So, at least we are getting clarity on the targets for carbon reduction that the Irish Government is likely to set for the various sectors.

The Irish Farmers Journal commissioned a report from KPMG, which has put the consequences of various policy options out for discussion and I haven’t seen anyone disagree with its numerical conclusions.

It is now clear that the final figure for Ireland’s agricultural reduction in carbon emissions will be between 18% and 30% by 2030.

What baffles me is why New Zealand put forward a 10% reduction over the same period and a possible 24% reduction by 2050 and nobody bats an eyelid?

Production systems

Our two systems of production are quite similar, with both our beef and dairy sectors grass-based and both dependent on world markets. It is also evident that we need a clearer policy on who owns what carbon and when.

To say that if a farmer puts up a windmill, let alone plants a woodland, that the carbon saving should go to the national account rather than to the farmer is bizarre.

Ireland is not the only place having these debates, but I have not come across anywhere where the policy lines are being drawn so clearly to exclude farmers. The contrast between our approach on agriculture and corporate tax is striking.

It was clear that Secretary Yellen, as well as the EU, accepted Ireland’s position and arguments and the final conclusion reflects that acceptance

Listening to Minister Pascal Donohoe in conversation with US treasury secretary Janet Yellen on Monday, it was quite clear that Minister Donohoe had a very clear idea what kind of international corporate tax system was in Ireland’s interest.

He held out against EU and international pressure until an acceptable compromise emerged. It was clear that Secretary Yellen, as well as the EU, accepted Ireland’s position and arguments and the final conclusion reflects that acceptance.

The contrast with our policy in the climate debate could hardly be greater, where we have adopted a masochistic approach of putting forward a policy that, at a minimum, will be hugely expensive and one that sets us apart from policies being pursued by other EU countries.

One wonders if the Green Party agenda is overriding rational thought in Government.