Marc Ó Cathasaigh (Waterford, Green Party)
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85. To ask the Minister for Communications, Climate Action and Environment his views on how best to establish a new collective quantified goal on climate finance at COP29; and if he will make a statement on the matter. [41335/24]

Eamon Ryan (Dublin Bay South, Green Party)
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COP29, scheduled to take place next month in Baku, Azerbaijan, is expected to deliver an agreement on a New Collective Quantified Goal to replace the current annual $100 billion goal for globally provided and mobilised climate finance from developed countries.

The design of the new Goal must ensure that it is fit for purpose, ambitious and achievable and responds to the challenge at hand, a swift global transition towards net zero and climate-resilient societies and economies.

The overall amounts required to do this, and respond to the impacts of climate change, far exceed what can be provided by public financing alone and so will necessitate the leveraging of public, private, philanthropic and innovative sources of finance, as well as the alignment of all financial flows with the Paris Agreement.

As well as an outcome on finance, it is crucial that COP29 builds on the momentum on mitigation action that was started at COP28, as we move to implement the UAE Consensus.

In the lead up to and at COP29, I am taking on a role as part of the Ministerial Pairing focusing on adaptation, with my colleague, Minister Tattenbach, of Costa Rica. I am conscious of the responsibility it involves to help find agreement at a global level on this important issue, as part of an overall agreement, including in relation to the finance goal.