In the summer of 2021, KPMG was commissioned by the Irish Farmers Journal to conduct research to assess the Irish agriculture sector’s ability to decarbonise in line with a range of potential carbon budgets which may be required under the Climate Bill, contributing to the evidence base for Ireland’s journey to net zero by 2050.
The report explores four scenarios, in which the agriculture sector would reduce its emissions by 13%, 18%, 30% and 50% compared with 2018 levels. An additional scenario of 21% was also added, to reflect recent reports that the emissions reductions target for agriculture will be in the range of 21% to 30%. Crucially, the report analyses the economic impact of these scenarios on farm incomes, employment and economic output.
The assessment finds that currently available technologies allow for an 18% reduction across the agriculture sector. Achieving further emissions reductions implies a cut to the national herd, which has wide-ranging economic impacts for farmer incomes, employment, and the wider economy.
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The pace of change is challenging leaders like never before. To find out more about how KPMG perspectives and fresh thinking can help you focus on what’s next for your business or organisation, please get in touch with Russell Smyth of our Sustainable Futures team. We’d be delighted to hear from you.