Labour calls on Government to immediately accelerate climate finance aid

01 November 2021

Labour Party Finance and Public Expenditure and Reform Spokesperson, Ged Nash, has called on the government to double its climate finance adaptation aid by 2023. Deputy Nash was speaking on the occasion of the opening of Cop26 Climate Summit in Glasgow.

Deputy Nash said:

“The Paris Agreement of 2015 contained a commitment to increase climate aid to from the affluent north to developing countries to €100bn a year in recognition of the fact that the vast bulk of climate related environmental damage has been caused by the north while its impact has, at this stage, been experienced most acutely in the south.

“Progress has been made towards this target but we are still falling short, as has become clearer in the opening Cop26 sessions.

“While the €100bn target covers both public and private investment, there is a clear need for the State to take a lead and a play a leadership role in this respect and as an example to others.

“The last aid figures available suggest Irish climate financial aid has increased to €93million in 2019 having met previous existing targets.

“However, it is both necessary and in our interests that our climate adaptation aid funding increases further. The government is committed to doubling the target by 2030.

“In light of the scale of the crisis and the speed at which the situation is deteriorating, this delay is unconscionable. There is no reason why we should not seek to meet this target in 2021.

“The climate crisis is real and it has arrived. It is not just an environmental issue, it is also a social and economic justice issue.  Those who have contributed least to the problem are already enduring the consequences of it. It is time to radically scale up our response.”

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