LEO VARADKAR HAS said that a €55 million green fund to help businesses move away from fossil fuels will help combat climate change.

The business package is to encourage firms to move towards more sustainable alternatives.

Varadkar along with Minister of State for Biodiversity Pippa Hackett and Minister of State for Law Reform James Browne announced the details of the funding.

The ministers visited the Iveagh House Hotel in Dublin, which Vardakar said has “embraced the future” in saving on energy costs and tackling climate change.

“With the help of Government they have invested in a heat pump here, which has considerably reduced the cost of energy,” Varadkar said.

“That was real forward thinking because they did it at a time when energy prices were not as high as they are now and as a Government we are very keen to help businesses reduce their energy costs and at the same time help in our efforts to combat climate change.

“We’re announcing funding of 55 million euros for businesses and essentially funding can be broken down into two categories.

“One set of funding to give businesses expert advice on what they need to do to reduce their energy costs and emissions and develop a business plan.

“Capital funding and direct grants to invest in things like smart metres and heat pumps, things that will reduce energy bills but also at the same reduce emissions and help us combat climate action.”

Hackett said the hotel was ahead of its time.

“We were in the basement looking at the heat recovery system, it’s very warm down there so it’s recovering a lot of heat,” she said.

“It’s great to have the foresight to do that. Businesses are coming out a difficult period and have challenges ahead with climate action and how we address that.

“The fund today is a real big step for enterprise and small and medium businesses to embrace that challenge.

“It’s a very healthy budget. I think it’s going to be used well for businesses and any assistance is really important.”

Browne said: “As someone who originally trained in the hotel industry, I am really delighted to see the hotel industry really lead on this.

“The funding is to help businesses be part of that overall agenda of developing our country and our nation to protect future generations in the face of climate change.”