• Current students
      • Student centre
        Enrol on a course/exam
        My enrolments
        Exam results
        Mock exams
        Learning Hub data privacy policy
      • Course information
        Students FAQs
        Student induction
        Course enrolment information
        Key dates
        Book distribution
        Timetables
        FAE Elective Information
      • Exams
        Exam Info: CAP1
        E-assessment information
        Exam info: CAP2
        Exam info: FAE
        Reasonable accommodation and extenuating circumstances
        Timetables for exams & interim assessments
        Interim assessments past papers & E-Assessment mock solutions
        Main examination past papers
        Information and appeals scheme
        JIEB: NI Insolvency Qualification
      • CA Diary resources
        Mentors: Getting started on the CA Diary
        CA Diary for Flexible Route FAQs
      • Admission to membership
        Joining as a reciprocal member
        Conferring dates
        Admissions FAQs
      • Support & services
        Recruitment to and transferring of training contracts
        CASSI
        Student supports and wellbeing
        Audit qualification
        Diversity and Inclusion Committee
    • Students

      View all the services available for students of the Institute

      Read More
  • Becoming a student
      • About Chartered Accountancy
        The Chartered difference
        What do Chartered Accountants do?
        5 Reasons to become a Chartered Accountant
        Student benefits
        School Bootcamp
        Third Level Hub
        Study in Northern Ireland
        Events
        Blogs
        Member testimonials 2022
        Become a Chartered Accountant podcast series
      • Entry routes
        College
        Working
        Accounting Technicians
        School leavers
        Member of another body
        International student
        Flexible Route
        Training Contract
      • Course description
        CAP1
        CAP2
        FAE
        Our education offering
      • Apply
        How to apply
        Exemptions guide
        Fees & payment options
        External students
      • Training vacancies
        Training vacancies search
        Training firms list
        Large training firms
        Milkround
        Training firms update details
        Recruitment to and transferring of training contract
        Interview preparation and advice
        The rewards on qualification
        Tailoring your CV for each application
        Securing a trainee Chartered Accountant role
      • Support & services
        Becoming a student FAQs
        Who to contact for employers
        Register for a school visit
    • Becoming a
      student

      Study with us

      Read More
  • Members
      • Members Hub
        My account
        Member subscriptions
        Annual returns
        Application forms
        CPD/events
        Member services A-Z
        District societies
        Professional Standards
        Young Professionals
        Careers development
        Diversity and Inclusion Committee
      • Members in practice
        Going into practice
        Managing your practice FAQs
        Practice compliance FAQs
        Toolkits and resources
        Audit FAQs
        Other client services
        Practice Consulting services
        What's new
      • Overseas members
        Working abroad
        Working in Australia
        Overseas members news
        Tax for returning Irish members
      • In business
        Networking and special interest groups
        Articles
      • Public sector
        Public sector news
        Public sector presentations
      • Support & services
        Letters of good standing form
        Member FAQs
        AML confidential disclosure form
        CHARIOT/Institute Technical content
        TaxSource Total
        The educational requirements for the audit qualification
        Pocket diaries
        Thrive Hub
    • Members

      View member services

      Read More
  • Employers
      • Training organisations
        Authorise to train
        Training in business
        Manage my students
        Incentive Scheme
        Recruitment to and transferring of training contracts
        Securing and retaining the best talent
        Tips on writing a job specification
      • Training
        In-house training
        Training tickets
      • Recruitment services
        Hire a qualified Chartered Accountant
        Hire a trainee student
      • Non executive directors recruitment service
      • Support & services
        Hire members: log a job vacancy
        Firm/employers FAQs
        Training ticket FAQs
        Authorisations
        Hire a room
        Who to contact for employers
    • Employers

      Services to support your business

      Read More
☰
  • Find a firm
  • Jobs
  • Login
☰
  • Home
  • Knowledge centre
  • Professional development
  • About us
  • Shop
  • News
Search
View Cart 0 Item

News

  • Home/
  • News
☰
  • News
  • News archive
    • 2020
    • 2019
  • Press releases
    • 2022
    • 2021
    • 2020
  • Newsletters
  • Press contacts
  • Media downloads
  • Podcasts Chartered Accountants Ireland
  • Budget day news

Public Policy Bulletin, 19 March 2021

Mar 19, 2021

 

In this week’s Public Policy news, read about Ireland’s growing green finance, the launch of Northern Ireland Apprenticeship Week 2021, the publication of the UK’s Industrial Decarbonisation Strategy and information for UK businesses on the application of Plastic Packaging Tax, and the continuation of the Eurogroup’s stance on government spending to counter the economic damage caused by COVID-19. 

Ireland’s green finance grows further

It was reported this week that green lending at AIB rose to over €1 billion last year - an increase of almost 20 percent on the previous year. The lending was for green mortgages, 0 percent finance for purchases of electric vehicles, and sustainability linked loans, and accounted for 16 percent of new lending at the bank last year. The bank aims to see green lending account for 70 percent of overall new lending by 2030, which is says will significantly help the Government and European Union meet carbon-reduction targets.

