Ceasefire agreement must be first step towards permanent end to the suffering in Gaza, says ActionAid  Ireland

ActionAid Ireland said today while the agreement to halt hostilities in Gaza will bring some respite to its exhausted people, it is no substitute for a permanent ceasefire which respects the rights of Palestinians to determine their own future.

ActionAid Ireland CEO, Karol Balfe, said the international community must apply maximum pressure on all parties to urgently secure a lasting end to this war, and on the Israeli government to end its unlawful occupation of Palestinian territory.

“Equally the new Programme for Government commitment must fulfil general election pledges to pass the long-awaited Occupied Territories Bill and show that international law means something.”

She said: “The Israeli government must be held accountable for all violations of international law and comply with ongoing proceedings by the international courts into the charges of genocide, war crimes and crimes against humanity. “

“Fifteen months of unimaginable violence and horror has turned Gaza into hell on earth. The Israeli military’s brutal and relentless offensive has left over 46,000 people dead, tens of thousands with life-changing injuries and turned much of Gaza into a wasteland, with more than two thirds of buildings destroyed.”

Fidaa, a Project Officer at Al Aqsa Sports Club, ActionAid’s partner in Gaza, whose husband and brother were both killed, said:

“For Gaza, for my family and for me, this moment comes too late. I have lost so much. 
 
“My husband and my brother dreamed of peace, of a future brighter than this reality…But now they are not here to witness this moment. What should have been achance for relief feels like a cruel reminder of the lives we’ve been robbed of… the love we’ve been forced to let go. 
 
“After enduring more than a year of displacement and unimaginable suffering and the weight of profound loss, I ask myself: how do we rebuild? How do I raise my seven children without their father, the man who was our anchor and our light? 
 
“This is not peace, it is a cruel reminder of the cost of inaction, the toll of conflict, and the emptiness left in its wake. 
 
“My family’s story is not unique here in Gaza, it’s one among countless others. As I stand here, I hold onto a fragile hope, that this moment might mark, not just the end of violence but the beginning of a world where no-one else has to endure what we have endured.”

Ms Balfe added:

“A ceasefire will not bring back the hundreds of thousands of homes that have been destroyed, nor the entire cities wiped off the map, so reconstruction efforts must begin now to urgently provide shelter to the thousands of homeless and displaced Palestinians across the Strip. “

She said: “As the truce comes into effect, all efforts must turn to addressing the staggering humanitarian need in Gaza, where people are starving, and children are freezing to death. Aid – particularly nutritious food, clean water, shelter items, medicines and fuel – must be immediately sent into Gaza, while women and girls also need vital essentials like period products, as well as safe and private places to shelter.  

“While we hope this ceasefire agreement is a crucial step forward, there is still a very long way to go to achieve the justice and accountability that Palestinians deserve for the countless atrocities that have been committed.” 

In relation to the Occupied Territories Bill Ms Balfe said the new Government can set an example for nations around the world.

“Even though we are a small state, the long-awaited Occupied Territories Bill would be the least we can do and an appropriate legal response to the appalling breaches of international law that have happened in Gaza, and the West Bank, over the last 15 months.”

 “We can and must show that international law means something. The new Government must not be deflected by growing political and diplomatic pressure. The Irish public clearly want this, there can be no price too high to resist an illegal and immoral occupation, man-made famine and the brutality of suffering Palestinians have faced.”

She added: “We have to do the right thing and stand up and be counted. All political parties collectively pledged during the RTE TV leaders debate during the general election campaign to support the Bill. Any postponement, watering down or delay will not only be letting the people of Gaza down, but will be a bad reflection on our nation’s values.”

More information here.

Protesters holding End Fossil Fuels banner at a climate demonstration, advocating for renewable energy solutions.

Protestors at COP 28 in Dubai. Photo: Konrad Skotnicki.

Climate protest with diverse crowd holding signs about environmental action in a city square.

Belfast Climate Change March, 2019. Photo: Trócaire.

The Profit Driving the Crisis

Despite their overwhelming contribution to global emissions, fossil fuel companies continue to attract significant financial backing—driven by their enduring profitability. This is starkly illustrated by the case of ExxonMobil, the top fossil fuel investment held by asset managers based in Ireland. In 2023, ExxonMobil reported €33.63 billion ($36 billion) in profit. That is almost twice the GDP of Botswana (€18.1 billion) and nearly three times Namibia’s GDP (€11.5 billion).

