At COP28, Ireland pledges over $27M to climate damage fund

By Burak Bir

LONDON (AA) – The Irish prime minister announced Saturday that his country will contribute €25 million ($27.2 million) to a new “loss and damage” fund for 2024 and 2025 in a bid to tackle the negative effects of climate change.

Addressing the COP28 climate summit in Dubai, Leo Varadkar said the world must do everything to make sure that the green transition is just, protecting the vulnerable and leaving nobody behind.

"Never before have the alarm bells been ringing so loudly, we must rise to the challenge," he said.

Voicing many people's concerns about how much the transition will cost amid the high cost of living and high energy prices, the Irish prime minister said that these are legitimate concerns and needed to be heard.

"We cannot prevent climate change. We're well past that point. But by acting urgently now, we can limit its extent and mitigate its worst effects," he noted.

Touching on climate-related regulations in Ireland, Varadkar recalled that his government has committed to be climate neutral by 2050, adding that Ireland will double its climate finance.

Heads of state and governments worldwide, as well as NGOs, businesses and civil societies, are gathering in the UAE at this year's UN climate change conference to accelerate action to tackle the climate crisis.

Talks will continue until Dec. 12.