All money raised from increased carbon taxes is to be ring-fenced to fund climate action projects.
Taoiseach Leo Varadkar will make the announcement at the UN Climate Summit later.
Mr Varadkar is in New York this week for a series of UN summits and meetings with other world leaders.
Today it is the Climate Action Summit where leaders from around the world are expected to outline what they're doing to combat climate change.
Mr Varadkar will address the summit later and confirm that increased revenue from a hike in the Carbon Tax will be ringfenced for climate action projects and funding a just transition.
The Taoiseach expects it to raise billions of euro over the coming years.
An all-party Oireachtas committee has committed to raising carbon taxes from €20 a tonne to €80 a tonne by 2030.
It would mean increases in the price of fuel, briquettes and coal among other things.
The Taoiseach argues that re-investing the money raised in ensuring a just transition will offset the impact of fuel and energy cost increases.
Minister for Climate Action Richard Bruton says it is important to help people who may struggle financially with increased fuel costs.
"It's not about raising money for other practical purposes so the idea of ringfencing it and ploughing it back into initiatives that involve transition, protecting those who might be vulnerable to fuel poverty and empowering changes in communities, that's really the way to make sure that carbon pricing is seen as a tool to be a win-win for our community," said Minister Bruton.
