Finance « Thurles Information

Barriers To Investment In Climate Adaptation.

Barriers to investment in climate adaptation explored in new joint report by Climate Change Advisory Council and Central Bank of Ireland.

A new joint report by the Climate Change Advisory Council and the Central Bank of Ireland has warned that the deployment of climate adaptation finance is below what is required to address the escalating risks posed by climate change. Without action, the impact of extreme weather events will test Ireland’s economic and financial resilience.

While there is significant ambition to reduce emissions, focus must also be applied to addressing the impacts of climate change that are already emerging by enabling investment in climate adaptation projects at both national and local levels. Many adaptation projects, particularly at local levels, are seen as too small or too uncertain to secure funding, even though their benefits are clear and long-lasting.

Deep rooted barriers to investing in climate adaptation include a lack of locally relevant climate risk data, high upfront costs of adaptation projects, fragmented access to funding, and the absence of clear investment pathways that can attract private capital.

The report emphasises the importance of credible transition plans to build resilience in the financial sector and contribute towards a resilient economy. Actionable solutions include transition planning that incorporates adaptation, and the development of scalable, investable project models, and a register of successful adaptation projects to build momentum and share solutions.

Insurance is a key part of adaptation finance but protection gaps (where businesses, individuals and communities lack adequate or affordable insurance) pose a significant barrier to resilience. The report notes the need to address the insurance protection gap as set out in the Action Plan for insurance reform. This requires a long-term strategic approach to flood insurance with enhanced data sharing and a clear recognition of adaptation measures, as well as ensuring solutions are complemented by continued investment in measures such as flood defences to reduce risks and safeguard long-term sustainability.

Another challenge in assessing the scale of investment required is the absence comprehensive estimates of the short- and long-term costs of climate adaptation. The report proposes a National Adaptation Finance Strategy to attract private and EU funding which should build on improved estimates of long-term investment needs.

Commenting, Professor Mr Peter Thorne, Chair of the Climate Change Advisory Council’s Adaptation Committee said, “The recommendations within this report come at a critical time with the ever increasing frequency and impact of extreme weather events which are wreaking havoc across communities and the economy. The development of resilient infrastructure, storm resistance in coastal defences, drought-resistant crops, nature-based solutions, early warning systems and community resilience building would be transformative for our society saving lives and protecting livelihoods. By addressing barriers, mobilising public and private finance, and implementing innovative solutions, Ireland can build a more resilient economy and society while reducing risks to the financial system.”

Mr Vasileios Madouros, Deputy Governor of Monetary and Financial Stability for the Central Bank of Ireland, said, “Climate change poses risks to the financial system and the long-term stability of our economy. We’re already seeing the impact extreme weather has on communities, businesses and infrastructure, and we recognise the importance of addressing climate-related risks, including the growing need for investment in adaptation measures. This joint report proposes actionable steps to build resilience in the economy by increasing the deployment of adaptation finance in Ireland. Safeguarding Ireland’s financial stability in the face of a changing climate requires collaboration across public and private sectors, enabling investment at both national and local levels, and further assessing the short and long-term costs of climate adaptation.”

Five Tipperary School Transport Operators Plead Not Guilty To Competition Charges.

Five operators of bus and taxi services In Tipperary appeared today in a Competition and Consumer Protection Commission led prosecution at the Central Criminal Court in Dublin, where they pleaded not guilty to alleged anti-competitive conduct in the school transport sector.

Defendants Mr Andrew Walsh of Derrymore, Roscrea; Mr Raymond Heney of Camas, Cashel; Mr Noel Browne of Bansha; Mr Larry Hickey of Ardmayle, Cashel, and Mr Anthony Flynn of Golden Road, Cashel, all resident in Co Tipperary, face a single charge under the Competition Act 2002, alleging that each engaged in a concerted practice between November 1st 2014 and December 31st 2016, aimed at preventing, restricting or distorting competition in the provision of school-transport services in counties Tipperary, Limerick, Clare, South Galway and Waterford.