Ireland plays a hugely disproportionate role in facilitating investments into fossil fuel companies like ExxonMobil. In 2023, the investments made into fossil fuel companies by investment managers based in Ireland generated an estimated 72.5 million tons of CO2e. This is more than the CO2e emissions for the entire country of Ireland—and more than ten times that generated by Sierra Leone.

The Global Human Impact

The climate crisis is here, now, and it is causing disproportionate harm in the Global South. In Bangladesh, rising sea levels and increasingly severe cyclones are displacing coastal communities, with projections indicating that 17% of the entire country could be underwater by 2050. The legally binding Paris Agreement on climate change explicitly acknowledges the importance of tackling private finance. Its three overarching goals are: keeping below 1.5C of warming; increasing adaptation and making finance flows consistent with low emissions and resilience.

This gives a clear mandate for action:  both tax reform and corporate regulation are needed to tackle financial flows, and both nationally in Ireland and at EU level, ‘polluter pays’ taxes are lacking and regulation of the financial sector remains weak and fragmented. While EU regulation exists, it is designed more to nudge investors toward more sustainable investment practices by increasing transparency and reporting levels than to enforce strict standards. And it is moving in the wrong direction: the recently passed EU Corporate Sustainability Due Diligence Directive excluded investments; and now the EU Commission’s Omnibus legislative proposal threatens to undo the limited gains made on climate plans, as well as blocking future attempts for stronger action at national level.

The Risk of Inaction

Fossil fuel investment is too profitable to remain weakly regulated. If Ireland continues with its current strategy of encouraging FDI at all costs, and relying on weak EU regulation, we are headed for catastrophe. The Inter-governmental Panel on Climate Change has repeatedly warned that every fraction of a degree beyond 1.5°C brings irreversible consequences: collapsed ice sheets, vanishing coral reefs, and extreme weather events that will make vast regions of the planet uninhabitable. And yet, companies are developing oil and gas fields that could push global warming beyond 2°C.

Our research found that 91% of the investments made into fossil fuel companies by investment managers based in Ireland were to companies that have plans for fossil fuel expansion like these. Ireland cannot afford inaction on this issue.

About This Research

The figures in this report regarding investment from Ireland are based on new research commissioned by ActionAid Ireland and Trócaire. In the paper, we uncover the scale of fossil fuel investment through Ireland, who the investors are, and in which fossil fuel companies they are investing.  We analyse the current regulatory framework and explain why it is inadequate—and moving in the wrong direction. And we make specific recommendations for change, which are summarised below.

Summary of Recommendations

Regulate the private financial sector
Ireland must end its outsized role as an enabler of destructive fossil fuel investment. Ireland should introduce a strong gender-responsive national human rights and environmental due diligence framework which includes the regulation of investors with respect to human rights and the environment and climate. The transposition of the EU Corporate Sustainability Due Diligence Directive could achieve this if downstream activities are included and the Omnibus proposal is rejected. Ireland should prohibit investments in fossil fuel expansion and require investors to implement climate transition plans consistent with a 1.5°C climate limit.

Endorse the Fossil Fuel Non-Proliferation Treaty
Ireland should endorse developing a Fossil Fuel Non-Proliferation Treaty to curb fossil fuel expansion and commit to a fair and funded phase out of fossil fuels.

Support tax justice
Ireland should support bold and fair new global tax rules through the UN Framework Convention on Tax, should adopt all OECD BEPS measures, and should conduct an updated and comprehensive spillover analysis of its tax policy. Ireland should take coordinated action globally, at the EU level and domestically to introduce a range of new taxes to mobilise finance needed for climate justice, based on ‘polluter pays’ and social equity principles such as wealth taxes for the highest earners, climate damages tax on investors, fossil fuel production taxes and levies on aviation and shipping.

Finance a just transition
Ireland must also meet its fair share climate finance obligations under Article 9.1 of the Paris Agreement, and pay our ecological debt to the Global South. Ireland should support conditionality-free debt cancellation for countries on the front lines of the climate crisis, commit to a new UN Framework Convention on Sovereign Debt, moving debt negotiations from the IMF to the UN, and to a debt workout mechanism that is fully representative and fair.

Further reading