In November 2021, the Taoiseach announced that Ireland would provide at least €225 million in international climate finance annually to developing countries by 2025. The target represents a more than doubling of our climate finance from 2020 levels.
Ireland’s International Climate Finance Roadmap published in 2022, sets out our strategy and priorities for this scale-up in funding, building on Ireland's positive record on climate finance and maintaining a focus on adaptation in some of the countries most vulnerable to climate change, particularly Least Developed Countries (LDCs) and Small Island Developing States (SIDS).
The Government is committed to delivering on the Roadmap and we have steadily increased our climate-related expenditure. We are on track to reach the €225 million target this year. Ireland provided €159.2 million in international climate finance in 2023 with estimated expenditure for 2024 in the region of €190 million. Ireland’s climate finance is overwhelmingly grant-based and primarily targets adaptation actions. In 2023, 86% of Ireland’s climate finance went to programmes that support adaptation either as a whole or as one component.
The then Tánaiste launched our Second Strategy for Partnership with SIDS at COP28 in 2023. An important part of this Strategy has been the commitment to expand financial support to SIDS for adaptation. This includes the provision of €14.1 million to the Ireland Trust Fund for Building Climate Change and Disaster Resilience in SIDS at the Asian Development Bank. Since 2019, the Trust Fund has launched 27 projects across Pacific SIDS on adaptation and reducing peoples’ vulnerability to disasters.
A second major adaptation contribution is the provision of €25 million to the Fund for Responding to Loss and Damage. As a member of the board of this Fund, in a shared seat with the European Commission, we have collaborated closely with SIDS and LDCs and advocated for funding arrangements that meet their specific needs.
In addition, Ireland provides funding to several multilateral funds that assist countries in developing and implementing their National Adaptation Plans, including the Green Climate Fund. Ireland is contributing €40 million to this Fund from 2024-2027.
We remain fully committed to delivering on our International Climate Finance Roadmap, and a review will be held this year to inform climate finance expenditure in the 2026-30 period.
