The UK Prime Minister Rishi Sunak made a groundbreaking announcement that underscored the United Kingdom’s commitment to combatting climate change at the G20 leaders’ summit in India, which concluded on September 10, 2023.
The UK pledged an unprecedented £1.62 billion ($2 billion) to the Green Climate Fund (GCF), the world’s most substantial global fund dedicated to aiding developing nations in reducing emissions and adapting to climate change’s adverse impacts.
This generous commitment represents a remarkable 12.7% increase from the UK’s prior contribution to the GCF for the 2020-2023 period, which had already marked a doubling of the UK’s initial funding when the fund was established in 2014.
Prime Minister Rishi Sunak, addressing G20 leaders at the summit, urged a unified front in addressing climate change and emphasized the need for nations to reduce their carbon emissions while supporting vulnerable economies facing climate-related challenges.
“The UK is stepping up and delivering on our climate commitments, both by decarbonizing our own economy and supporting the world’s most vulnerable to deal with the impact of climate change,” Prime Minister Sunak declared.
“This is the kind of leadership that the world rightly expects from G20 countries. And this government will continue to lead by example in making the UK, and the world, more prosperous and secure.”
The United Kingdom has been at the forefront of global efforts to assist developing nations in confronting climate change.
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It previously committed to allocate £11.6 billion for international climate finance between 2021 and 2026, and this latest announcement further solidifies that commitment. It follows the Prime Minister’s earlier announcement at COP27 to triple funding for climate adaptation.
Since 2011, UK climate aid spending has made a substantial impact, benefiting over 95 million people by aiding them in coping with the effects of climate change and helping to reduce or avoid more than 68 million tonnes of greenhouse gas emissions.
Reacting to this significant announcement, UK High Commissioner in Nigeria, Dr. Richard Montgomery, emphasized the importance of this contribution to the Green Climate Fund, making the UK one of its largest donors.
Dr. Montgomery highlighted the potential benefits for countries like Nigeria, which face increasing vulnerability to climate change’s effects.
“Nigeria is vulnerable to and increasingly impacted by climate change and must be supported to access high-quality climate finance proportionate to its size and needs,” stated Dr. Montgomery.
“Therefore, we would like to see the GCF actively supporting Nigeria’s ambitious climate goals and working closely with the Nigerian Government to facilitate access and utilization of the fund.”
This extraordinary commitment by the UK signifies a significant stride toward global climate action, as nations prepare to convene for COP28 Summit this December to address the pressing issue of climate change on a worldwide scale.
