The Government has approved a new Risk Appetite Statement designed to accelerate the delivery of Ireland's critical infrastructure across the water, energy and transport sectors, as well as projects designated under the Critical Infrastructure Act 2026.

Developed by the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation (DPER) under the Accelerating Infrastructure Report and Action Plan (December 2025), the statement represents a significant policy shift in how risk is managed for major public investments. For the first time, it sets out a clear framework detailing the level and types of risk the State is prepared to accept to deliver essential projects more quickly.

Speaking today at a public conference on infrastructure hosted by DPER, the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D., said: "Development timelines for important infrastructure projects have in many cases approximately doubled compared to the development cycles typical just 20 years ago. For example, a small Wastewater Treatment Project in Ireland is taking 7 to 10 years. This is 4 to 5 years longer than similar sized projects in other EU Member States.

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"For too long, excessive caution and slow decision-making have delayed progress on projects that are essential to meeting the needs of the public and our economy – for improving quality of life.

"This new Risk Appetite Statement sends a clear signal – we are prepared to take informed, responsible risks to deliver the infrastructure our country urgently needs, and to deliver it faster and we will back decision makers to get infrastructure delivered.

"We cannot allow delay to become the default. Delay carries its own costs – for housing, for competitiveness, for energy security and the green transition. This framework empowers our public bodies to act with greater confidence, clarity and ambition in delivering results."

DPER's analysis indicates that excessive risk aversion has contributed to longer timelines and higher costs, with major energy and transport projects taking nearly twice as long to deliver as they did in previous decades. Legal and regulatory challenges also add complexity and uncertainty.

The new stance promotes a more balanced, proportionate approach to risk, acknowledging that delay imposes substantial economic, social and environmental costs.

Under the statement, Government confirms it is prepared to accept greater, well-managed risks to compress delivery schedules and improve outcomes. It signals increased openness to financial and delivery risks, strong backing for innovation, and a pragmatic approach to litigation and environmental risks.

In practical terms, this includes allowing higher upfront spending to advance design and site selection and to prepare planning documentation ahead of approval in principle; investing in detailed procurement materials before planning or licensing decisions are secured; proceeding with land acquisition or preliminary works prior to full approval of main construction; and forward purchasing critical materials before final approvals.

Decision-makers will also be encouraged to proceed in the knowledge that legal or environmental challenges may arise, while targeted legislative or regulatory reforms will be pursued to lessen these risks for delivery agencies and regulators.

Departments, agencies and regulators in water, transport and energy are now tasked with producing aligned sectoral risk appetite statements. In addition, each project designated under the Critical Infrastructure Act 2026 must prepare a project-level Risk Appetite Statement shortly after designation.