UK to provide £1.44bn to Green Climate Fund over coming four years

27 / 08 / 2019

By Marwa Nassar - -

The UK will provide £1.44bn to the Green Climate Fund over the next four years. This doubles the UK’s previous contribution of £720m between 2014 and 2019.

The UK is doubling support to help developing countries reduce their greenhouse gas emissions as part of efforts to help meet the global targets set in Paris.

The Green Climate Fund supports projects to protect and preserve natural habitats in the developing world, including in the Amazon where wildfires are currently destroying large areas of the forest. It also supports projects that reduce emissions and help people adapt to the impacts of climate change.

It is estimated that existing GCF projects will help 300 million people cope with the effects of climate change and take the equivalent of 1.5 billion tons of carbon dioxide out of the atmosphere. That’s the same as taking 300 million cars off the road for a whole year or every plane out of the sky for 18 months.

International Development Secretary Alok Sharma said: “The World Bank estimates 100 million people are at risk of being pushed into poverty by 2030 if action isn’t taken to tackle climate change.”

“This is a global problem that requires a global solution. Britain cannot solve such problems alone. Doubling the UK’s contribution to the world’s largest fund dedicated to tackling climate change will enable more investment in prevention and preparedness, and lever further private sector finance so we can achieve our climate change goals.”

Business and Energy Secretary Andrea Leadsom said: “I am delighted that the UK is leading the world in a fight against climate change. Having committed to achieving net zero emissions by 2050, we have a responsibility to help other countries do the same.”

“The Green Climate Fund has supported millions of people in developing countries deal with the impacts of a changing climate. I’m really proud to announce that we are doubling our contribution and continue to work with other nations to tackle this global issue.”