The sharp reduction in energy use during the lockdown is unlikely to help the country reach its emission targets, a prominent think tank has said. The Economic, Social and Research Institute found that the reduced cost of energy across the world and expected increase in demand in the coming months will mean that Ireland is still expected to miss its emission reduction aims. The study, published today, states that Irish GDP is expected to decrease by about 13 per cent this year as a result of the economic disruptions caused by the Covid-19 crisis. There will also be a 15.5 per cent decrease in consumption. Economy-wide CO2 emissions are expected to decrease by 9.5 per cent this year. However, this reduction will be “short-lived as the low current energy prices increase energy demand and emissions rise again in 2021”.
Times 3rd July 2020 read more »