Farmers must receive an “attractive financial reward” for the provision of “ecosystem services”, the report of the Independent Advisory Committee on Nature Restoration has recommended.

The report, seen by the Irish Farmers Journal, also calls for the provision of a dedicated fund to finance nature restoration, and insists that nature restoration actions must be prioritised on public lands.

“The Government must ensure there is an attractive financial reward for the provision of ecosystem services, particularly with regards to flood management, water quality, and the protection and restoration of nature, through action and results-based payment systems,” the report states.

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“This will require a tailored, locally-based approach across sectors and must include engagement with farmers, fishermen and foresters,” it adds.

Ireland spends the lowest relative amount among all EU member states on nature

Crucially, the report maintains that nature restoration payments “must be in addition to current payments and must not compete with CAP payments”.

While the report does not specify the overall level of finance required to support nature restoration actions, it claims that “an adequate and dedicated multi-annual fund” is needed, and points out that complying with the Nature Restoration Law will cost Ireland €450-700m per year.

The report also notes that “Ireland spends the lowest relative amount among all EU member states on nature, at only 0.9% of GDP as compared with the EU average of 2.2%”.

Although the stakeholder report accepts that public funding will be the main source of investment for nature restoration measures, it calls on the Government to put in place a structured programme of incentives and benefits to attract private finance.

Citing a joint report from the Climate Change Advisory Council and the Irish Fiscal Advisory Council which estimates that Ireland could potentially be facing fines of €8bn-€26bn for missing targets related to climate and nature, the report warns of “even higher penalties” in the future if Ireland fails to meet the targets outlined by the EU nature restoration regulation.

It recommends that nature restoration should be prioritised on public lands, with the land banks controlled by State bodies identified as offering potential in this regard.

The Government has an opportunity to highlight the protection and restoration of nature at scale in Ireland on our public lands

“While the Irish State is a big landowner and is responsible for national obligations, up until now the actions for nature restoration have fallen heavily on private landowners,” the report points out.

“To demonstrate its commitment and leadership to protecting and restoring nature, the Government has an opportunity to highlight the protection and restoration of nature at scale in Ireland on our public lands,” it adds.

“The measure of our ambition for nature on public lands will determine the success of meeting the obligations outlined by the EU nature restoration regulation and reversing nature decline in Ireland.”

It also recommends that lands which are earmarked for nature restoration measures should continue to be considered agricultural ground and retain its eligibility for CAP and other payments where existing supports are already being paid on these lands.