Presiding Judge Mr David Keane empanelled a jury of seven men and five women to hear the case, which is expected to last up to six weeks.

The prosecution arises under Section 4(1) of the Competition Act 2002, which prohibits any agreement, decision or concerted practice, whose object or effect is to prevent, restrict or distort competition in trade.

The defendants’ pleas of not guilty mean the matter will now proceed to full trial, where the court will examine evidence including tenders, contracts, communications between operators and the structure of the school transport market.

Private operators bid for contracts to provide specific routes as part of the scheme. When operators agree or coordinate how to bid (or not bid) for these contracts, the effect can be to reduce competition: fewer bidders means less pressure on prices and potentially lower quality of service.

The national competition regulator, Competition and Consumer Protection Commission (CCPC) is empowered, under the Competition Act 2002, to prosecute concerted practices or agreements between competitors which have the object or effect of restricting competition.

The school-transport scheme involves significant public expenditure. For example, in a recent review the cost was estimated at about €509 million for the 2024 year. If competition is distorted in the contracting of these services, the State and ultimately families and taxpayers may face higher costs or receive less efficient service. Coordinated bidding or allocation of routes undermines the competitive tendering process.

By pursuing criminal cases in this domain, the Consumer Protection Commission (CCPC) is signalling that collusion in public-service contracts (including school transport) is taken seriously.

Major Funding Secured For New 5 km Thurles Loop Walk.

€447,300 awarded to extend walking route via Mill Road, in Thurles.

It is with great pleasure that the community of Thurles welcomes a landmark advancement in local amenities: a generous fund of €447,300 has now been secured by Thurles Lions Club to realise the long-awaited 5 km looped walk extension, starting from the heart of Thurles town-centre before meandering along the N62 national route to the “Lady’s Well” path stile entrance, positioned some 100 metres north of Thurles Golf Club. By following Lady’s Well main path, the rambler will then join the route at Mill Road (formerly Manor Mill Road, latter the ‘rat run’ or current inner relief road, for vehicles avoiding Thurles town) and the road locally known, affectionately, as “Fat Arse Boulevard”.

This funding is part of a number of Tipperary projects that have been allocated more than €900,000 between them to improve outdoor recreation facilities, is a minor part of a national fund of €16.5 million for 63 projects.

**Footpath plans advance for Mill Road in Thurles.**

Following the first publication of the planning application by Tipperary County Council, on 24th July 2024, same seeking the installation of a footpath on the Mill Road corridor, the project has now progressed significantly. Land access has been graciously granted by local residents along Mill Road, with, we understand Tipperary Council bearing the cost of acquisition. This co-operation paves the way for the looped walk to become a safe, well-designed pedestrian route for the community.

When complete, the new path will link the town centre securely with the outskirts of the town, via an attractive, town-to-country route, promoting greater recreational walking, better access for all ages, and contributing to the well-being and amenity of the Thurles area.
Observers have welcomed the scheme as a vital safety upgrade, especially along Mill Road, where pedestrian access had long been compromised by traffic speeds and inadequate parking provision.

When the local TDs catch wind of this scheme, their press releases will no doubt exclaim with great gusto how utterly thrilled they are to have “secured” this funding, for a project they only discovered existed yesterday via their inbox.

This awarding of funding marks a significant milestone, after one year and three months since the application’s initial publication, and confirms a concrete step towards long-envisioned connectivity for the region. Next steps will include detailed design, boundary works, signage, landscaping (including new native hedging) and final construction of the concrete 1.8-metre wide footpath along the route from the existing built-up path towards the bridge at Lady’s Well.

Residents, walkers, cyclists and families in Thurles now have cause to look forward with genuine excitement, the promise of “Fat Arse Boulevard” becoming a cherished walking loop is now indeed on its way to realisation.

Residents can find, view and download the initial plans and reports HERE. (Scroll to the bottom of the link provided).

