Taoiseach to open Green Finance Summit
Published in Business World
June 27, 2012
The Taoiseach is to open the International Sustainability Summit Enabling, Financing and Delivering Sustainable Growthat the Volvo Ocean Race on July 5, bringing together Irish and global leaders in the field.
Green IFSC, an output of the Clearing House Group of the Department of an Taoiseach and tasked with accelerating the growth of green finance in Ireland, has invited 100 top financiers and enterprise players in the sector to take the journey west.
The International Sustainability Summit is taking place in the Global Village at the Volvo Ocean Race finale which has been built around the theme of sustainability, showcasing what Ireland has to offer across four pillars of Food, Marine, Innovation and Green.
Stephen Nolan, Chair of the Global Village Green pillar and Executive Co-ordinator of the Green IFSC, explained: “Just looking at green energy investments alone there has been has been dramatic growth worldwide with some $263 billion invested in 2011. This growth trend is set to continue with the global move to a low carbon economic model set to be as significant as the Industrial Revolution. Ireland has every resource needed to be at the centre of this emerging marketplace, attract finance and create jobs.”
He added that the International Sustainability Summit taking place at the Volvo Ocean Race, which is expected to attract some 600,000 visitors to the Galway environs and more than 1.5 billion viewers worldwide, “was an excellent platform to showcase Ireland’s credentials in the ever growing sustainability sector”.
The Cleantech Ireland report, recently launched by Ernst & Young, estimated that the cleantech sector alone has huge potential for the country and estimates it could create nearly 80,000 direct and indirect jobs through specific national schemes such as retrofitting, renewable energy and construction and boost GPD by E3.9 billion by 2020.
Others participating in the event include: former UN Climate Change Chief, Yvo De Boer; Jens Pers, Head of Global Environmental Investment Strategy, Kleinwort Benson Investors; Sean Kidney, Chairman Climate Bond Initiative; Michael White, Partner, EnerCap Capital Partners; Peter Heffernan, CEO Marine Institute; John McKiernan, Partner NovusModus; Minister Pat Rabbitte, Department of Communications, Energy & Natural Resources; Brian Motherway, CEO, Sustainable Energy Authority of Ireland; Alex O’Cinneide, Head of Investment, Masdar Capital (UAE Cleantech Fund); David Gunning, CEO, Coillte; Barry O’Flynn, Ernst & Young Head of Cleantech & Sustainability, Ireland.