Friday 9 December 2016

Friendly persuasion: environmental tax incentives call

Published 26/10/2010 | 05:00

Leafy interlude: Launching the
PwC survey on environmental
initiatives 'Appetite for Change' were,
from left, Ann O'Connell, sustainability
leader, PwC; Vincent Cleary, MD,
Glenisk Organic Dairy, and Alisa
Hayden, partner, manufacturing
services, PwC. Photo: Maxwells
Leafy interlude: Launching the PwC survey on environmental initiatives 'Appetite for Change' were, from left, Ann O'Connell, sustainability leader, PwC; Vincent Cleary, MD, Glenisk Organic Dairy, and Alisa Hayden, partner, manufacturing services, PwC. Photo: Maxwells

MORE than 75pc of Irish businesses are confused about the tax incentives available for climate change initiatives, according to a new survey from accountancy firm PricewaterhouseCoopers (PwC).

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The survey, conducted among 63 of Ireland's "leading manufacturing companies", explores attitudes to a host of environmental issues, including regulation, legislation and the role of the Government.

Almost nine in 10 companies surveyed -- or 85pc -- accept that climate change will "alter" the way they do business, with about half saying they will need to reduce emissions "significantly".

But while businesses acknowledged that climate change was something they would have to deal with, most expressed confusion and scepticism about how they would adopt to the changing landscape.

Some 77pc of respondents said they were "not clear" on what tax incentives existed to make their businesses more environmentally friendly, or how to apply for them.

The same percentage believed the current tax incentives were "not sufficiently motivating" to make businesses change their behaviour, significantly higher than the 55pc of respondents globally who believed tax incentive policies were inefficient.

The PwC report also solicited views from Irish respondents on what policies could be effective, with 79pc supporting an emissions trading scheme, 77pc in favour of carbon tax and 89pc plumping for tax incentives to help companies become carbon neutral.

When it comes to the opportunities presented by climate change initiatives, 57pc of Irish companies said they could not see any new product or service initiatives, with just 37pc seeing "reputational benefits".

Irish Independent

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