Dramatically reducing carbon emissions and protecting biodiversity must be the legacy of this Government, the Taoiseach has said.
Launching the Climate Action Bill, which commits to zero emissions by 2050, Micheál Martin said that "many difficult decisions" must be made to meet targets, but he said climate change is now a "defining issue" for his Government.
Green Party leader Eamon Ryan committed to having the bill passed through the Dáil by December 15.
The bill establishes a system of successive carbon budgets, starting in 2021. Carbon budgets will include all greenhouse gases, with each five-year carbon budget allocating emissions ceilings to all relevant sectors.
Mr Ryan said that all of society now needs to get on board to make changes. He said that while some of the measures would be "far-reaching" and "difficult", the bill would provide the opportunity to "reshape and rethink our whole economy".
"By investing in retrofitting and improving our buildings, we have a chance to end fuel poverty — one of the greatest sources of poverty in our country," he said.
While farmers will have to play a significant part in bringing carbon emissions down, Mr Ryan said: "We have a chance to see rural Ireland rise and no sector of a country be left behind."
Mr Ryan added that switching to renewable power and stopping the import of fossil fuels would "give us greater security" and also help to create jobs.
"This is going to make for healthier better homes as we retrofit our homes, switching away from burning oil and gas and coal and peat, towards using electricity to actually heat our homes, to run our transport system, to run our industry, to give us the security in our economy — not a boom-bust cycle, but a natural cycle that we can fit within," he said.
"This will be a huge challenge. It will not be an easy process, it will require a lot of sectors to change the way that they do business — for the better, in my mind."
The bill will set the country on course to become climate neutral by 2050, he said.
Government ministers will be asked to explain themselves and provide an update on the carbon record of their department each year.
The bill will also ensure greater climate action at regional and local level, with local authorities required to develop five-year climate action plans with mitigation and adaptation measures included.
The Climate Change Advisory Council will be given a strengthened role to advise and propose carbon budgets to Government. The bill also ensures that future council membership will include greater gender balance and increased scientific expertise.
Tánaiste Leo Varadkar admitted that the commitment to reduce carbon emissions by 7% each year had been a hard-fought element of Government negotiations earlier this year.
"We spent a lot of time trying to put this Government together, a lot of talks, a lot of negotiations, and this is one of the issues on which Eamon and his team convinced me and convinced my team," he said. "It wouldn't be the first time I've changed my mind on something.
"There was quite a lot of debate, discussion, and haggling on that — but we did a deal. We did a deal, we formed a Government, and we're going to stand by that."