A new report on transport in the Republic of Ireland has reported that road haulage is responsible for 20 per cent of the state’s greenhouse gas emissions.
The sector has been challenged with reducing those emissions by 50 per cent by 2030, requiring massive investments by businesses in the sector.
The report by leading trade credit insurer, Atradius, gives a detailed look at what challenges the transport sector is facing, and insights including:
- Since Brexit, direct traffic to Europe is up 94%
- Transport sector challenges, including fuel prices, labour shortages, and interest rate charges, are predicted to cause running costs difficulties in the next 12 months
- Road haulage is responsible for 20% of the state’s greenhouse gas emissions. The sector has been challenged with reducing those emissions by 50% by 2030, requiring massive investments by businesses in the sector.
- An increase in insolvencies is expected in H2 of 2023
Atradius, who insure credit agreements between businesses, are able to give insight into how the economic and social changes over the past few months and years are impacting individual sectors. This includes sharing their own data trends for late and failed payment claims – a warning sign that business sectors are at increased risk of insolvencies.
