International climate finance is a key priority for Government. At COP26 in Glasgow in 2021 Ireland committed to delivering at least €225 million per year in climate finance to developing countries by 2025. Ireland has not yet set a target beyond 2025.
Ireland’s International Climate Finance Roadmap, published in 2022, sets out Ireland’s pathway to achieve this commitment and outlines a long-term vision for international climate finance as one where the poorest and most vulnerable people, especially those living in the least developed countries, small island developing states, and fragile states and communities, are supported and empowered to meet the challenges posed by climate change.
Recognising the devastating impact that the climate crisis can have on a country’s ability to pay back debt, Ireland understands that access to climate finance is key and, therefore, our climate finance is primarily grant-based and is channelled through numerous bilateral and civil society mechanisms, as well as multilateral funds such as the Green Climate Fund and Global Environment Facility.
Ireland's climate finance is delivered by my Department; the Department of Foreign Affairs; the Department of Finance; and the Department of Agriculture, Food and the Marine.
Reporting of climate finance delivered in any given year is conducted in the following year. In September 2023 Ireland conducted reporting on its 2022 climate finance delivery.
Ireland’s support for loss and damage initiatives forms part of our commitment to deliver at least €225 million per year in climate finance to developing countries by 2025. This comprises a more than doubling of our support since 2020.
To date, we have demonstrated our commitment to loss and damage by pledging to initiatives such as the Santiago Network, which, once fully established, will provide technical assistance on loss and damage, and the Global Shield, which provides social protection support and insurance for disaster affected communities.
Ireland is working with our EU partners to coordinate pledging to a new Loss and Damage Fund, pending formal agreement on a satisfactory text at COP28.
Ireland’s International Climate Finance
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Year
|
Amount
|
Comment
|
|
2020
|
€88,300,000
|
|
|
2021
|
€99,600,000
|
|
|
2022
|
At least €115,000,000
|
This figure is currently undergoing verification by the OECD and therefore is subject to change.
|
|
2023
|
€147,000,000
|
Estimated figure based on best available information to date. Subject to change.
|
|
2024
|
€172,000,000
|
Estimated figure based on Budget 2024 allocations. Subject to change.
|
|
2025
|
|
Ireland’s climate finance delivery is subject to annual budgetary negotiations. Estimated spend for 2025 is therefore currently unavailable.
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