Dáil Éireann Debate, Thursday - 16 November 2023
87. Deputy Paul Murphy asked the Minister for the Environment, Climate and Communications if he will provide an update on Ireland's position on the Loss and Damage Fund, which will be discussed at COP28; if Ireland will commit at least €500 million in new money, in the form of grants, to a Loss and Damage Fund at COP28; and if he will make a statement on the matter. [50292/23]
View answerThroughout this year, Ireland has been committed to delivering recommendations on a Loss and Damage fund that will serve the most vulnerable countries and communities. The Transitional Committee on Loss and Damage, on which Ireland was represented by the Department of Foreign Affairs, has met intensively since March. After a difficult process, there is now a text on the table that is to be formally approved at COP28. Ireland and the EU encourage endorsement by all parties at COP28 of this text.
This text provides details for a new fund, and funding arrangements to assist developing countries to respond to Loss and Damage. It includes a guaranteed allocation of resources for Least Developed Countries and Small Island Developing States. Ireland’s work on the Committee has been focused on delivering for vulnerable countries and communities and we are pleased to see these elements reflected in the text.
Ireland is firmly committed to mobilising further finance for Loss and Damage, including through this new Fund, pending formal agreement of the text at COP. We are working with our partners in the EU to coordinate in this regard. Any contribution by Ireland will be in grant-form.
More broadly, we are in the process of more than doubling Ireland’s climate finance, to reach at least €225 million per year to developing countries by 2025.
