The country looks set to avoid having to fork out for the 3.6m tonnes of carbon credits per year it was initially thought to need.
Just six months after making that prediction, the Environmental Protection Agency (EPA) has altered its forecast, prophesising that Ireland will now need between 1.3m and 1.8m tonnes per year, according to the Irish Times.
This is a result of the economic downturn forcing production to drop across a range of industries.
However, the EPA suggests that the country and especially the agriculture, energy and transport sectors, still has a lot to do to meet the terms of the Kyoto Treaty.
“Even with this and with all plans and measures implemented on time and delivering to their fullest extent, there is still an ongoing challenge for Ireland to meet its obligations under both the Kyoto protocol and under the EU 2020 binding targets,” it said, according to the news provider.
World leaders are set to meet in December to discuss a replacement agreement to the Kyoto Treaty, which expires in 2012.
Environmental scientists recently met to discuss the evidence that should be presented to the leaders to prepare them for the meeting in Copenhagen.