Business support for Ukraine; Ibec letter to Government on energy challenges

The latest CEO Update to Ibec membership from Danny McCoy

Dear member, 

The ongoing invasion of Ukraine by Russian forces continues to create untold suffering. The Irish business community remains committed to addressing the humanitarian crisis and helping those directly impacted in Ukraine. 

In these troubling, uncertain times, it is welcoming to see the generosity of the Irish business community once again come so strongly to the forefront. In the past few days, we have seen a broad spectrum of Irish business extensively engaging with the Department of Justice and the daa to support the re-purposing of the original terminal building at Dublin Airport as a hub for people and families arriving in Ireland having fled from the conflict in Ukraine. 

The support includes ensuring the hub is sufficiently stocked with all the essential items these families require as they begin the difficult process of rebuilding their lives. This work comes alongside vast amounts of generous donations made by Irish business communities to various charities working on addressing humanitarian crises emerging from Ukraine. I would encourage all to continue to support however best they can. 

While secondary to the humanitarian issues, we recognise that the ongoing Russian invasion of Ukraine is creating significant economic challenges for businesses. The conflict has exposed the fragility of Europe’s energy system, its over-dependence on fossil gas from Russia, and failure to decarbonise and diversify its energy mix since the energy crisis of 2008. The invasion has also accelerated energy price inflation, with natural gas and oil prices rising to record levels. 

This morning I wrote a letter to An Taoiseach Micheál Martin (see attached) on the urgent measures required to help businesses navigate exceptional energy cost inflation and enhance Ireland’s energy security and accelerate sustainability measures. 

As I have stated to you previously, Ibec, together with partners in BusinessEurope, are continuing to follow developments closely and are here to help members interpret and assess the practical implications of sanctions, supply chain disruptions and other aspects of the crisis. 

As always, if you have any queries please get in touch.

Kind regards, 
Danny McCoy
CEO 
Ibec