Taoiseach Leo Varadkar promised COP28 Ireland will spend €25 million to help countries affected the most by climate change.
The money will come from the €225 million the Government previously committed to contributing.
Speaking from the conference in Dubai, Mr Varadkar outlined Ireland’s commitment to reduce greenhouse gas emissions by 50% by 2030.
He also explained measures to help vulnerable countries experiencing the greatest impact of climate change.
Speaking at the conference this morning, he said the world "must rise to the challenge" of addressing the consequences of climate change.
"We cannot prevent climate change, we are well pas that point," he said.
"By acting urgently now we can limit its extends and mitigate its worst effects."
'Disappointing'
Friends of the Earth Ireland spokesperson Sadhbh O'Neill said Mr Varadkar’s announcement doesn’t provide any new contribution.
“It's quite disappointing to see that Ireland, while it played a leading role in helping to negotiate the creation of this fund, seems to be using the additional climate finance pledges to fund it,” she said.
“In other words, we're not making any new and additional finance available for loss and damage - it's coming out of what was already committed to post-2025.”
Environment Minister Eamon Ryan is also attending COP28 in Dubai this weekend and is advocating for stronger action on renewable energy and fossil fuel phase-out.
He said Ireland: “We have to see meaningful investment in clean energy in the developing and emerging countries, in particular Africa.
“At the moment, fossil fuel companies are only investing 1-2% percent of their supernormal profits into clean energy, and most of this is going to Europe, the United States and China. Fossil fuel companies will have to pay their fair share.”
Loss and damage fund
COP28 has also committed officially to a ‘loss and damage fund’ to help countries most affected by climate change.
Mr Ryan said he is “proud” of the Irish Government’s role in delivering this policy.
“It is testament to the diplomacy and skill of our public servants, who shared a seat with Germany on the transitionary committee tasked with progressing this issue since last year,” he said.
“However, we need to deliver much more this year given the urgency and evidence of dramatic climate change. The fact that the Global Stocktake will show that the world is way off track on its emissions targets puts greater onus on leaders to deliver a broad, ambitious and innovative response in Dubai.”
