Mr. Niall McLoughlin:

Those discussion are absolutely taking place and they need to be taking place. We have to look at the context of loss and damage. I am conscious that the committee received presentations earlier from NGOs in this space. A report was published yesterday in the context of the income associated with fossil fuel companies, etc., and the potential of whether somehow those profits can, through a windfall tax or something like that, be used to help address the loss and damage being experienced by parties and particularly least developed countries and small island developing states. There are opportunities here to look at whether there is potential for carbon market transactions for solidarity fund levies, etc., on profits from fossil fuel fuels and so forth. These still take time to put in place. Obviously, further analysis is required in terms of such negotiations, including how it might affect the carbon border adjustment mechanism, the European Union Solidarity Fund, etc. They are also mentioned in the context of the developed countries admitting that a big part of fossil fuel production is in developing countries. Further analysis is required there. As I said, however, absolutely, Ireland is engaging by association with the Beyond Oil and Gas Alliance last year and in the context of our preparations for COP27 and how we are negotiating with EU member states. They must be part of the solution They have to brought in and made aware of the polluter pays principle. Everything needs to be considered in this context.