Oireachtas Joint and Select Committees

Tuesday, 22 October 2024

Joint Oireachtas Committee on Climate Action

Engagement with Minister for the Environment, Climate and Communications on COP29

12:30 pm

Photo of Richard BrutonRichard Bruton (Dublin Bay North, Fine Gael)
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I welcome the Minister. What is his assessment of how changes in the geopolitical landscape, to put it at its most euphemistic, the output of war, the increasing tensions, the increasing sense of retaliatory measures between different states which we look to to co-operate in the context of reducing emissions, have put a dampener on progress that can be made at COP29? Are these countries setting that aside to maintain their commitment to the global challenge? I am trying to get an understanding of the state of play, particularly with big countries like the US, China, Russia, India, the other BRICS countries and so on which are very important players in this.

Will there be any progress report this year on where different countries stand on their national contributions? I know there is a sense generally that the target of 1.5° is slipping away. Will, in some sense, member states' toes be held to the fire at this COP to identify where progress is made and where slippage is occurring?

Obviously, climate finance is critical. The role played by the Minister and the European Union in respect of this matter have been very important. Where do we stand with countries that are not willing to sign up as donors? Can any leverage be exercised to broaden that base, which, as the Minister rightly pointed out, is crucial?

Carbon trading opens up the potential for mobilising private finance in innovative ways. What obstacles need to be overcome in moving to having a process of trading carbon credits? Has any preparatory work been done ahead of the COP to remove any potential barriers? Where do the negotiations in that regard stand?