Ms Siobhan Curran:

A role for this committee in communicating with the Minister and reiterating some of the key points would be helpful. At COP27, Ireland, as the lead negotiator with the EU, played a significant role in getting this over the line. That is a good point to build from. Ireland could ensure that the fund was equitable and applied all the principles we have discussed.

At COP27, I was struck by the discussion on the new sources of finance and Prime Minister Mia Amor Mottley's interventions, as at COP26. She is showing leadership in proposing structural changes. We have to shift from billions of dollars to trillions of dollars in global finance. She spoke about structural changes such as how the IMF operated special drawing rights. She also spoke about debt cancellation.

This would be in the case if a climate impact hit a country that debt could be stopped for that period. It is very much thinking big about this. Ireland, if it continues with its grant-based finance and increasing that in line with our fair share, but also bringing forward these big new ideas, can play a very strong role in big picture ideas and in the international sphere.

My final point is on the role of the Department of Finance in that, and perhaps there could also be communication between this committee and the Minister for Finance on these issues.