Oireachtas Joint and Select Committees
Tuesday, 5 November 2024
Joint Oireachtas Committee on Climate Action
COP29: Discussion
10:45 am
Alice-Mary Higgins (Independent)
Link to this: Individually | In context | Oireachtas source
On where Ireland can come in, Ireland has committed to €225 million. Mr. Fitzpatrick has made it clear that our share of the €100 billion would be closer to €500 million per annum. Interestingly, when loans come through they are very much attached to very strict conditionality to debt repayment. I refer to the pledges and promises that have been made by developed countries such as the €100 billion. Bear in mind we are meant to have been paying our share of the €100 billion for years yet we are still talking about maybe paying 50% of our annual share next year. The Loss and Damage Fund is still a very small fund, if you want to look at something that has a relationship of debt.
It is interesting that Mr. Fitzpatrick says there is this narrative to try to bring in other countries that have become wealthier but a failure to acknowledge the historical debt piece. As I understand it, in some cases, the debt developing countries are paying back dates from the colonial period. We are not acknowledging the impact of colonialism in terms of the creation of the inequalities that we have now and yet colonial debt is, in some cases, still being paid back by developing counties. Will the witnesses comment on the debt piece?