funding, don’t hesitate to reach out to hello@colectivo.ie or visit our website for more details.
With help from Ireland’s National Recovery and Resilience Plan (NRRP), Irish businesses can receive government funding to assist with implementing more impact-focused and environmentally aligned practices and programs.
As a collective society, we have all seen and felt the changes in our lives as a result of the Covid-19 pandemic, however very few of us are truly aware of the extensive efforts taken by governments to ensure holistic recovery from these tough times.
One of such efforts from the European Union has been the Next Generation EU recovery package – with a total value of €750bn offering grants and loans to EU Member States – and the fundamental component of #NextGenEU being the Recovery and Resilience Facility which helps to transpose this funding onto a national level.
In the Irish context, Ireland will receive a total of €915 million from the Recovery and Resilience Facility via the Irish National Recovery and Resilience Program to support investments until mid-2026.
What does this have to do with Irish Businesses?
On a national level, the Irish National Recovery and Resilience Plan (NRRP) is based on 25 investment projects and reform measures spanning across 3 priority areas:
Advancing the Green Transition
Accelerating and Expanding Digital Reforms and Transition
Social and Economic Recovery and Job Creation
Amongst these areas, we want to shed light on the first of Advancing the Green Transition as it is specifically relevant to Irish businesses hoping to advance in their sustainability journey. With an accompanying budgetary value of €518m, this priority area contains key investments with the acute focus of effectuating tangible change honoring the country’s commitment to a 51% reduction in overall greenhouse gas emissions from 2021 to 2030 (compared to 2018 levels) and carbon neutrality by 2050.
Such investments include The Green Transition Fund, officially launched in 2022 with the intention of supporting companies at “every step of their decarbonisation journey – from initial planning and capability building to investment, research and innovation. It aims to support companies as they prepare for a low-carbon, more resource-efficient future.” Enterprise Ireland.
“The Green Transition Fund supports companies at every step of their decarbonisation journey – from initial planning and capability building to investment, research and innovation. It aims to support companies as they prepare for a low-carbon, more resource-efficient future.” - Enterprise Ireland .
The Fund amounts to a monetary value of €55 million, and exists in harmony with Ireland’s annually updated Climate Action Plan – originally created in 2021 by the Department of the Environment, Climate and Communications. It comprises The Climate Planning Fund for Business alongside The Enterprise Emissions Reduction Investment Fund, both of which will be operating until 2026.
Entities such as Enterprise Ireland, Local Enterprise Offices (LEO), IDA Ireland and Údarás na Gaeltachta have been identified as key intermediaries and providers helping to facilitate this funding and support throughout the diverse and innovative enterprise ecosystem in Ireland. They have partnered with various service providers and expert advisors to ensure that companies are able to receive maximum benefit throughout this process.
Colectivo | Collective Impact is an official service provider of the Green Service Providers Directory, used by prominent bodies like those listed above. If your business is seeking to advance in their sustainable impact journey and would like some more information to see if you qualify for this funding, don’t hesitate to reach out to hello@colectivo.ie or visit our website for more details.
Want to hear more about the landscape of sustainable policy and funding opportunities? Follow Colectivo | Collective Impact to learn more and reach out if you are interested in creating something together!
About the Author
Cole Ezeilo is a social entrepreneur, creative, and ESG policy analyst with a background in International Relations. Through his experiences with social enterprises and impact measurement work with NGOs, Cole strives to add value by implementing sustainable and creative solutions for problems faced by society today. He is also a published freelance journalist, and an opinionated lover of music, film, and culturally-rooted food.