The news comes two weeks after Bank of Ireland reportedly raised €750m by issuing its first green bond to fund sustainable projects such as green buildings and energy efficiency, renewable energy and clean transportation. This bond was three times over-subscribed. The bank also has a €2bn Sustainable Finance Fund, with €950m of green loans allocated to homeowners and businesses. 

Green bond sales have surged in recent years, as countries and companies seek to meet the goals of the Paris Agreement and as investor demand rises for ESG (environmental, social and governance) investment opportunities. AIB was the first Irish bank to issue a green bond in 2020, when it raised €1 billion of capital to support lending towards renewable energy projects and green buildings. Ireland’s National Treasury Management Agency (NTMA) had previously entered the market in 2018, raising €3 billion from the sale of its first 12-year ‘green bond’, and it raised an additional €2 billion in 2019. ESB became the first Irish company to sell such debt on the public bond markets in June 2019. 

Employers encouraged to get involved in NI’s Apprenticeship Week

Northern Ireland’s Economy Minister Diane Dodds this week launched the second annual Northern Ireland Apprenticeship Week, which will take place from 26 to 30 April 2021. Speaking at the launch, Minister Dodd encouraged everyone with an interest to get involved, describing the benefits of apprenticeships to employers: 

“Employers can strengthen and grow their teams with an apprentice, thereby developing the skills of our people right across Northern Ireland. Skills are a key priority for me as we begin the process of rebuilding our economy and I am determined to keep apprenticeships at the centre of our long-term strategic plans.’’

Featured as part of the week will be a virtual ‘insight into EY’ event with opportunities to hear from current trainees and to learn about business areas and opportunities.
Apprenticeship partners can get involved by hosting their own apprenticeship events or in collaboration with others. Further information is available here. 

UK businesses can now access information on the application of Plastic Packaging Tax

Information on the application of the new Plastic Packaging Tax has been published this week. The aim of the tax is to provide a clear economic incentive for businesses to use recycled material in the manufacture of plastic packaging and stimulate increased levels of recycling and collection of plastic waste, diverting it away from landfill or incineration. 
The tax is to be introduced in the UK on 1 April 2022 and will apply to UK manufacturers and importers of plastic packaging with less than 30 percent recycled plastic. 

UK Publishes Industrial Decarbonisation Strategy

The UK’s Industrial decarbonisation strategy – the first such strategy published by a major economy – was published this week. The strategy sets out the government’s vision for a prosperous, low-carbon UK industrial sector that can decarbonise in line with net zero commitments while remaining competitive and without pushing emissions abroad.

By covering the full range of UK industry sectors from metals and minerals to food and drink, this Industrial Decarbonisation Strategy focuses on the businesses in the UK industry sectors that account for approximately one-sixth of UK emissions, the manufacturing processes of which must transform if the UK is to meet the ambitious targets set out in the 10 Point Plan for a green industrial revolution published in November 2020. 

Eurogroup to continue supportive economic stance 

Minister for Finance, Paschal Donohoe, TD chaired a meeting of Euro Area Finance Ministers this week to discuss budgetary policy across the bloc. The Eurogroup, of which Minister Donohoe is President, agreed to maintain current levels of government spending to counter the economic damage caused by COVID-19, until the current acute health emergency has passed. The spending amounted to an estimated 8 per cent of Euro Area GDP in 2020, in addition to liquidity schemes of 19 percent of Euro Area GDP. In a joint statement the Eurogroup stated:

‘We are united in our approach that until the health crisis is over and recovery is firmly underway, we will continue to protect our economy through the deployment of the necessary level of fiscal support’.

The Eurogroup has also planned for a ‘gradual shift towards more targeted actions to promote a resilient and sustainable recovery’ for those sectors most in need as the health situation improves.

Read all our updates on our Public Policy web centre

The latest news to your inbox

Useful links

  • Current students
  • Becoming a student
  • Knowledge centre
  • Shop
  • District societies

Get in touch

Dublin HQ

Chartered Accountants
House, 47-49 Pearse St,
Dublin 2, D02 YN40, Ireland

TEL: +353 1 637 7200
Belfast HQ

The Linenhall
32-38 Linenhall Street, Belfast,
Antrim, BT2 8BG, United Kingdom

TEL: +44 28 9043 5840

Connect with us

Something wrong?

Is the website not looking right/working right for you?
Browser support
CAW Footer Logo-min
GAA Footer Logo-min
CCAB-I Footer Logo-min
ABN_Logo-min

© Copyright Chartered Accountants Ireland 2020. All Rights Reserved.

☰
  • Terms & conditions
  • Privacy statement
  • Event privacy notice
  • Sitemap
LOADING...

Please wait while the page loads.