Oireachtas Joint and Select Committees
Tuesday, 5 November 2024
Joint Oireachtas Committee on Climate Action
COP29: Discussion
10:35 am
Ms Siobhan Curran:
I would like to add to this. This is something civil society will really focus on at this COP. The debates often get stuck on technocratic arguments. It is very important that we call out that at present the EU's position is that it does not agree to the subgoals of the NCQG. This could seem insignificant but it undermines accountability. The biggest problem with climate finance is there is zero accountability. There is a new report by the ONE campaign which refers to this area as the wild west of reporting. There is no uniformity, the definitions are loose and countries use different criteria to report climate finance. It is becoming meaningless because the whole point was that it would mobilise new money that would be directed to the countries that needed it but this is not happening. Often, climate finance takes away from development finance. The EU's position is not to agree a figure for the new goal or even have discussions on it. It is very difficult to see how developing countries can have trust in this process when it is being blocked at every pass. What is needed is a collective coming together to say we have an historical responsibility, we have broken promises for decades, and now we will chart out new era of climate finance in order that the action we need can be implemented.