Britain will commit to provide £1.6 billion ($2bn) to the UN-backed Green Climate Fund (GCF) to help developing countries cope with climate change, Prime Minister Rishi Sunak said on Sunday at the G20 Leaders Summit in New Delhi. Reuters has the story.
The pledge would be the biggest single funding commitment the U.K. has made to date to help the world tackle climate change, a Government statement said.
The Green Climate Fund (GCF) – the world’s largest such fund – was set up under United Nations’ climate change negotiations to help channel money needed by poor states to meet their targets to reduce carbon emissions, develop cleaner energy sources and adjust to a warming world.
Britain has committed to spend £11.6 billion ($14.46 billion) on international climate finance between 2021 and 2026.
“Today’s pledge represents a 12.7% increase on the U.K.’s previous contribution to the GCF for the period of 2020-2023,” Sunak’s office said in a statement.
I thought we couldn’t afford to rebuild crumbling schools. Yet the Government suddenly has a spare £1.6bn lying around to give away to other countries for them to splurge on climate boondoggles. The Government could build 32 brand new secondary schools (at £50m each) for that money.
Worth reading in full.