The vision for the future of Bord na Móna is “A New Contract With Nature”. In this context objectives have been set out for the company – a roadmap for the next 15-20 years – which will transform each of the current businesses, make the company one of the largest renewable energy companies in Ireland, and a leading provider of sustainable products and services both at home and internationally. Everything done will be consistent with those objectives. This has huge commercial implications, but it is seen by the company, not as a threat, but as a significant opportunity.
Bord na Móna has to change. It must still provide the marketplace with fuels, electricity, heating and comfort products, and enriched growing media, but in a more sustainable manner.
A new contract with nature signifies the beginning of a transition from traditional business – mostly dependent on peat – to a new, more sustainable business, focused on resource recovery, wind energy, Biomass, environmental products, district heating, and eco tourism.
The company has already stopped opening up any new bogs. Whether one believes in climate change or not, usable peat resources are diminishing and Bord na Móna is working on more sustainable ways to provide electricity. The target is to displace 30% of all peat used in power plants with sustainable biomass. There will also be heavy investment in wind energy.
Bord na Móna is extremely confident about the future and the role it will play in helping Ireland to become a greener, cleaner and more sustainable country by, for example, protecting and enhancing the peatland landscapes.
There are broadly two ways to achieve the ambitious growth plans for the company. One is to grow through mergers and acquisitions; the other is to stimulate organic growth through innovation. Bord na Móna’s intention is to pursue both options vigorously.
The strategy for the future is consistent with a new contract with nature. The policies, plans, strategies, and vision that brought this great company to the strong position it is in after 75 years, are different from those required to bring it forward. However, building on the commitment, integrity, and willingness to change that is the hallmark of its employees and the innovation that has characterised the company through the decades, Bord na Móna is confident that it is laying solid foundations for success in the next 75 years.