AIB Manufacturing Outlook Report 2022
The second in AIB’s 2022 series of Sector Outlook reports, is focused on sustainable manufacturing.
AIB partnered with key industry stakeholder Irish Manufacturing Research (IMR) to undertake a survey to assess the progress of the sector in its transition to a more sustainable footing. The report features insights from AIB’s sector team as well as industry commentary from Micheal Cassidy (Chief Technology Officer - IMR), David McCormack (Director of Sustainable Manufacturing - IMR) along with examples of Capital Markets customer progress in the space from Niall Fay (Director - Grant Engineering) and Rosy Temple (CEO - Magee Clothing).
Some of the key findings within the report include:
- The government’s ‘Climate Action Plan’ requires industrial emissions to drop by 40% by 2030 whilst 64% of manufacturers do not have a formal sustainability plan in place
- Key hurdles to change include cost, lack of management time and lack of expertise in the area
- Positively, the vast majority of manufacturers view sustainability as a business opportunity which will improve their bottom line, with a significant proportion planning to introduce sustainable initiatives in their business in the next 12 months