Minister of State with responsibility for International Development and Diaspora, Neale Richmond TD, today launched Ireland’s Climate and Environmental Finance Report 2023, which shows an increase of one-third in Ireland’s climate finance spending between 2022 and 2023.
The report, which is produced annually by the Department of Foreign Affairs and Trade, describes the levels, channels and focus of funding provided by the Irish Government to support climate action and environmental protection in developing countries.
The report finds that Ireland provided €159.2 million in climate finance in 2023, an increase of 32% in Ireland’s climate finance as compared to 2022.
Launching the report, Minister of State Richmond stated:
“The increase of 32% in our climate finance from 2022 to 2023 speaks for itself. The Climate and Environmental Finance Report once again demonstrates Ireland’s strong commitment to reach the furthest behind first.
“2024 was the warmest year on record, and the first year to pass 1.5℃ above pre-industrial levels. From increased wildfires, storms, drought, flooding – none of us are immune from the effects of climate change.
“I saw some of Ireland’s climate finance work in action on my recent trip to Kenya and I can testify that this money is making a difference to communities who are hit hard by a combination of poverty, conflict and worsening climate change.
“This report details Ireland’s climate finance across Government, and illustrates our continued commitment to help the most climate-vulnerable communities to adapt to climate change. Often those who have done the least to cause this crisis are the ones hit hardest.
“I am delighted that we are on track to meet our target of providing €225 million in climate finance in 2025, a more than doubling of our support since 2020.”
The Climate and Environmental Finance Report 2023 shows that Ireland is on track to meet the commitment of at least €225 million in international climate finance in 2025. This target represents a more than doubling of Ireland’s climate finance from a 2020 baseline of €88.3 million. It is estimated Ireland will provide in the region of €190 million in climate finance in 2024. The Government’s 2025 budget included a significant increase in Ireland’s climate finance, which will ensure that we meet our commitment.
The report highlights Ireland’s focus on delivering climate finance to support communities in Least Developed Countries (LDCs). The majority (79%) of Ireland’s bilateral climate financing was channelled to LDCs, while over 84% of climate related support through Irish civil society organisations went to LDCs.
The report shows that 86% of Ireland’s total climate finance supported adaptation to climate change. A total of 66% targeted adaptation measures only, while 20% targeted both adaptation and mitigation.
Ireland’s climate finance includes financing provided by the Department of Foreign Affairs and Trade (€105.7 million); the Department of the Environment, Climate and Communications (€24.1 million); the Department of Finance (€23.9 million), and the Department of Agriculture, Food and the Marine (€5.5 million).
Ireland’s Climate and Environmental Finance Report 2023 can be downloaded from Ireland.ie
Additional notes:
· In July 2022, the Irish Government published Ireland’s International Climate Finance Roadmap. This all-of-government plan sets out the pathway for realising the target announced by the Taoiseach at COP26 to provide at least €225 million in climate finance per year by 2025.
· In addition to setting out the plan for a significant scale up of Ireland’s climate finance, the Roadmap also expands the scope of support to areas where Ireland can bring further added value to international climate action, such as ocean protection, enhancing biodiversity and responding to climate-induced Loss and Damage.
ENDS