Ireland‘s climate finance spending stood at €159.2 million in 2023, a 32% increase on the previous year, new data from the country’s Department of Foreign Affairs and Trade has revealed.
According to the Ireland’s Climate and Environmental Finance Report 2023, Ireland is ‘on track’ to commit to at least €225 million in international climate finance by 2025, which would represent a significant jump from the 2020 baseline of €88.3 million.
‘Significant increase’
The Department noted that 2024 climate financing is likely to total around €190 million, while the government’s 2025 budget included a ‘significant increase’ in Ireland’s climate finance commitments.
“The increase of 32% in our climate finance from 2022 to 2023 speaks for itself,” commented Neale Richmond TD, Minister of State with responsibility for International Development and Diaspora. “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.“
Climate finance breakdown
The breakdown of Ireland’s climate finance in 2023 includes €105.7 million from the Department of Foreign Affairs and Trade, €24.1 million from the Department of the Environment, Climate and Communications, €23.9 million from the Department of Finance and €5.5 million from the Department of Agriculture, Food and the Marine.
Much of the focus was on climate adaptation, with 86% of total climate finance allocated to this area, while 66% targeted adaptation alone and 20% supported both adaptation and mitigation.
“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,” Richmond added. “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.” Read more here.
