Peadar Tóibín (Meath West, Aontú)
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131. To ask the Minister for Communications, Climate Action and Environment the rationale behind the virement of €1.5 million in Just Transition funding to support climate finance activities of the United Nations; and if he will make a statement on the matter. [19713/23]

Eamon Ryan (Dublin Bay South, Green Party)
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Recognising the leadership role of the UN Development Programme in the Sustainable Development Goals (SDGs), and my Department’s governing responsibility for their implementation in Ireland, at COP27 I announced funding of €2.5 million to support UNDP climate finance activities; a virement of €1.5million accounted for part of this contribution.

The funding will support the UNDP's Financial Centre's for Sustainability network in establishing its SDG Pipeline Builder programme. The aim of the Pipeline Builder is to provide private investors with opportunities to support emerging markets and developing economies with country-level SDG aligned investable projects in developing parties.

Increasing the level of climate-related private capital investment is essential to rapidly scale up mitigation and adaptation activities required in developing countries. The support will contribute to Ireland’s commitments under the Paris Agreement and help towards Ireland’s climate finance commitment to achieve €225 million international climate finance by 2025.

Government is committed to a just transition in the Midlands region and has dedicated significant funding to supporting workers, companies and communities affected by the closure of peat-fired power stations and the cessation of peat harvesting by Bord na Móna. Some €29 million of funding will be available to this region in 2023 under the national and EU just transition funds. Smaller budgetary adjustments are made within the Department, as and when the need arises; however, it is important to stress that this does not affect or impact overall funding for, and the commitment to, the just transition in the Midlands region.