€14 billion fund will only be used for green projects this decade unless economy crashes

New legislation underpinning the Infrastructure, Climate and Nature Fund details how it will be reserved only for ‘designated environmental projects’ if the economy remains stable

Ministers will be able to apply for additional spending on designated environmental projects from 2026 to 2030.

A new €14 billion infrastructure fund will be utilised only for environmental projects this decade, unless there is an economic downturn, according to newly published legislation.

In a major win for the Green Party, the new Infrastructure, Climate and Nature Fund will act exclusively as a reserve for environmental spending, and will only be opened up for other infrastructure projects if there is a “deterioration in the economic or fiscal position of the state”.

The ...