Over €100 million is being provided by the Government for a large-scale peatlands restoration project in the Midlands.
Bord Na Mona will contribute €18 million to the plan, which will create 350 jobs.
Ministers also approved almost €30 million in funding for 47 projects in the midlands under the Just Transition Fund.
Minister for the Environment Eamon Ryan says the jobs will come on stream over the coming years.
"They will come into place fairly quickly. The bog restoration is over the next five years and then it will have huge potential down the line in terms of storing carbon.
"In other sectors, [the plans] are initial projects which will promote innovation and local business."
This comes after work began on a €100 million wind farm in Co Offaly in October.
Bord na Móna have said the new wind farm in Cloncreen will supply 55,000 homes with electricity each year.
