UK's Rishi Sunak commits record $2 bn climate aid ahead of Day 2 of G20 Summit

UK PM Rishi Sunak pledges record $2 billion to Green Climate Fund at G20 Summit, emphasizing urgency of climate action.

Published on: Sep 10, 2023, 10:54:08 IST

By HT News Desk

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UK Prime Minister Rishi Sunak has announced a commitment of a record $2 billion to the Green Climate Fund (GCF), marking the largest single funding contribution by the UK to combat climate change on a global scale, British High Commission in India said on Sunday ahead of the second day of G20 Summit in New Delhi. The Green Climate Fund, established by 194 countries following the Copenhagen Accord at COP15, plays a pivotal role in financing projects and initiatives aimed at addressing climate change.

Prime Minister Narendra Modi (R) with British counterpart Rishi Sunak.

“Today’s pledge represents a 12.7% increase on the UK’s previous contribution to the GCF for the period of 2020-2023, which was itself a doubling of our initial funding to establish the fund in 2014,” a UK government release said.

Sunak emphasized the urgency of climate action during his address at the G20 Summit, and called upon world leaders to unite in their commitment to reduce carbon emissions and provide support to nations facing the adverse effects of climate change.

“The UK is stepping up and delivering on our climate commitments, both by decarbonising our own economy and supporting the world’s most vulnerable to deal with the impact of climate change,” Sunak said, as quoted by the Prime Minister's Office.

“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,” he added.

The G20 Summit, which brought together leaders from the world's largest economies, served as a platform for discussing crucial global issues, including climate change.

After the successful G20 Summit, the world's attention will shift to the forthcoming COP28 Summit, where nations are expected to make critical decisions and commitments to limit global warming and mitigate the effects of climate change.

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HT News Desk
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