Rishi Sunak has introduced a file UK contribution to a world local weather change fund in reply to Indian president Narendra Modi’s name for extra financing to assist creating nations.
To mark the shut of the G20 leaders’ summit in New Delhi on Sunday, Downing Road mentioned the Prime Minister would announce that Britain will present two billion US {dollars} (£1.6 billion) to the Inexperienced Local weather Fund (GCF).
No 10 officers mentioned it marked the most important single funding dedication the UK has made to assist the world deal with local weather change.
The uplift will type a significant a part of the UK Authorities’s pledge to spend £11.6 billion on worldwide local weather finance.
Ambitions for local weather motion should be matched with actions on local weather finance and switch of expertise
Indian Prime Minister Narendra Modi
It comes after Mr Modi, who’s chairing the G20 classes in India, made a name forward of the summit for wealthier international locations to supply assist for creating nations which can be battling towards the affect of local weather change, which is being skilled within the type of harsher climate circumstances and rising sea ranges.
In an article printed in a bunch of worldwide publications, together with The Occasions, Mr Modi mentioned: “Ambitions for local weather motion should be matched with actions on local weather finance and switch of expertise.”
The bumper local weather change contribution comes within the context of the UK and India negotiating a possible free commerce deal, with Mr Sunak and his Indian counterpart broaching the subject throughout talks on the fringes of the summit on Saturday.
The GCF was established by 194 international locations following the Copenhagen Accord at Cop15.
It’s the largest international fund devoted to supporting creating international locations to cut back international emissions and serving to communities adapt to the results of local weather change.
The £1.62 billion pledge made on Sunday, masking the interval of 2024-27, represents a 12.7% enhance on the UK’s earlier contribution to the GCF for the interval of 2020-2023.
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It doubles the preliminary grant made to assist set up the fund in 2014.
On the G20 summit, the Prime Minister known as on leaders to work collectively forward of the Cop28 summit in December to each cut back their very own carbon emissions and assist weak economies to cope with the implications of local weather change.
Addressing G20 leaders, the Prime Minister mentioned: “The UK is stepping up and delivering on our local weather commitments, each by decarbonising our personal financial system and supporting the world’s most weak to cope with the affect of local weather change.
“That is the type of management that the world rightly expects from G20 international locations. This Authorities will proceed to steer by instance in making the UK, and the world, extra affluent and safe.”
The GCF grant announcement comes after the Prime Minister mentioned at Cop27 in November that the UK would triple its funding for local weather adaptation.
Catherine Pettengell, government director of Local weather Motion Community UK (CAN-UK) welcomed the brand new cash however mentioned “extra is required”.
She mentioned: “The urgency and scale of the local weather disaster, and the devastating impacts it’s having on communities and international locations around the globe, is but to be matched by the required motion.
“The Authorities should go additional to rebuild international confidence within the UK as a local weather chief, and a useful step in direction of this could be to extend this contribution additional on the pledging convention in October prematurely of Cop28.”
Kate Norgrove, government director of advocacy and campaigns at WWF-UK, mentioned: “It is a welcome announcement from the Prime Minister and one which clearly demonstrates the significance of the International Local weather Fund.
“It’s important that wealthier international locations co-operate and collaborate to construct greener and extra resilient economies. We will carry our world again to life, however we’d like motion now.”
On Sunday, Mr Sunak is predicted to go to the Akshardham Hindu temple in New Delhi together with his spouse Akshata Murty, earlier than they each lay a wreath on the Raj Ghat memorial.
He’ll then be part of the ultimate G20 session, known as One Future, the place the main target will probably be on transformative applied sciences, earlier than flying again to the UK.
