Sunday 28 May 2017

Green light for eco-friendly financial centre

At Government Buildings yesterday for the launch were (from left): Padraig Rushe (BoI Corporate Banking), chair, IFSC Banking and
Treasury Group; Taoiseach Brian Cowen; and David Guest (Ulster Bank), chair, IFSC Green Steering Group
At Government Buildings yesterday for the launch were (from left): Padraig Rushe (BoI Corporate Banking), chair, IFSC Banking and Treasury Group; Taoiseach Brian Cowen; and David Guest (Ulster Bank), chair, IFSC Green Steering Group

THE Government is backing a new drive to create a Green International Financial Services Centre (IFSC) that hopes to forge a successful niche in carbon trading.

The new Green IFSC, which will receive €7m over the next three years from the Government, has the potential to create 7,000 jobs and put Ireland at the heart of green business, according to Taoiseach Brian Cowen.

He said the Government would target environmentally related financial services as a means of generating high-value employment and revenue growth.

The new Green IFSC hopes to attract companies that lead the way in the management of carbon and green finance.

A business plan for the project is expected to be finalised by the end of March.

Financial Services Ireland, the IBEC group that represents financial services companies, today welcomed the Green IFSC initiative.

Irish Independent

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