Oireachtas Joint and Select Committees

Tuesday, 25 October 2022

Joint Oireachtas Committee on Climate Action

COP27: Discussion

Mr. Niall McLoughlin:

Within that space, Ireland has been advocating that we engage through the existing financial mechanisms in the first instance and establish whether there is scope to support loss and damage initiatives.

We have also been looking at other options in terms of what a new financing mechanism would actually look like going forward and how that could be funded. Throughout all of this, however, we have been working through the Glasgow dialogues and hoping to gain traction in the context of those discussions with other parties in the context of what is required. How can these funds be delivered? How can there be no slippage in terms of averting and minimising what we would call adaption and mitigation? All I am saying is that we are being as ambitious as we can in this space in working with EU colleagues. That has had practical expression by the fact that yesterday, the Council conclusions were agreed and for the first time, the EU has acknowledged that there needs to be an agenda item on loss and damage at COP27. That is very welcome. That speaks to the work that Ireland-----