Pa Daly (Kerry, Sinn Fein)
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24. To ask the Minister for Finance if he will report on climate financing as part of the planned Programme for Government; and if he will make a statement on the matter. [5222/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will know, International Climate Finance plays a critical role in addressing the multifaceted challenges of the climate crisis, representing a crucial instrument in global adaptation and mitigation efforts. Consequently, it remains a key priority for this Government, which intends to follow on from the previous Government’s substantial progress in scaling up its international climate finance commitments in recent years.

At the COP26 summit in 2021, the Taoiseach declared Ireland's commitment to provide at least €225 million annually in climate finance to developing nations by 2025. In 2022, Ireland’s International Climate Finance Roadmap was published, a document charting the strategic course toward the realisation of this ambitious goal, which Ireland is on track to achieve, having increased the allocation for international climate finance in Budget 2025. This goal represents a substantial 150% increase over the baseline of just under €90 million allocated to climate finance in 2020.

Ireland's International Climate Finance Roadmap articulates the strategy and priorities for this significant scaling-up of funding. Building upon Ireland's established record and steadfast commitment to climate finance, the Roadmap prioritises adaptation measures within those nations most vulnerable to the impacts of climate change. Central to our mission is the provision of support to the most impoverished and vulnerable populations, including those residing in Least Developed Countries, Small Island Developing States and fragile states and communities. Our efforts are focused not only on providing essential support but also on empowering these groups to effectively address the complex and multifaceted challenges posed by climate change.

Within our climate finance portfolio, adaptation is a primary focus, supporting nations in building resilience against the impacts of climate change. We advocate for high-quality climate finance, prioritising access, effectiveness, gender sensitivity, transparency, and good governance to ensure initiatives address the needs of women and marginalised groups. The Roadmap broadens our focus to include support for coastal livelihoods, climate and security, and Loss and Damage. Recognising the potential impact of climate events on debt repayment, Irish climate finance is predominantly grant-based. This funding is channelled through bilateral partnerships, civil society organisations, and multilateral funds, including the Green Climate Fund (GCF) and the Global Environment Facility (GEF) established under the Paris Agreement.

There is, of course, a significant gap between current climate finance levels and the estimated global investment required, with substantial needs across all regions. While public finance remains crucial, supplementary resources are essential, including mobilising private capital and broadening the contributor base. Our commitment to climate action is demonstrated by our active engagement in international fora such as the EU, UN, and OECD, contributing to the global agenda while informing policies and priorities.

With respect to reporting, the Government annually reports its climate finance yearly contributions to the European Union, to the OECD Development Assistance Committee and to the United Nations Framework Convention on Climate Change. Moreover, the Department of Foreign Affairs publishes an annual Climate and Environmental Finance Report, providing comprehensive information regarding funding sources, thematic and geographic priorities, and disbursement channels.

These reports are publicly available online at: www.ireland.ie/en/irish-aid/news-and-publications/publications/.