Dáil Éireann Debate, Tuesday - 11 June 2024
62. Deputy Patrick Costello asked the Tánaiste and Minister for Foreign Affairs to provide an update on the commitment to providing at least €225 million per year in climate finance to developing countries by 2025; and if he will make a statement on the matter. [25165/24]
View answerInternational climate finance is a key priority for the Government and for Ireland’s foreign policy. At COP26 in 2021, the Taoiseach announced the target to provide a least €225 million annually in climate finance to developing countries by 2025. Ireland’s International Climate Finance Roadmap, published in 2022, sets out how we will deliver on the target, which represents an increase of 150% from a baseline of just under €90 million in 2020. We remain on track to deliver on this ambition.
The Roadmap sets out our strategy and priorities for this rapid scale-up in funding. It builds on Ireland's positive record on climate finance, maintaining a focus on adaptation in some of the countries most vulnerable to climate change, particularly Least Developed Countries and Small Island Developing States. The Roadmap also expands Ireland’s focus to encompass key related areas including support for the livelihoods of coastal communities, climate and security, and Loss and Damage.
Ireland’s climate finance is channelled through our Embassies, multilateral organisations, and NGO partners. In 2022, Ireland provided €120.8 million in climate finance – an increase of 21% on the previous year. In line with our priorities, 80% of this went to programmes that support adaptation either as a whole or as one component. 84% of our bilateral climate finance in 2022 was channelled to Least Developed Countries.
In 2023, we estimate that Ireland provided at least €147 million in climate finance. A finalised figure for 2023 will be published following verification of Ireland’s Official Development Assistance data by the OECD Development Assistance Committee which is expected later this year.
