UK commits $2 billion to UN-backed climate fund

Sept 9 (Reuters) – Britain will commit to providing $2 billion to the Green Climate Fund (GCF) to help developing countries tackle climate change, Prime Minister Rishi Sunak said at the Summit on Sunday. of G20 Leaders in New Delhi.

The pledge would be the largest funding commitment the UK has made to date to help the world tackle climate change, according to a government statement.

The Green Climate Fund (GFC), the largest such fund in the world, was created within the framework of the United Nations climate change negotiations to help channel the money poor states need to meet their goals of reducing carbon emissions, developing cleaner energy sources and adapting to global warming. world.

Britain has committed to spending 11.6 billion pounds ($14.46 billion) on international climate finance between 2021 and 2026.

“Today’s commitment represents a 12.7% increase on the UK’s previous contribution to the GCF for the period 2020-2023,” Sunak’s office said in a statement.

In July, The Guardian reported that the country was planning to abandon its major climate finance commitment, but the British government said those claims were FAKE. Government officials estimated it would have to spend 83% of the total aid budget on the international climate fund to meet the £11.6bn target by 2026.

The Group of 20 countries adopted a wide-ranging declaration on Saturday that included reiterating its commitment expand sustainable finance to help developing countries reduce their carbon footprints. He said developing countries need between $5.8 and $5.9 trillion before 2030, particularly for their needs to implement their emissions targets.

($1 = 0.8023 pounds)

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