Write-Off’s On Welfare Payments Total More Than €15 Million Over Two Years.

Irish Taxpayers have carried the cost of more than €15 million in incorrect welfare payments over the past two years.

In the year 2024 alone, the Department of Social Protection (DSP) wrote off €7.97 million, up from €7.64 million in 2023. These write-offs occur when overpayments are deemed irrecoverable; for example, where the recipient has died or the cost of pursuing same outweighs likely recovery.

Approximately 75% of the write-off’s relate to individuals who are deceased; smaller amounts (typically under €100) are also cancelled when recovery is judged uneconomical. The DSP operates a structured debt-management policy, issuing annual statements to claimants and reserving the right to reopen a case, if a recipient’s financial circumstances improve.

Of the 2024 total, nearly €3.1 million was attributed to non-contributory state pensions, while some €1.44 million related to the contributory state pension, and around €841,000 to illness benefits. Other six-figure losses include invalidity pensions, jobseeker’s benefit, widows/widowers’ pensions and one-parent-family payments.

Over the same 2023-24 period, welfare overpayments in total amounted to €273 million, with a marked rise from €115.8 million in 2023 to €157.5 million in 2024. These overpayments stem from instances of false or misleading information by claimants, as well as errors by either applicants or the department itself.

The DSP states that overpayments in any year account for less than 0.5 per cent of total welfare expenditure. In 2023 the department recovered more than €87 million, and in 2024 the figure rose to just over €100 million.

Where overpayments occur, the DSP seeks full recovery, while balancing collection efforts with fair treatment of claimants with limited means. Deductions of up to 15 per cent of ongoing welfare payments may be made. If a debtor is in full-time employment and refuses to repay, an “attachment of earnings” order may be considered. The department emphasises it will strive to avoid causing “undue financial hardship” in any repayment plan.

Thurles Lions Club Leads New Heritage Trail Initiative In Thurles.

Thurles Lions Club has secured €29,600 in grant support under the LEADER Programme toward the development of a new heritage trail in Thurles. The initiative will offer both visitors and local residents a looped walking route through the town centre, complete with interpretive signage and digital access to the town’s rich history and heritage.

**Members of Thurles Lions Club at the Official signing of the Thurles Heritage Trail were:**
**Back Row:** *Chris Delahunt, Pat Donnelly, Gary Roche, Una Crowley, Eamon Medley, John McCormack, Anne O Dwyer, Anne Bolton, William McDonagh, Tom O Toole, and Paddy Hickey.*
**Front Row:** *Jane Ryan (Thurles Tourism), Margaret McCormack, Pat Shanahan, Mary Slattery and Louis Curley.*

The project will be delivered in two phases:
Phase One involves the identification of the route, the design of the signage, translation of the sign content, consultation with the public and the development of the online component. The total cost of Phase One is €39,600, of which the Thurles Lions Club will provide €10,000 in matching funding to be achieved through public fundraising.

Phase Two will proceed with the manufacture and installation of the physical signage at strategic locations around the town core, and this element will be funded by the Tipperary County Council via the Thurles Municipal District.

**Photographed at the Official signing of the Thurles Heritage Trial**.
**Photo L to R**: William McDonagh *(Thurles Lions Club)*, Patrick Killeen *(North Tipperary Development Company)*, Pat Shanahan and John McCormack *(Thurles Lions Club)*.
*Pic: Louis Curley*

Each sign will incorporate a dedicated QR code, enabling users to explore detailed online content about the town’s heritage and history as they walk the trail.

“The trail will not only enhance Thurles’s visitor offering, but it will also give local people an attractive recreational amenity that connects them with the heritage of their town,” said a spokesperson for Thurles Lions Club.

The project builds on the club’s commitment to supporting community infrastructure and promoting sustainable tourism in Thurles. Once fully implemented, the heritage trail will provide a memorable, interactive experience that combines physical way-marking with digital storytelling.