The new schemes open to Irish farmers from next year received the green light from the European Commission this week, setting the direction of farm payments for the next five years.

The Department of Agriculture can now begin moving to open the schemes that will run under the €9.78bn CAP strategic plan for applications, with only three months left until the plan takes effect.

Some €256m of the approved funds have been allocated to the Organic Farming Scheme and a further €180m to income supports for young farmers.

Some 67% of rural development funding is set to go to climate and environment measures, the highest of any 2023-2027 CAP plan approved so far.

Strict good agricultural and environmental conditions will be applied to peatlands to contribute towards carbon sequestration.