Prime minister Rishi Sunak unveiled a £1.6 billion ($2 billion) investment into the UN-backed Green Climate Fund at the G20 Leaders Summit in India yesterday (10 September).
The commitment is the biggest single funding commitment the UK has made to help the world tackle climate change.
The Green Climate fund was set up by 194 countries following the Copenhagen Accord at COP15 and is the largest global fund dedicated to supporting developing countries to reduce global emissions and helping communities adapt to the effects of climate change.
The £1.62 billion investment is the UK’s biggest financial contribution to supporting developing countries reduce global emissions.
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Addressing G20 leaders, Sunak said: “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.
“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.
Net zero shouldn’t be a ‘hair shirt’ story
Speaking at G20, Sunak also highlighted the race to reach net zero should also be used to create jobs and reduce consumer bills.
“The net zero story for me shouldn’t be a hair shirt story of giving everything up and your bills going up,” said Sunak.
“The vision of net zero that I think commands the most support and is the right one is one that recognises that it’s important for our kids and our grandkids to leave the environment in a better state than we found it,” he continued.
“But we need to do that in a way that creates jobs for people and spreads opportunity,” Sunak added.
Feature image: @10DowningStreet on X
