Minister for International Development Neale Richmond said Ireland will speak up for the poorest countries worst affected by climate change as the Cop30 climate summit negotiates on getting more money to those most in need.
Aid agencies say however that a landmark agreement to make rich countries pay for the damage poor nations suffer from climate change has fallen far short of expectations.
They say the Loss and Damage Fund, agreed at Cop27 in 2022, is underfunded, too restrictive and too slow to respond.
The fund opened to applications for assistance on Monday with just €250 million available initially.
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Sinéad Loughran of Trócaire said it was a tiny fraction of the $400 billion needed annually to compensate harmed countries.
“The direct losses and damages caused by Cyclone Freddy in Malawi in 2023 is estimated at over $506 million, over the double the amount available to the start-up phase of the fund,” she said.
A further $500 million is in the fund but it will not be opened to applications in the initial phase.
Ms Loughran said applications were restricted to damages of $20 million, and were only being accepted from central governments, not from states or communities directly affected.
[ Cop30 seeks to tackle the ‘information crisis’ on climate issuesOpens in new window ]
A rapid response mechanism promised when the fund was agreed to ensure swift access to emergency finance was not activated either.
“There was such excitement around the Loss and Damage Fund. It was a real symbol of climate justice,” Ms Loughran said.
“But three years on it’s still an empty shell and incapable of meeting the needs of developing countries.”
Mr Richmond urged patience with the fund, which Irish diplomats played a key role in negotiating to agreement.
“It’s only the first year so let’s see the funds, how they’re used, the response. If it needs to be improved, it can be improved.”
The Minister is also facing pressure from aid agencies to increase the Republic’s climate finance contributions.
The annual contribution for climate action in developing countries hit €225 million this year but analysis by Trócaire and Christian Aid Ireland shows a fairer figure would be double that amount.
It also shows the contribution to the Loss and Damage Fund should be €1.5 billion annually. It has pledged €25 million.
“The numbers seem big but we have the means to raise the money,” Ms Loughran said.
“If we had a wealth tax, an aviation tax and removed fossil fuel subsidies, we could raise €9 billion a year.”
Mr Richmond said the Government had fulfilled a pledge in doubling climate finance to €225 million a year in a few years and would continue contributing.
However he said: “There’s no point in us setting an unrealistic target that we’re not going to meet.”
