Businesses could be hit with new climate levies if EU targets missed

Public Expenditure analysis is at an early stage but shows the government is examining the financial consequences of failing to meet mandatory EU climate targets

Paschal Donohoe, Minister for Public Expenditure & Reform. Picture: Getty

Businesses could be hit with new levies if their sectors don’t reduce emissions by enough in the years ahead, the Business Post understands.

The levies would be one possible means of paying for up to €8 billion in compliance costs by 2030 for failing to hit EU climate targets.

The Department of Public Expenditure (DPER) is carrying out an assessment of how the potentially very large costs to the exchequer from missing EU targets could ...