International Trade Dependencies and the Energy Transition

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This report examines Ireland’s international trade dependencies in the energy sector and how these will evolve over the course of the energy transition. Ireland is currently among the most fossil fuel import-dependent countries in Europe. This reliance on imported fossil fuels presents several disadvantages including high levels of CO2 emissions, exposure to supply disruptions and price volatility on international markets, financial outflows, inefficient fossil-fuel subsidies, and negative impacts on air quality and human health.

This report provides recommendations and policy actions to address strategic policy issues relating to the international trading environment in the energy sector, enabling us to better adapt to factors beyond our borders that will shape the energy transition. Five strategic recommendations are put forward by the Council.

Accompanying this report is a supplementary NESC Secretariat research paper titled Strategic Supply Chain Issues & Ireland’s Energy Transition, which examines three thematic areas: the international wind technology supply chain; carbon emissions embedded in trade; and the international biofuel supply chain.