Ireland has pledged its commitment to environmentally-friendly business with the establishment of a green financial services hub. Eleanor MacDonagh and Mark White describe the hopes for the  country's economy

On 21 January 2011, then Taoiseach (Irish Prime Minister) Brian Cowen announced the Irish Government's support for the establishment of an Irish Green International Financial Services Centre (IFSC). The purpose of the Green IFSC will be to target environmentally-related financial services as a means of generating high-value employment and revenue growth in Ireland.

In his announcement, Taoiseach Cowen indicated that by supporting the establishment of the Green IFSC, Ireland is positioning itself as a leading financial services centre for the management of carbon and the provision and servicing of green finance including, for example, funding of renewable energy generation, energy efficiency measures, carbon credits trading, water and waste projects.